In this context, the U.S. Department of Defense became MP's largest stakeholder after a $400 million stock acquisition intended to enhance the magnets business and ensure the domestic supply chain's security. In addition, MP finalized a $500 million rare earth magnet supply contract with Apple, with prepayments accounting for most of the cost to expand the company's Independence downstream center for rare earth metal and magnetics production in Texas. Operations Progress and Earnings MP Materials (NYSE:MP) ...