Apple will invest $500 million in MP Materials to finance a third U.S. rare-earth processing plant, the Dow giant said Tuesday, confirming to a Fox Business report. MP stock jumped early Tuesday as the company nabbed its second transformative investment in the past week as the U.S. works to wean itself off rare-earth dependence on China. The Department of Defense announced a $400 million investment in MP Materials last Thursday, becoming its largest investor, along with a commitment to buy neodymium-praseodymium oxide for $110 per kilogram, nearly double the market price.

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