Apple’s investment in the mining company MP Materials will also help the tech giant reduce its dependence on China for rare earth metals.

Apple has signed a $500-million deal with Pentagon-backed MP Materials for a supply of rare earth magnets, becoming one of the first tech companies to ink a U.S. supply agreement after China curbed exports earlier this year.

Apple and MP Materials on Tuesday unveiled a $500 million partnership aimed at bolstering the iPhone maker’s domestic supply chain for rare‑earth magnets and setting up a new recycling facility. MP Materials’ shares responded positively to the development.