MP Materials, which runs the only American rare earths mine, earlier this week announced a new $500 million agreement with tech giant Apple on Tuesday to produce more of the powerful magnets used in iPhones as well as other high-tech products like electric vehicles.

This news comes on the heels of last week’s announcement that the U.S. Defense Department agreed to invest $400 million in shares of the Las Vegas-based company.

That will make the government the largest shareholder in MP Materials and help increase magnet production.

The agreement with Apple will allow MP Materials to further expand its new factory in Texas to use recycled materials to produce the magnets that make iPhones vibrate.

The company expects to start producing magnets for GM’s electric vehicles later this year.