MP Materials announced a $500 million partnership to supply Apple with rare-earth materials from its US mine, sending shares soaring.

Apple called the agreement a “first-of-its-kind deal” that will bring new manufacturing lines to an MP Materials recycling facility for rare Earth elements.

Shares of MP Materials are surging in early trading Tuesday after Apple said it would invest $500 million in the owner of the U.S.’s only operational rare earths mine.