Stellantis wants nickel and cobalt from Western Australia

Stellantis wil nikkel en kobalt uit West-Australië

Photo: ABM Financial News

(ABM FN-Dow Jones) Stellantis has entered into a preliminary agreement with GME Resources to supply nickel and cobalt for batteries from a future plant in Western Australia. The automaker announced this on Monday.

The NiWest project will produce approximately 90,000 tons of nickel and cobalt sulfate annually to build electric vehicles. The final feasibility study for the project will begin this month. The processing plant is located 30 kilometers from the largest nickel and cobalt mine in Australia.

“Securing raw materials and battery supplies will strengthen the Stellantis value chain for producing batteries for electric vehicles,” said Maxime Picat of the automaker.

Stellantis aims to be carbon neutral by 2038. The company aims to achieve a 50 percent reduction by 2023.

Source: ABM Financial News

From Beursplein 5, the editors of ABM Financial News closely follow developments on the stock exchanges, and the Amsterdam Stock Exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments.

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