Stellantis signs nickel and cobalt supply agreement with Australian miner GME Resources

Automaker Stellantis announced that it had signed a non-binding preliminary agreement with Australian miner GME Resources to obtain raw materials from GME Resources for electric vehicle battery production. Nickel and Cobalt Sulfate.

Stellantis was formed by the merger of Fiat Chrysler (FCA) and Peugeot Citroen Group (PSA), with FCA and PSA each holding a 50% stake in the combined company.

Stellantis aims to have all passenger cars sold in Europe be fully electric by 2030, and 50% of its passenger cars and light trucks sold in the U.S. to be fully electric. The company plans to achieve net-zero carbon emissions by 2038 and reduce carbon emissions by 50% by 2030 compared to 2021 levels.

Foreign media said that the company obtained raw materials nickel and cobalt sulfate from GME Resources to achieve the above goals. The raw materials will come from a nickel-cobalt advanced mining project in Western Australia currently being developed by GME Resources called NiWest, which is planned to produce approximately 90,000 tonnes of battery-grade nickel and cobalt sulfate per year.

In addition to GME Resources, Stellantis has also struck a major deal with lithium producer Vulcan Energy to secure lithium supplies.

In June, the two companies announced that Stellantis had made a €50 million equity investment in Vulcan and extended a previously binding supply agreement to 10 years.

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