PARIS, Oct 10 (Reuters) – Stellantis (STLA.MI) announced it had signed a non-binding agreement with GME (GME.AX) to secure raw material supplies, including nickel and cobalt sulphate, needed to produce electric vehicle batteries.
The memorandum with the GME mining company “represents the first step toward a potential long-term partnership,” Stellantis said in a statement, as carmakers around the globe race to secure natural resources needed to go green.
GME is currently engaged in a nickel and cobalt mining project in Western Australia called “NiWest” and plans to produced around 90,000 tons per year of battery-grade nickel and cobalt sulphate for the electric car market, the statement said.
“A definitive feasibility study for NiWest is due to commence this month,” added the companies in a joint statement.
Financial details were not disclosed.