Stellantis agrees nickel and cobalt supply deal

The deal marks a further move by the world's fourth largest carmaker to lock down supplies of metals needed for batteries that power EV cars.

It comes ahead of an expected surge in global demand as a transition towards cleaner mobility gains traction. Earlier this year the Franco-Italian group signed a lithium supply agreement with developer Vulcan Energy Resources and said it would invest €50m to buy an 8% stake in it. Stellantis and the GME mining company said in a statement today that the memorandum"represents the first step toward a potential long-term partnership,".The supply will come from a nickel and cobalt advanced mining project in Western Australia called"NiWest", which GME is currently developing, with a planned production of around 90,000 tonnes per year of battery-grade nickel and cobalt sulphate.

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