News Formal

Automaker Stellantis signs battery metals offtake deal with Australia's Kuniko

  • 📰 Reuters
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Australia's Kuniko said on Monday it had signed an offtake and equity investment agreement with automaker Stellantis to support the development of its Norwegian battery metals projects.

Stellantis would invest 5 million euros at an issue price of A$0.467 per share in the battery metals miner in return for a near 20% stake, Kuniko said.announced

by Stellantis on Friday, the carmaker will also get 35% of the nickel sulphate and cobalt sulphate produced from Kuniko's Norway exploration projects for nine years. The funds from the Stellantis' equity investment will be used to advance Kuniko's brownfield and greenfield battery metals exploration projects in Norway, the company said.

Reporting by Himanshi Akhand and Rishav Chatterjee in Bengaluru; Editing by Rashmi Aich and Krishna Chandra Eluri

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Automaker Stellantis inks battery metals offtake deal with Australia's KunikoAustralia's Kuniko said on Monday it had signed an offtake and equity investment agreement with Franco-Italian automaker Stellantis .
Source: Reuters - 🏆 2. / 97 Read more »