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Stellantis signs off-take agreement with Australian miner Kuniko for battery metals

Update time : 2023-07-05 12:33:49

Australian metals miner Kuniko said on July 3 that it has signed an offtake and equity investment agreement with automaker Stellantis, according to media reports.

Stellantis has agreed to invest 5 million euros ($5.45 million) in the battery metals miner in exchange for a nearly 20 percent stake in Kuniko, which said in a statement that Stellantis will also receive 35 percent of future nickel and cobalt sulfate production from Kuniko's Norwegian exploration project for nine years.
We are actively pursuing access to a comprehensive portfolio of raw materials to meet our Dare Forward 2030 electrification targets," said Maxime Picat, chief procurement and supply chain officer at Stellantis. The partnership with Kuniko gives us an added lever to support our European battery needs through its indigenous Norwegian environmental program."
As part of the Dare Forward 2030 strategic plan, Stellantis previously announced plans to achieve a 100 percent all-electric passenger car portfolio in Europe and a 50 percent all-electric passenger car and light truck portfolio in the U.S. by 2030.
Stellantis has partnered with several companies to provide a stable supply of key materials for its electrification strategy. In addition to Kuniko, Stellantis has signed partnership agreements with Alliance Nickel, McEwen Copper, Terrafame, Vulcan Energy, Element 25 and Controlled Thermal Resources.
Our strategic partnership with Stellantis promotes sustainable battery value chain solutions in Europe and validates the potential of our portfolio of battery metal projects in Norway," said Antony Beckmand, CEO of Kuniko. We look forward to working with Stellantis to achieve success in exploration and move towards production to make a meaningful contribution to the growth and progress of the European battery industry."

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