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Reading: Stellantis invests $155 million in a copper mine in Argentina
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EV-a2z > News > Stellantis invests $155 million in a copper mine in Argentina
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Stellantis invests $155 million in a copper mine in Argentina

EV-a2zs
Last updated: 2023/03/18 at 4:05 PM
EV-a2zs Published March 2, 2023 2 Min Read
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Stellantis at the 2022 Paris Motor Show - All the automotive brands
Stellantis at the 2022 Paris Motor Show - All the automotive brands
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As part of its global push to secure raw materials for electric-vehicle batteries, Stellantis has invested $155 million to purchase a minority stake in a copper mine in Argentina. This is part of the company’s global push.

Contents
$155 million worth of investment Become fully electric in 2030

According to a statement released by the manufacturer, the company has acquired a 14.2 percent stake in McEwen Copper, a corporation of Canada’s McEwen Mining that is the owner of the Los Azules project in Argentina.

Stellantis Invests $155 Million in Copper Mine Stake to Secure EV Battery Raw Materials – https://t.co/fUfotdqtZ6 pic.twitter.com/SBwRpNWQqI

— EVMagz – Electric Vehicles Magazine (@evmagz) February 28, 2023

$155 million worth of investment

According to the statement, the investment of $155 million will elevate Stellantis to the position of the second-largest shareholder in McEwen Copper, behind only Rio Tinto.

The automaker stated that beginning in 2027, Los Azules intends to produce cathode copper that is 99.9 percent pure at a rate of 100,000 tons per year. Cathode copper is an essential component of car batteries.

Fiat and Alfa Romeo, both of which are based in Italy, along with Peugeot and Citroen, both of which are based in France, and Jeep and Ram, both of which are based in the United States, make up Stellantis, which is the third-largest automotive group in terms of sales in the entire world.

 

GAME CHANGER! #copper
Stellantis, the world's third-largest automotive group by sales, includes Italy's Fiat and Alfa Romeo, France's Peugeot and Citroen, and U.S brands Jeep and Ram.

Stellantis invests $155 mil for 14.2% in Argentine copper mine https://t.co/pRB9Am0cOx

— caliche bahada (@calichebahada) February 27, 2023

Become fully electric in 2030

By the year 2030, the company intends to have sold only fully electric vehicles in Europe at a rate of one hundred percent and in the United States at a rate of fifty percent for both passenger cars and light-duty trucks.

In the past few months, Stellantis has reached a series of agreements in order to acquire raw materials for electric batteries. 

One of these agreements was a supply deal for nickel sulphate with Finland’s Terrafame, which was just finalized last month.

#Copper Note#USA #copper future HG trade at 4.0345 #USD, up +0.54% intra-day. #Car #industrial giant Stellantis announced $155 million investment in the project of sustainable #copper mine, Los Azules in #Argentina.#metals#forex #stocks #commodities #industry pic.twitter.com/3BZnXTSCo8

— Nick Walterson (@NickWalterson) February 28, 2023

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TAGGED: argentina, Battery, Electric Vehicle, EV, Mining, Stellantis
EV-a2zs March 18, 2023 March 18, 2023
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