(Boursier.com) — Stellantis NV and Kuniko Ltd have announced the signing of the terms of a binding agreement for the supply of nickel cobalt sulphate. Lasting 9 years, it will concern 35% of future production from Kuniko’s Norwegian prospecting projects.
Stellantis has also agreed to invest 5 million euros (8 million AUD) in the purchase of shares in Kuniko, i.e. a 19.99% stake on the date of completion of the transaction and the right to appoint a director to the Kuniko board of directors.
Funds from the purchase of securities will be used to advance Kuniko’s exploration projects for metals in Norway, including nickel, cobalt and copper.
“We are embarking on an ambitious path to secure a comprehensive portfolio of raw materials needed to meet the electrification goals of the Dare Forward 2030 plan,” said Maxime Picat, Stellantis Chief Purchasing and Supply Chain Officer. “With Kuniko and its projects in Norway, we have an additional leverage to meet our European battery needs, thanks to an environmentally friendly local solution.”
The entering into of the binding supply and share subscription agreements is subject to customary conditions precedent, including regulatory approvals.
Stellantis is building a panel of key partners to ensure a stable supply of essential materials for its electrified future. In addition to its agreement with Kuniko, Stellantis has entered into agreements with Alliance Nickel, McEwen Copper, Terrafame, Vulcan Energy, Element 25 and Controlled Thermal Resources.
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