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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Alliance Nickel Ltd | ASX:AXN | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.003 | -6.52% | 0.043 | 0.043 | 0.047 | 0.044 | 0.043 | 0.044 | 27,868 | 07:10:15 |
From May 2022 to May 2024
By Adria Calatayud
Jeep maker Stellantis NV said Friday that it is teaming up with Australia's Alliance Nickel Ltd. to secure battery-grade nickel and cobalt sulphate and that it will take a 11.5% stake in the mining company.
The European car maker, which also owns Chrysler, Dodge and Ram, said it signed a so-called offtake agreement with Alliance Nickel under which the mining company will supply 170,000 tons of nickel sulphate and 12,000 tons of cobalt sulphate over a five-year period initially from its NiWest project in Western Australia.
Stellantis said it will also acquire a 11.5% shareholding in new equity in Alliance Nickel for 9.2 million euros ($10.1 million).
The car maker said the agreement supports the 2030 targets it set out in its strategic plan.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 28, 2023 03:05 ET (07:05 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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