Stellantis is investing $155 million in the Los Azules project, a copper mine in Argentina. The Stellantis Group, which was created by the merger of Peugeot-Citroën and Fiat-Chrysler, acquired a 14.2% stake in McEwen Copper, a subsidiary of Canadian mining company McEwen Mining and became the second shareholder after Rio Tinto.
Stellantis plans to meet 100% of European demand and 50% of the US demand for electric vehicles by 2030. To supply its battery plants, the first of which are to open soon, the Stellantis Group has signed agreements to acquire lithium, manganese sulphate and nickel sulphate, which are essential to the electric car industry.
“Ensuring strategic supply to its plants to deliver low-carbon mobility,” the investment will allow Stellantis to meet part of its forecast demand for copper starting in 2027, the group said.
Source Le Figaro