The Australian battery materials company EV Metals Group has secured 127 hectares of land in Saudi Arabia to build a battery chemicals processing complex. Production of lithium hydroxide at the plant located in Yanbu Industrial City is scheduled to start in 2026.
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General Motors is looking to secure a new source of low-cost nickel and cobalt for its Ultium battery cells with a strategic investment in Australian battery materials supplier Queensland Pacific Metals.
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Stellantis has signed a non-binding agreement with GME Resources for the purchase of nickel and cobalt sulphate products from the NiWest project in Western Australia. The NiWest project is not yet in operation and a final decision has yet to be made.
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General Motors has signed a multi-year supply contract for cobalt with the raw materials company Glencore. Glencore will supply GM with the battery material from a mine in Australia.
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LG Energy Solution has concluded a binding long-term purchase agreement with Australian Mines for nickel and cobalt. The battery manufacturer thus secures access to 71,000 tonnes of nickel and 7,000 tonnes of cobalt for six years from the end of 2024.
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The BMW Group is changing its strategy for purchasing raw materials for electric cars. In the case of important materials such as lithium and cobalt, intermediaries are to disappear from the supply chain.
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After Andreas Wendt, the Board Member responsible for purchasing, recently announced that BMW will no longer purchase cobalt from Congo for the introduction of the fifth generation of electric vehicles from 2020/21, it is now clear that the raw material will instead come from Australia and Morocco.
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