miningtechnology.com L.Parker 7.7.23 said
"VolkswagenandStellantishave each invested US $100m in mining company ACG’s efforts to acquire two mines in Brazil from private equity group Appian Capital.According to theFinancial Times, the deal “highlights how car groups are making direct mining investments”.
The Santa Rita mine producesnickel sulphide, while the Serrote mine produces copper and gold.
ACG’s US $1.1bn transaction is also being supported by Swiss miner Glencore and investment fund La Mancha.
Through its subsidiary PowerCo, Volkswagen is investing $100m in the deal “as aprepayment(all emphases, mine) for future nickel supplied by the mines”, theFinancial Timessaid.
Stellantishas invested $100m directly into ACG.
With China’s dominance of the critical minerals used for EV battery production increasingly generating concern amongst western governments, automakers are beginning to place greater emphasis in sourcing battery metals.
“The global supply chain is breaking up and segregating into the eastern supply chain and the western supply chain,” ACG chief executive Artem Volynets was quoted as saying.
“And we are very much on the forefront of that, supplying into the western supply chain” ".
https://www.mining-technology.com/news/volkswagen-stellantis-acg-mining-acquisition/
Such are the concerns over Ni sulphide (which have very low CO2 footprints, cg dirty laterites) shortages for the EV battery etc. revolution, EV carmakers are willing to make largeprepaymentsto mining companies to obtain Ni sulphides eg Volkswagen US$100m prepayment for Ni, above.
And Stellantis another US$100m into the ACG mining co.
Surely, there must be many other western carmakers very interested in QPM's DNi process, which is probably carbon- negative (unlike the usual standard Ni laterites in EV batteries); & QPM is in a Tier1 jurisdiction.
