June 26 (Reuters) - Element 25 Ltd (E25) said on Monday it will supply manganese sulphate to General Motors Co GM.N from a new facility in Louisiana, as the automaker looks to secure supply of battery minerals for its North American electric vehicle production.
Under the agreement, GM will buy up to 32,500 tonnes of manganese sulfate per annum from Element 25 over a seven-year period from a new facility that will be built in Louisiana.
The company did not disclose the value of the deal. GM will provide Element 25 with a $85 million loan to partially fund the construction of the facility for production of battery-grade manganese sulphate, the ASX-listed miner said.
Element 25 expects to invest about $290 million in total to build the facility, and it is scheduled to open in 2025.
GM currently expects to build 400,000 EVs in North America from 2022 through mid-2024 and increase capacity to 1 million units annually in North America in 2025.
The agreement with Element 25 is GM's second major deal for battery metals in Australia. In October last year, the company said it will take an equity stake in Queensland Pacific Metals (QPM) to secure a new source of nickel and cobalt for battery cells. (([email protected]; Twitter: https://twitter.com/damnit_saladin;))
News: E25 Australia's Element 25 to supply GM with manganese sulphate
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
25.5¢ |
Change
-0.010(3.77%) |
Mkt cap ! $58.29M | |||
| Open | High | Low | Value | Volume |
| 26.5¢ | 26.5¢ | 25.0¢ | $48.81K | 192.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7372 | 25.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 26.5¢ | 21119 | 2 |
View Market Depth
| Last trade - 15.08pm 31/07/2025 (20 minute delay) ? |
| E25 (ASX) Chart |