news

Auto giant Stellantis signs non-binding MOU with nickel and cobalt development company

Kitco Media
By Michael McCrae
Published
Updated
Kitco News
The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

GME Resources (ASX: GME) and Stellantis (NYSE: STLA) announced today that the two signed a non-binding memorandum of understanding for the future sale of quantities of battery grade nickel and cobalt sulphate products from the GME's NiWest nickel-cobalt project in Western Australia.

NiWest is an advanced nickel-cobalt development project and will produce approximately 90,000 tpa (tons per annum) of battery grade nickel and cobalt sulphate products for the burgeoning electric vehicle market.

To date GME said that more than A$30 million has been invested into drilling, metallurgical testwork and development studies.

A definitive feasibility study for NiWest is due to commence this month. The proposed location of the processing facility for NiWest is within approximately 30 kilometres of Glencore’s Murrin Murrin operation, the largest nickel-cobalt operation in Australia.

Kitco Media

Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

Mdi Earth Logo

Share

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.