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Top related persons:
Harish Sridharan - 1 Melanie Burton - 1 Kim Coghill - 1 Chris Reese - 1
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MELBOURNE - 1 General Motors Co - 1 General Motors - 1 Queensland Pacific Metals - 1 GM - 1 Thomson - 1

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6 mentions found


☆ Australia's Element 25 to supply GM with manganese sulphate, shares jump
  + stars: | 2023-06-26 | by ( Melanie Burton Harish Sridharan | Melanie Burton | Harish Sridharan | ) www.reuters.com   time to read: +1 min
MELBOURNE, June 26 (Reuters) - Element 25 Ltd (E25.AX) said on Monday it will supply manganese sulphate to General Motors Co (GM.N) as the automaker looks to secure supply of battery minerals for its North American electric vehicle production, sending its shares up more than 20%. The deal is the second by General Motors for Australian battery minerals as automakers globally rush to secure supply. Shares of Element 25 rallied as much as 23% before trading at A$0.69, up 15%. GM will provide Element 25 with an $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.
Persons: Harish Sridharan, Melanie Burton, Kim Coghill, Chris Reese Organizations: MELBOURNE, General Motors Co, General Motors, Queensland Pacific Metals, GM, Thomson Locations: Queensland, Louisiana, North America, Bengaluru, Melbourne
☆ East-West battleground will shift to metals
  + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com   time to read: +4 min
MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper. That’s why Western nations’ best option is ultimately to recycle metals from used appliances.
☆ East-West battleground will shift from fossil fuels to metals
  + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com   time to read: +4 min
MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Russia’s invasion of Ukraine highlighted the risk of relying on autocratic states for energy. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper.
☆ GM's plan to build 400,000 EVs in North America has been delayed by up to 6 months because it hasn't been able to make batteries fast enough
  + stars: | 2022-10-26 | by ( Stephen Jones | ) www.businessinsider.com   time to read: +3 min
GM has delayed a plan to build 400,000 EVs in North America. CEO Mary Barra said Tuesday the launch of battery production had been slower than expected. Barra told investors in February that GM planned to make 400,000 EVs in North America through 2023, per Automotive News. Barra wants GM to build one million electric vehicles in North America by 2025. GM plans to open a second next year, and another in 2024.
☆ Column: How do you accelerate energy transition when current crisis slams the brakes
  + stars: | 2022-10-12 | by ( Clyde Russell | Thomson Reuters | Clyde Russell Is Asia Commodities | ) www.reuters.com   time to read: +5 min
A preferred solution is to accelerate the energy transition by adding more renewable generation, and crucially, more storage to smooth out the inherent variability of technologies such as wind and solar. At the 121 Mining Investment conference in Sydney on Wednesday the problems were put into focus by the group largely being neglected in the energy transition, the miners and project developers. None of this bodes well for increasing the speed of the energy transition. Register now for FREE unlimited access to Reuters.com RegisterEditing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ GM to take equity stake in Australian mining company
  + stars: | 2022-10-11 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
GM said the investment will help support electric-vehicle eligibility for consumer incentives under new, clean energy U.S. tax credits. GM said the nickel laterite ore is expected to be processed using a new, proprietary process that helps reduce waste. Register now for FREE unlimited access to Reuters.com RegisterThe GM investment is to assist in the development of its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia. High-grade nickel laterite ore will be imported from nearby New Caledonia, GM said. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Shepardson; editing by Jonathan Oatis and David GregorioOur Standards: The Thomson Reuters Trust Principles.
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