PARIS, Oct 10 (Reuters) - Carmaker Stellantis (STLA.MI) has signed a non-binding preliminary agreement with GME Resources (GME.AX) to secure supplies of nickel and cobalt sulphate for electric vehicle (EV) batteries, the two companies said on Monday.
read moreEarlier this year the Franco-Italian group signed a lithium supply agreement with developer Vulcan Energy Resources (VUL.AX) and said it would invest 50 million euros ($48.6 million)to buy an 8% stake in it.
read moreRegister now for FREE unlimited access to Reuters.com RegisterStellantis and the GME mining company said in a statement on Monday that the memorandum "represents the first step toward a potential long-term partnership,".
The supply will come from a nickel and cobalt advanced mining project in Western Australia called "NiWest", which GME is currently developing, with a planned production of around 90,000 tonnes per year of battery-grade nickel and cobalt sulphate.
Stellantis Chief Purchasing and Supply Chain Officer Maxime Picat said that securing the raw material sources and battery supply would strengthen the group's value chain for EV production and support its decarbonisation target.