GM said to today it has obtained a new source of cost-competitive nickel and cobalt for Ultium battery cells after making a “strategic investment” in Queensland Pacific Metals of Australia. The so-called nickel laterite ore is expected to be processed using a new and proprietary method that helps reduce waste with no requirement of a tailings dam, GM claimed. GM is expected to invest up to $69 million in Queensland Pacific Metals for the development of its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia. The TECH Project* is expected to begin construction in 2023.