Click Avenger for more information.
Stellantis (NYSE: STLA) announced today in Amsterdam a $155 million investment in EV batteries by acquiring a 14.2% equity stake in McEwen Copper*, a subsidiary of Canadian mining company McEwen Mining. McEwen owns the Los Azules project in Argentina and the Elder Creek project in Nevada, US. With this investment, Stellantis will become McEwen Copper’s second largest shareholder, along with Rio Tinto, through its copper leaching technology venture, Nuton. Los Azules plans to produce 100,000 tons per year of cathode copper at 99.9% purity starting in 2027. The resources can secure the operation for at least 33 years, Stellantis said.
“Stellantis intends to lead the industry with the commitment to be carbon net zero by 2038 – a goal that requires innovation and a complete redefinition of the entire business,” said Carlos Tavares, Stellantis CEO. “We are taking important steps in Argentina and Brazil, with the aim of decarbonizing mobility and ensuring strategic supplies of raw materials necessary for the success of the Company’s global electrification plans.”
Click for more information.
Copper, of course, is a strategic raw material for the future of electric mobility. Estimates predict that global demand for the conductive metal will triple in the coming years. By making this investment in one of the top international projects in development of this commodity, Stellantis will be able to supply some of the projected copper demand starting in 2027, Stellantis claimed.
As part of the Dare Forward 2030 strategic plan (AutoInformed.com: Dare Forward 2030 – Stellantis Survival Plan Unveiled), Stellantis expects to achieve a 100% passenger car battery electric vehicle (“BEV”) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. In Brazil, it is targeting approximately 20% low emission vehicle (“LEV”) sales mix by the end of the decade. The plan is anchored in an ambitious decarbonization strategy consistent with science-based recommendations. Through aggressive and clear targets, by 2030(1) it plans to reduce its carbon emissions footprint by half versus 2021 metrics, putting the Stellantis on track to achieve carbon net zero by 2038 (2).
(1) scopes 1-2-3 intensity tons of CO2 equivalent/vehicle
(2) with single-digit % compensation in 2038
AutoInformed on
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) one of the world’s larger automakers and a mobility provider. Its brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. “Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates,” says the Stellantis mission statement.
*McEwen Copper
McEwen Copper Inc. holds 100% interest in the Los Azules copper project in San Juan, Argentina and the Elder Creek project in Nevada, USA. Los Azules was ranked in the top 10 largest undeveloped copper deposits in the world by Mining Intelligence (2022). Its current copper resources are estimated at 10.2 billion pounds at a grade of 0.48% Cu (Indicated category) and an additional 19.3 billion pounds at a grade of 0.33% Cu (Inferred category).
EVs – Stellantis Now Large Shareholder in McEwen Copper
Click Avenger for more information.
Stellantis (NYSE: STLA) announced today in Amsterdam a $155 million investment in EV batteries by acquiring a 14.2% equity stake in McEwen Copper*, a subsidiary of Canadian mining company McEwen Mining. McEwen owns the Los Azules project in Argentina and the Elder Creek project in Nevada, US. With this investment, Stellantis will become McEwen Copper’s second largest shareholder, along with Rio Tinto, through its copper leaching technology venture, Nuton. Los Azules plans to produce 100,000 tons per year of cathode copper at 99.9% purity starting in 2027. The resources can secure the operation for at least 33 years, Stellantis said.
“Stellantis intends to lead the industry with the commitment to be carbon net zero by 2038 – a goal that requires innovation and a complete redefinition of the entire business,” said Carlos Tavares, Stellantis CEO. “We are taking important steps in Argentina and Brazil, with the aim of decarbonizing mobility and ensuring strategic supplies of raw materials necessary for the success of the Company’s global electrification plans.”
Click for more information.
Copper, of course, is a strategic raw material for the future of electric mobility. Estimates predict that global demand for the conductive metal will triple in the coming years. By making this investment in one of the top international projects in development of this commodity, Stellantis will be able to supply some of the projected copper demand starting in 2027, Stellantis claimed.
As part of the Dare Forward 2030 strategic plan (AutoInformed.com: Dare Forward 2030 – Stellantis Survival Plan Unveiled), Stellantis expects to achieve a 100% passenger car battery electric vehicle (“BEV”) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. In Brazil, it is targeting approximately 20% low emission vehicle (“LEV”) sales mix by the end of the decade. The plan is anchored in an ambitious decarbonization strategy consistent with science-based recommendations. Through aggressive and clear targets, by 2030(1) it plans to reduce its carbon emissions footprint by half versus 2021 metrics, putting the Stellantis on track to achieve carbon net zero by 2038 (2).
(1) scopes 1-2-3 intensity tons of CO2 equivalent/vehicle
(2) with single-digit % compensation in 2038
AutoInformed on
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) one of the world’s larger automakers and a mobility provider. Its brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. “Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates,” says the Stellantis mission statement.
*McEwen Copper
McEwen Copper Inc. holds 100% interest in the Los Azules copper project in San Juan, Argentina and the Elder Creek project in Nevada, USA. Los Azules was ranked in the top 10 largest undeveloped copper deposits in the world by Mining Intelligence (2022). Its current copper resources are estimated at 10.2 billion pounds at a grade of 0.48% Cu (Indicated category) and an additional 19.3 billion pounds at a grade of 0.33% Cu (Inferred category).