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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.” Continue reading
Biden Harris Administration Announce $1B in Airport Funding to Meet Growing Travel Demand as Covid Recovery Continues
The Federal Aviation Administration is awarding ~$1 billion from President Biden’s Bipartisan Infrastructure Law to 99 airports across the country. Larger security checkpoints, more reliable and faster baggage systems and better roadways and multi-modal connections are just some of the improvements passengers will see. The funding is going to small, medium and large communities.
“Americans deserve the best airports in the world, and with demand for air travel surging back, this funding to improve the passenger experience couldn’t come at a more urgent time,” said US Transportation Secretary Pete Buttigieg, “all while creating jobs and supporting local economies.” Continue reading →