Stellantis Signs Non-Binding MOU with GME for Future Offtake of Battery Grade Nickel and Cobalt Sulphate

Stellantis Signs Non-Binding MOU with GME for Future Offtake of Battery Grade Nickel and Cobalt Sulphate

  • Stellantis strengthens value chain for electric vehicle battery production supporting Dare Forward 2030 strategic plan targets
  • MOU represents first step toward potential long-term partnership for future offtake of battery grade nickel and cobalt sulphate products from the NiWest Nickel-Cobalt Project

October 10, 2022, AMSTERDAMStellantis N.V. and GME Resources Limited (“GME” or “the Company”) (ASX: GME) today announced the signing of a non-binding Memorandum of Understanding (“MOU”) for the future sale of quantities of battery grade nickel and cobalt sulphate products from the NiWest Nickel-Cobalt Project in Western Australia (“NiWest”).

NiWest is an advanced nickel-cobalt development project and will produce approximately 90,000 tpa (tons per annum) of battery grade nickel and cobalt sulphate for the burgeoning electric vehicle market. To date, more than AU$30 million has been invested into drilling, metallurgical test work and development studies. A Definitive Feasibility Study for NiWest is due to commence this month. The proposed location of the processing facility for NiWest is within approximately 30 kilometers of Glencore-owned Murrin Murrin operation, the largest nickel-cobalt operation in Australia.

“Every day, Stellantis is working to provide our customers clean, safe affordable, cutting-edge freedom of mobility,” said Maxime Picat, Stellantis Chief Purchasing and Supply Chain Officer. “Securing the raw material sources and battery supply will strengthen Stellantis’ value chain for electric vehicle battery production and equally important, help the Company achieve its aggressive decarbonization target.”

As part of the Dare Forward 2030 strategic plan, Stellantis announced plans of reaching 100% of passenger car battery electric vehicle (BEV) sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. Stellantis will be the industry champion in climate change mitigation, becoming carbon net zero by 2038, with a 50% reduction by 2030.

“Stellantis is a partner of the highest caliber and GME is delighted to have signed this MOU in what we hope is the first step in a long-term partnership,” said GME Managing Director, Paul Kopejtka. “We’re very pleased with how our discussions have progressed and we now look forward to progressing more detailed negotiations in parallel with the start of the Definitive Feasibility Study for the NiWest Nickel-Cobalt Project. A Definitive Agreement with Stellantis would be a critical step in being able to progress the NiWest Project through to commercial operations.”

Stellantis strengthened its supply of low-carbon lithium hydroxide earlier this year, signing agreements with Vulcan Energy and Controlled Thermal Resources for Europe and North America, respectively.

The closing of the non-binding MOU is subject to customary closing conditions, including regulatory approvals.

# # #

About Stellantis
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including 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. For more information, visit www.stellantis.com.

About GME Resources Limited:
GME Resources Limited is an ASX-listed exploration and development company with nickel, cobalt and gold interests in Western Australia. GME’s principal asset is its 100% owned NiWest Nickel Cobalt Project situated adjacent to Glencore’s Murrin Murrin Operations. The Company has completed a Pre-Feasibility Study which has confirmed the technical and economic viability of a heap leach and direct solvent extraction operation at one of the largest and highest grade undeveloped nickel/cobalt deposits in Australia. Further information is available on GME’s website: www.gmeresources.com.au

Contacts:

Stellantis

Fernão Silveira
Global Communications / Stellantis
+31 6 43 25 43 41
fernao.silveira@stellantis.com

Valérie GILLOT
+33 6 83 92 92 96
valerie.gillot@stellantis.com

communications@stellantis.com
www.stellantis.com

GME Resources Limited

Paul Kopejtka
Managing Director and CEO
Perth, Western Australia
+61 8 9336 3388
info@gmeresources.com.au

Michael Vaughan
Fivemark Partners
Perth, Western Australia
+61 422 602 720
michael.vaughan@fivemark.com.au

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; Stellantis’ ability to expand certain of their brands globally; its ability to offer innovative, attractive products; its ability to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase due to consolidation; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; the ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the ability to access funding to execute Stellantis’ business plans and improve its businesses, financial condition and results of operations; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; and other risks and uncertainties.

Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis’ financial results, is included in Stellantis’ reports and filings with the U.S. Securities and Exchange Commission and AFM.

Attachment


Primary Logo

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.