Automotive group Stellantis is making an investment in Argentina Lithium, partnering with the TSX-V-listed mining company to advance lithium project in the South American nation. Stallantis subsidiary Peugeot Citroen Argentina will make a $90-million investment in Argentina Litio y Energia (ALE), Argentina Lithium & Energy announced on Wednesday.
Automotive group Stellantis is making an investment in Argentina Lithium, partnering with the TSX-V-listed mining company to advance lithium project in the South American nation.
Stallantis subsidiary Peugeot Citroen Argentina will make a $90-million investment in Argentina Litio y Energia , Argentina Lithium & Energy announced on Wednesday. Stellantis will own 19.9% of the issued and outstanding shares of ALE, while Argentina Lithium will own the balance. Stellantis has been granted the right to exchange all the ALE shares for up to 19.9% of the outstanding shares of Argentina Lithium.
The companies will also enter into a lithium offtake agreement, under which ALE will sell to Stellantis up to 15 000 t/y of lithium over a seven-year period. After the initial seven years, the offtake agreement may be extended. “We are delighted to have Stellantis as a partner in the future development of our lithium projects in Argentina. Together, we share a vision to build a sustainable lithium mining operation for the future.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Argentina mining exports to near $4.5bn in 2023 amid lithium boomArgentina's mining exports will reach around $4.5-billion in 2023, up from the 2022 total amid strong prices and the launch of a new lithium mine, the president of the sector's main business chamber told Reuters late Thursday. Roberto Cacciola, who has just taken over as president of the Argentine Chamber of Mining Entrepreneurs (CAEM), said in an interview 'the final number of exports will be closer to $4.4-billion or $4.5-billion in 2023.'
Lire la suite »
Lithium boom in Argentina hinges on politics, Zijin unit saysArgentina is currently the fourth-biggest producer of lithium.
Lire la suite »
Lithium boom in Argentina hinges on politics, Zijin unit saysArgentina is already the world’s fastest-growing producer lithium producer. But if the country wants to overtake some of its regional rivals, it needs the incoming administration to ensure business conditions are ripe for developers, according to the local unit of China’s Zijin Mining Group. Hurdles to lithium development in neighboring Chile and Bolivia, such as tax hikes and tougher environmental standards, have opened the door for Argentina, said Tomas de Pablos Souza, president of Liex. To seize the moment, Argentina’s next administration, which takes office at the end of the year, must shun the unpredictable state interventionism that has dampened growth in several industries, he said.
Lire la suite »
Solidarity Rally For Striking Stellantis Autoworkers Held In OntarioUnion members said consumers will feel the pinch with rising repair costs.
Lire la suite »
'The Public Is on Our Side': UAW Expands Strikes to 38 GM and Stellantis Facilities'We will shut down parts distribution until those two companies come to their senses and come to the table with a serious offer,' said United Auto Workers president Shawn Fain.
Lire la suite »
Why Ford Has Been More Willing to Work With the UAW Than GM or Stellantis.Ford is doing better with labor than either GM or Stellantis. How Come? And is that good news for the stock?
Lire la suite »