Investing News NetworkAUSTRALIA

Element 25 Limited

Element 25 Signs US$85M Supply Deal with GM for Manganese Sulphate

Element 25 (ASX:E25) has signed a deal with General Motors (NYSE:GM) to supply the car manufacturer 32,500 tonnes of manganese sulphate annually, according to a news report by Reuters.

The news follows GM’s announcement to take an equity stake in Queensland Pacific Metals (ASX:QPM) for a new source of nickel and cobalt for battery cells, in a move to secure the car maker’s supply of battery minerals for its North American electric vehicle production, the report said. This is also Element 25’s second major supply agreement after a deal with global mobility provider Stellantis was sealed earlier this year.

The GM deal will provide Element 25 with US$85 million to fund its Louisiana battery-grade high-purity manganese sulfate (HPMSM) facility, which is scheduled to open in 2025.

To read the full article, click here.

Click here to connect with Element 25 (ASX:E25) for an Investor Presentation.

Element 25 Limited (ASX:E25)

Element 25 Limited

Keep reading...Show less

Top News

Related News