Tesla inks secret multi-year nickel supply deal with Vale – by Cecilia Jamasmie (Mining.com – March 30, 2022)


Electric vehicle giant Tesla (NASDAQ: TSLA) is said to have secured a multi-year deal with Vale (NYSE: VALE) for the supply of nickel, one of the key ingredients in the batteries that power EVs.

The yet to be disclosed agreement, reported by Bloomberg News, will see the Brazilian miner supply nickel produced in Canada to the EV maker, which has spent the past year signing pacts with several producers of battery metals.

CEO Elon Musk promised in 2020 “giant contracts” to companies able to produce nickel in an “environmentally sensitive way” amid concerns of an imminent deficit.

Since Musk’s pledge to miners, Tesla has inked nickel supply deals with the world’s largest miner, BHP, (ASX: BHP) in Australia, with Prony Resources in the US and with Talon Metals (TSX: TLO) in New Caledonia.

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