Stellantis invests $155 million in a project in Argentina that will make a major contribution to the company’s plan to become net zero carbon by 2038. The company will acquire a 14.2% equity stake in McEwen Copper, a subsidiary of Canadian mining company McEwen Mining, which owns the Los Azules project in Argentina and the Elder Creek project in Nevada. With this stake, Stellantis will become the second largest shareholder in McEwen Copper, alongside Rio Tinto, through its copper leaching technology venture, Nuton. Los Azules expects to produce 100,000 tons of cathode copper with a purity of 99.9% per year starting in 2027 and with a reserve capable of guaranteeing operation for at least 33 years.
“Stellantis intends to lead the sector by committing to zero carbon emissions by 2038, a goal that requires innovation and a complete redefinition of the entire business,” explains Carlos Tavares, CEO of Stellantis.
“We are taking important steps in Argentina and Brazil to decarbonise mobility and secure strategic supplies of the raw materials necessary for the success of the company’s global electrification programs.”
Source: Ansa
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