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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Stellantis agrees to buy Kuniko’s battery metals.

Photo Credit: Dado Ruvic
Photo Credit: Dado Ruvic Photo Credit: Dado Ruvic
Photo Credit: Dado Ruvic
Photo Credit: Dado Ruvic Photo Credit: Dado Ruvic

Listen to the article now

On Monday, Kuniko (KNI.AX) announced an offtake and equity investment deal with automaker Stellantis (STLAM.MI) to boost its Norwegian battery metals initiatives.

Kuniko said Stellantis would invest 5 million euros ($5.45 million) at A$0.467 a share in the battery metals miner for a near 20% interest.

Kuniko shares soared 58.1% to A$0.680, their best since Oct. 31.

Stellantis stated Friday that the carmaker would receive 35% of Kuniko’s Norway exploration projects’ nickel and cobalt sulfate for nine years.

Kuniko said Stellantis’ equity investment would fund Norway’s brownfield and greenfield battery metals exploration initiatives.

 


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