06
May
15:04
Vale confirms nickel deal with Tesla
Brazilian mining giant Vale will supply US electric vehicle producer Tesla with Class 1 nickel from its Canadian operations, the company confirmed Friday.
Eventually, the company will allocate 30-40% of its Class 1 nickel for the EV sector. The deal was originally leaked in the beginning of April, but Vale had not confirmed it.
Financial details for the deal have not been disclosed, Kallanish notes. As of 6 May, cash nickel was priced at $30,190/tonne…
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Very good overview of the weekly steel market.
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