Stellantis pumps $90m into Argentina Lithium
Automotive group Stellantis is making an investment in Argentina Lithium, partnering with the TSX-V-listed mining company to advance a lithium project in the South American nation.
Stallantis subsidiary Peugeot aCitroen Argentina will make a $90-million investment in Argentina Litio y Energia (ALE), Argentina Lithium & Energy announced late last month.
Stellantis will own 19.9% of the issued and outstanding shares of ALE, while Argentina Lithium will own the balance. Stellantis has been granted the right to exchange all the ALE shares for up to 19.9% of the outstanding shares of Argentina Lithium.
The companies will also enter into a lithium offtake agreement, under which ALE will sell to Stellantis up to 15 000 t/y of lithium over a seven-year period. After the initial seven years, the offtake agreement may be extended.
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