Stellantis Invests $155 Million in Copper – Virgilio Motori

Stellantis Invests $155 Million in Copper – Virgilio Motori

Stellantis is going 360 degrees toward achieving carbon neutrality and one of their biggest goals is making it happen Zero emissions by 2038. That’s why today I’m announcing a huge new investment aimed at achieving this goal.

In fact, the group decided to invest $155 million on a project in Argentina; In particular, it will acquire a 14.2% stake in McEwen Copper, a subsidiary of the Canadian mining company McEwen Mining, which owns the Los Azules project in Argentina and the Elder Creek project in Nevada, USA.

Major contributor to the copper sector

With this new post, Stellants will become The second largest shareholder of McEwen Copper, in association with Rio Tinto, through the copper filtration technology project, Nuton. Los Azules intends 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.

Carlos Tavares said: “Stellantis wants 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. We are taking important steps in Argentina and Brazil for this Mobility decarbonization And securing strategic supplies of raw materials necessary for the success of the International Electricity Company’s programs.

The role of copper in carbon removal

into the future of electric mobility Copper plays a very important role, It is a much needed raw material, and the global demand for this conductive metal is estimated to triple in the coming years.

Stellantis’ new investment in one of the 10 largest international copper projects under development will allow the company to meet part of the projected demand for this raw material from 2027.

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McEwen Copper CEO Rob McEwen said: “Stellantis and McEwen ideal partners For a big project like Los Azules. We share the vision of building the mine of the future, based on regeneration principles and innovative technologies, capable of reducing net carbon emissions by 2038. Our commitment is to provide green copper to Argentina and the world, a product that will contribute to the electrification of transportation and the protection of our atmosphere.”

In this way, South America strengthens its presence in the long-term strategic plan Dare Forward 2030, which aims to ensure evolving freedom of movement and with which Stellantis plans to achieve 100% of the sales mix with battery electric vehicles (BEVs) in Europe and 50% of Sales are diversified with passenger cars and light commercial vehicles (BEVs) in the United States.

However, the goal in Brazil is to reach 20% of the sales mix with low-emission vehicles (LEV) by the end of the decade. The decarbonization strategy is very ambitiousBut still in line with what are the scientific recommendations. The group intends to halve carbon emissions by 2030 compared to 2021 values, putting itself on track to achieve the larger goal, i.e. completely zero carbon emissions by 2038, as we already know.

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