Stellantis to Invest $155 Million in Sustainable Copper Project
February 27 2023 - 12:54PM
Dow Jones News
By Maitane Sardon
Stellantis NV said Monday that it has invested $155 million in a
project to produce sustainable copper in Argentina, as part of its
plan to reach net-zero carbon emissions by 2038.
The maker of the Jeep and Dodge brands said it is acquiring a
14.2% equity stake in McEwen Copper, a subsidiary of Canadian
mining company McEwen Mining.
McEwen Copper owns the Los Azules project in Argentina and the
Elder Creek project in Nevada, in the U.S. Los Azules plans to
produce 100,000 tons per year of cathode copper at 99.9% purity
starting in 2027, it said.
The stake will make Stellantis McEwen Copper's second largest
shareholder, along with Rio Tinto, it said.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
February 27, 2023 12:39 ET (17:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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