This investment not only ensures a reliable supply but also brings numerous benefits, including favorable commercial terms and the creation of thousands of new jobs in the United States, Canada, and countries covered by free trade agreements, such as Australia.Įlement 25 plans to invest around $290 million to construct a 230,000-square-foot facility, with site preparation scheduled to commence in the third quarter of 2023 and the plant expected to be operational by 2025. General Motors’ agreement with Element 25 demonstrates its commitment to scaling up EV production in North America and investing in battery raw materials, processing and components. It will process manganese concentrate from Element 25's mining operations in Australia to produce battery-grade manganese sulfate, a crucial component in lithium-ion battery cathodes. This facility, set to begin production in 2025, will be the first of its kind in the United States. This will support General Motors’ goal of producing more than 1 million electric vehicles (EVs) in North America.Īs part of the deal, GM will provide Element 25 with an $85 million loan to partly fund the construction of a new facility in Louisiana. ( GM Quick Quote GM - Free Report) has entered into an agreement with Element 25 whereby the latter will supply up to 32,500 metric tons of manganese sulfate annually.
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