#Vale signs deal with #Tesla for #Canadian #Nickel
Brazilian miner Vale SA said on Friday it has signed a long-term deal with Tesla Inc to supply the U.S.-based electric vehicle maker with nickel from its Canadian operations.
Vale did not provide financial details on the deal and did not say how long it will last.
“We are pleased to have the leading electric vehicle manufacturer Tesla among our customers,” Deshnee Naidoo, Vale’s executive vice president of Base Metals, said in a release. “This agreement reflects a shared commitment to sustainability and shows very clearly we are the supplier-of-choice for low-carbon and high purity nickel products essential for long-range batteries.”
The Brazilian miner said in a securities filing that the agreement involves supplying Tesla with low-carbon Class 1 nickel and is in line with its strategy of increasing its exposure to the electric vehicle industry.