Multinational companies are focusing on Latin America due to the potential of key natural resources for the assembly of vehicles and the procurement of electromobility components.
In this regard, Stellantis announced a US$155 million investment in a project located in Argentina, which will make an important contribution to the company’s plan to become carbon neutral by 2038.
Stellantis is acquiring a 14.2% equity stake in McEwen Copper, a subsidiary of Canadian mining company McEwen Mining, which owns the Los Azules project in Argentina and the Elder Creek project in Nevada, USA.
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Futuristic Vision
With this stake, Stellantis will be McEwen Copper’s second largest shareholder along with Rio Tinto, through its copper leaching technology company, Nuton.
Los Azules plans to produce 100,000 tons per year of cathode copper at 99.9% purity starting in 2027 and the resources can secure the operation for at least 33 years.
“Stellantis intends to lead the industry with a commitment to be carbon neutral by 2038, a goal that requires innovation and a complete redefinition of the entire business,” said Carlos Tavares, Global CEO of Stellantis.
“We are taking important steps in Argentina and Brazil, with the objective of decarbonizing mobility and securing the strategic supply of raw materials necessary for the success of the company’s global electrification plans,” he added.
Copper is a strategic raw material for the future of electric mobility and global demand for the conductive metal is expected to triple in the coming years. By making this investment in one of the 10 largest international projects under development for this commodity, Stellantis will be able to supply part of the projected copper demand from 2027.
This announcement reinforces South America’s participation in the implementation of the Dare Forward 2030 long-term strategic plan, committed to the freedom of cutting-edge mobility.
