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GM News Feed:GM Enters Collaboration Agreement with Queensland Pacific Metals for Nickel from Australia


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General Motors Co. (NYSE: GM) has secured a new source of cost-competitive nickel and cobalt for Ultium battery cells after making a strategic investment in Queensland Pacific Metals of Australia. The nickel laterite ore is expected to be processed using a new and proprietary process that helps reduce waste with no requirement of a tailings dam. As part of the agreement, GM is expected to invest up to $69 million in Queensland Pacific Metals for the development of its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia.

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Bruce

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