Hyperdrive
Tesla Strikes Battery-Metal Deal in Push to Ensure Supply
- Tesla agrees to buy nickel from Talon Metals mine project
- EV demand is leading manufacturers to strengthen supply chain
This article is for subscribers only.
Tesla Inc. agreed to purchase nickel supplies from miner Talon Metals Corp. as an expected surge in demand spurs automakers to secure access to battery metals and other electric-car parts.
Tesla committed to purchase 75,000 metric tons of nickel concentrates produced from Talon’s Tamarack project, with the price linked to the London Metal Exchange’s cash-settlement price for nickel, Talon said in a statement Monday. Tamarack, a nickel, copper and cobalt joint venture between Talon and Rio Tinto Group, is located in Minnesota and isn’t yet in commercial production.