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<\/p>\n\n\nBrazilian producer Vale has reportedly signed a new long-term agreement with Tesla that will send nickel from its mines in Canada to the vehicle maker for EV production.<\/p>\n\n\n\n\n\n\n
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According to a Reuters report, Vale said in a securities filing that it would supply low-carbon Class 1 nickel under its mission to increase its presence in the EV industry, though it did not indicate for how long.<\/p>\n\n\n\n
Financial details also were not disclosed.<\/p>\n\n\n\n
Vale\u2019s goal is to have 30% to 40% of its Class 1 nickel sales go to EV manufacturing. In its performance report for the first quarter, the miner said it sold a total of 20,000 tonnes of Upper Class 1 nickel in the period, 1,300 for the electric vehicle industry.<\/p>\n\n\n\n
The Reuters report also cited Newfoundland and Labrador Premier Andrew Furey, who said in a Twitter post the deal would include Vale-produced nickel from its Long Harbour plant in the province.<\/p>\n\n\n\n
That facility\u2019s nickel rounds, according to Vale data, have a carbon footprint of 4.4 t of CO2 equivalent for each ton of nickel, which it said previously was one-third of the average for Class 1 per the Nickel Institute.<\/p>\n\n\n\n