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The Independent UK

National

Josh Funk

Automaker Stellantis signs deal company seeking to mine in Nebraska for rare earths needed in EVs

Stellantis Earth NioCorp Nebraska United States

Copyright 2021 The Associated Press. All rights reserved.

The company that wants to mine for critical minerals in southeast Nebraska has signed a deal with Stellantis, giving the automaker access to the rare earth elements used to produce high-powered magnets needed for its electric vehicles.

NioCorp announced the tentative agreement with the automaker whose brands include Chrysler, Alfa Romeo and Maserati on Thursday. The companies didn't disclose how much Stellantis will pay because those details are still being negotiated, but this deal with such a high-profile buyer will likely provide a boost to NioCorp's effort to raise $1.1 billion to establish the mine about 80 miles (130 kilometers) south of Omaha near the town of Elk Creek.

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