Tesla signs delivery agreement with Talon Metals

Talon Metals (TSX: TLO) announced today that they have signed a supply agreement with Tesla for the supply and purchase of nickel concentrate.

Nickel will be supplied from Talon’s Tamarack Nickel Project in Aitkin County, Minnesota. Talon said the execution of the agreement follows an extensive and detailed due diligence period conducted by Tesla and lengthy negotiations between the parties.

“This agreement marks the beginning of an innovative partnership between Tesla and Talon for the responsible production of battery materials directly from the mine to the battery cathode. Talon is committed to meeting the highest standards of responsible production that are fully traceable and have the lowest embedded CO2 footprint in the industry. Talon is pleased to support Tesla’s mission to accelerate the transition to renewable energy, “said Henri van Rooyen, CEO of Talon.

The Talon team has taken an innovative approach to the discovery, development and production of battery materials, including to permanently store carbon as part of mining and the study of the new extraction of battery materials. Responsible procurement of battery materials has long been a focus for Tesla, and this project has the promise of accelerating the production of sustainable energy products in North America, “said Drew Baglino, SVP for Powertrain and Energy Engineering at Tesla.

Today, nickel prices held high for more than two months, boosted by demand from the battery sector for electric vehicles lowering stocks held at the London Metal Exchange (LME) approved department stores, according to a Reuters report.

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