Stellantis is reportedly planning to purchase rare earths from NioCorp in the U.S.

 

Stellantis is reportedly planning to purchase rare earths from NioCorp in the U.S.  The automaker would sign a ten-year agreement for neodymium-praseodymium oxide, dysprosium oxide, and terbium oxide from the Elk Creek critical minerals project in southeast Nebraska. While no timetable or tonnage has been announced, Stellantis is speculated to provide financing for the project. "Further studies are required before determining whether extraction of rare earth elements can be reasonably justified and is economically viable after taking account of all relevant factors," said the automaker. Stellantis expects the procurement of rare earths will help it achieve carbon net zero by 2038. $STLA was up 3.20% for the day and 1.82% WoW on Friday afternoon.