“It gives us a lot of additional flexibility depending on what the market is doing,” Michael Meding, who leads the unit, said in an interview alongside McEwen while attending an industry event in Florida.
Stellantis’ entry into McEwen Copper’s shareholder register represents the first major equity investment by a carmaker in a copper company, according to McEwen, the founder of Goldcorp Inc.
If the high attendance of auto executives at this week’s BMO Capital Markets mining event is any measure, it won’t be the last. The auto industry is stepping up efforts to secure supplies of the materials needed to move away from fossil fuels. General Motors Co. is said to be vying for a stake in Vale SA’s base metals unit as Tesla Inc. weighs a takeover of Sigma Lithium Corp.
Read more: Tesla, GM among carmakers flocking to mining events amid battery metals scramble
The transaction with Stellantis gives the maker of Peugeot cars…
