Automaker Stellantis and mining company NioCorp have entered into a preliminary 10-year offtake contract for the supply of rare earth oxides, a key mineral for electric vehicle (EV) production. This partnership aligns with Stellantis’s goal of attaining carbon neutrality by 2038 and securing resilient supply chains. Details of the agreement remain under negotiation, but the deal is anticipated to expedite NioCorp’s path to commercial production of magnetic rare earth oxides in the US and support its Elk Creek mining project.

Source: https://miningdigital.com/articles/stellantis-and-niocorp-sign-a-rare-earth-supply-agreement