Stellantis has announced that it will invest $155 million to support the operations a sustainable copper mine located in Argentina – a project it expects to support its goal to become carbon net zero by 2038. The company confirmed that is acquiring a 14.2% equity stake in McEwen Copper, a subsidiary of Canadian mining company McEwen Mining which owns the Los Azules project in Argentina, and the Elder Creek project in Nevada, USA.
From 2027, Loz Azules plans to produce 100,000 tons of cathode copper annually at 99.9% purity – with the resources capable of securing the operation for a minimum of 33 years. Stellantis expects that it will be able to supply some of the projected copper demand in 2027. The company has cited copper as a strategic raw material that will support the production of new electric mobility solutions – including new EV batteries.
Stellantis’ investment in Loz Azules ultimately works to support its Dare Forward 2030 plan. Through it, the company is aiming to achieve a 100% passenger car BEV sales mix in Europe, and a 50% passenger car and light-duty truck BEV sales mix in the U.S. by 2030. In Brazil, Stellantis is targeting approximately 20% LEV sales mix by the end of the decade.