Carmakers Circle as Vale Weighs Selling a Stake in Metals Unit
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Electric vehicles may not use fossil fuels, but they guzzle up other precious resources buried deep in the Earth's crust that have been harder to come by. Now, a new opportunity to mine them has big-time EV players revving their whisper-quiet engines.
Rio de Janeiro-based metals giant Vale is looking to sell a $2.5 billion minority stake in its mining operations for copper and nickel, two key ingredients for EV batteries, the Financial Times reported Wednesday. American auto giants, not known for their mining prowess, are circling the asset as a way to shore up supply. Tata, we're not in Detroit anymore.
Source Fool.com
