By Jeffrey T. Lewis

 

SAO PAULO--Brazilian mining company Vale SA said Friday it signed a long-term contract to supply electric vehicle maker Tesla Inc. with nickel.

Vale didn't provide any financial details on the agreement. Vale is the world's biggest producer of nickel and iron ore, and the Rio de Janeiro-based miner said it plans to supply Tesla in the U.S. with nickel produced in Canada.

Nickel is a key element used to make the kind of batteries used in most electric vehicles. Vale said the agreement is part of the Brazilian company's plan to increase sales of its low-carbon, high-purity nickel to the electric car market.

Vale in March reached a multi-year agreement to supply nickel to Swedish battery developer and manufacturer Northvolt AB.

 

Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com

 

(END) Dow Jones Newswires

May 06, 2022 10:27 ET (14:27 GMT)

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