Tesla (TSLA) has secured a long-term nickel supply contract with Vale (VALE). Brazil-based Vale is one of the world’s largest mining companies, with operations in more than two dozen countries. In addition to nickel, it also mines iron ore that is processed into steel. Elon Musk-led Tesla makes electric vehicles (EV).  The deal calls for Vale to supply Tesla with low-carbon nickel of the Class 1 type. Nickel is an important material in the manufacture of electric vehicle batteries. The nickel that Vale will deliver to Tesla will come from its Canadian operations.
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