A €50 million equity purchase in Vulcan Energy Resources, making Stellantis its second largest shareholder, will help the Australian mining company expand operations in Germany. The money will be spent on expanding Vulcan’s Upper Rhine Valley Brine Field project, which produces geothermal energy and lithium brine. Moving forward, Vulcan will produce lithium hydroxide without using fossil fuels.
Stellantis purchased its stock at AU$6.622 per share, likely a negotiated price given that shares were above $10 earlier this year but had fallen to $5 just before the announcement. $6.62 would be a good price for Stellantis, given that shares had been above that rate for a full year.
David Zatz started what was to become the world’s biggest, most comprehensive Mopar site in 1994 as he pursued a career in organizational research and change. After a chemo-induced break, during which he wrote car books covering Vipers, minivans, and Jeeps, he returned with Patrick Rall to create StellPower.com for daily news, and to set up MoTales for mo’ tales.
David Zatz has around 30 years of experience in covering Chrysler/Mopar news and history, and most recently wrote Century of Chrysler, a 100-year retrospective on the Chrysler marque.
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