Australia's Alliance Nickel falls as Stellantis ends nickel supply deal

Alliance Nickel

07/11/2025 24:55

** Shares of Alliance Nickel AXN.AX fall as much as 12.8% to A$0.041, hitting their lowest level since September 30

** Stock posts its biggest intraday pct loss since May 14

** Co says carmaker Stellantis STLAM.MI will terminate their supply deal for battery-grade nickel and cobalt from the NiWest project, effective December 3

** Says nickel prices have remained under sustained pressure over the past two years, making it difficult to fund new projects

** Stock up nearly 15% this year, including the day's move

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))