Australia's Element 25 jumps most in over 2 months on deal with Stellantis

Element 25

09/01/2023 24:42

** Shares of Element 25 Ltd  E25.AX  jump as much as 16.2%
to A$1.115, biggest intraday pct gain since Oct 31
    ** The manganese producer says it has signed a binding
agreement with Stellantis N.V.  STLA.MI  
    ** Says co to supply battery-grade manganese sulphate to
support Stellantis' EV strategy
    ** Says Stellantis to part-fund development of co's
manganese sulphate processing facility with $30 mln investment
in two tranches
    ** Shares touch their highest level since Dec 6
    ** Stock fell 28.5% in 2022
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))