top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

4 Oct 2021

BHP’S New Deal with Toyota-Panasonic for Nickel Supply

The Index Today

BHP Group Ltd has announced its latest deal to become the primary nickel sulphate supplier for a joint venture between Toyota Corporation and Panasonic Corporation named Prime Energy & Solutions.

The firm will be using sulphate supplies from Western Australia which will further be used by the Japanese batter maker. In July, BHP had signed a deal to supply nickel to Tesla Inc as an initiative to reduce carbon emissions and promote battery vehicles. BHP plans to tap into the booming electric vehicles industry and has recently produced its first batch of nickel sulphate crystals at its facility in Kwinana, South of Perth.

The agreement signed with the metals trading unit of the automaker Toyota will help add more sustainability to the battery supply chain and lower carbon emissions, increase transparency regarding the sourcing of raw materials and human rights reporting.

BHP plans to expand its operations and look into recycling areas for battery scrap which can be further used for production of parts such as nickel bearings. Masaharu Katayama, CEO of Metals at Toyota Tsusho said in a statement, “This partnership has great potential to secure competitive raw materials for the EV value chains as well as to create battery material recycling loops, which is crucial for EV development in the future.”

©Photo: autobala

Clay pottery with table linens
bottom of page