Brazil's Vale signs long-term deal to supply Tesla with nickel

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Vale did not provide financial details on the deal and did not say for how long it will last.

The Brazilian miner said in a securities filing that the agreement involves supplying Tesla with low-carbon class 1 nickel and is in line with its strategy of increasing its exposure to the electric vehicle industry.

Vale said it aims for between 30% and 40% of its class 1 nickel sales to go to the fast-growing sector.