Alliance Nickel and Stellantis to Renegotiate Offtake Agreement

Alliance Nickel Ltd (ASX: AXN) announced that Stellantis N.V. has issued a termination notice for their Binding Offtake Agreement, effective December 3, 2025. The decision stems from unmet contractual milestones caused by weak nickel market conditions and resulting financing delays. Despite the termination, Stellantis has reaffirmed its interest in the NiWest Nickel-Cobalt Project and expressed intent to renegotiate terms that align with the updated project timeline and market realities.

Alliance continues to explore strategic financing options, including a potential SPAC transaction that could lead to a Nasdaq listing. Managing Director Paul Kopejtka emphasized that while the termination reflects current challenges, it also opens the door for a more sustainable agreement. He reiterated confidence in the long-term outlook for nickel and cobalt, given their critical role in the growing battery and electric vehicle markets.

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