Stellantis and Glencore-backed ACG failed to acquire Atlantic Nickel and Mineração Vale Verde from Appian Capital for $1bn.

Stellantis and Glencore-backed ACG, a company with a vision to consolidate the critical metals industry, failed to acquire Atlantic Nickel and Mineração Vale Verde, two Brazilian battery metals-focused companies, from Appian Capital, the investment advisor to long-term value focused private capital funds that invest in mining and mining-related companies, for $1bn. "We are very proud to announce this transaction in strategic partnership with Glencore, Stellantis, La Mancha, PowerCo and Royal Gold, as well as senior debt providers Citigroup, ING and Societe Generale. It will establish ACG Electric Metals as a premier supplier of critical metals into the western EV value chain, with best-in-class ESG characteristics and minimal CO2 emissions," Artem Volynets, ACG CEO.