The Australian company aims to become one of the world’s lowest cost producers of lithium hydroxide, and says it is the most strategically located to serve the North American EV supply chain.

The US bank was behind requests to deliver about 75,000 tons of aluminum out of warehouses in Gwangyang, South Korea.

Cleveland-Cliffs and Esmark Inc have already offered over $7 billion.

Stellantis CEO called the Controlled Thermal partnership "an important step in our care for our customers and our planet as we work to provide clean, safe and affordable mobility."

Organizations like Bloomberg Green put a price tag of about $370 billion on the climate-spending measures.

Chief executive James Bouchard said he had $10 billion available and Esmark itself had no debt.

Both brownfield and greenfield mines in the region face issues of water stress.