China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Mercedes-Benz is willing to allocate capital to support or ramp up a mining business, chief executive Ola Kaellenius said on Thursday at the carmaker’s annual environmental, social and governance conference.
“We have fundamentally made the decision that if a deep sourcing opportunity presents itself down to the mine, we are able and willing to allocate capital to that,” Kaellenius said.
The company had opened up a raw materials office in Canada to further discussions in the region on sourcing raw materials following the signature of a battery material cooperation agreement with the Canadian government last year, chief technology officer Markus Schaefer added.
(By Victoria Waldersee; Editing by Friederike Heine)
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