(Reuters) -Australia’s Alliance Nickel said on Friday carmaker Stellantis will terminate their supply deal for battery-grade nickel and cobalt from the NiWest project, effective December 3, citing missed milestone deadlines.

The company attributed the delays to challenging conditions in the global nickel market, which have limited opportunities to secure financing. Alliance is the latest Australian producer forced to renegotiate supply agreements with automakers.

The miner said nickel prices have remained under sustained pressure over the past two years, making it difficult to fund new projects.

Alliance said weaker prices have hit its financial position, prompting it to defer other commitments while it works to secure adequate financing for the NiWest project in Western Australia.

Ste

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