Mercedes-Benz is “able and willing” to invest capital in mining – CEO

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© Reuters. FILE PHOTO: Ola Ola Kaellenius, CEO of Daimler AG, speaks at the Automobilwoche car summit in Ludwigsburg, Germany, November 10, 2021. REUTERS/Andreas Gebert

(Reuters) – 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.

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