The province’s energy minister is welcoming word that Northvolt, a producer of lithium-ion batteries, has announced a multi-year agreement with Vale for the supply of low-carbon nickel products.

Vale is touting the agreement as reaffirming its position as a supplier of choice to the electric vehicle industry.

Vale says rounds from its Long Harbour refinery have a verified carbon footprint of 4.4 tonnes of CO2 equivalent per tonne of nickel.

Energy Minister Andrew Parsons calls it very good news.

“It’s really a match made in heaven,” says Parsons, with mutual benefits to everyone involved—especially the province.

Bloomberg this week reported a deal struck between electric vehicle maker Tesla and Vale on the supply of low-carbon nickel. Parsons was unable to offer any comment on the reports but does say Newfoundland and Labrador is in a very good position to supply nickel to the global market.

“We have what the world wants,” says Parsons.