BASF has announced the abandoning of its planned investments in a nickel-cobalt refinery complex in Weda Bay, Indonesia. Back in 2020, BASF and Eramet, a global mining and metallurgy group, had signed an agreement to jointly explore the potential of such a project.
All negotiations stopped
Since then, the global nickel market has changed significantly, especially with regard to the availability of nickel from external sources, BASF claims. Therefore, the company no longer sees the need for such an investment and will discontinue all ongoing evaluation and negotiation activities for the project.
Raw material availability remains priority
However, BASF stresses that despite its exit from the Weda Bay project, the supply of critical raw materials for the production of cathode precursors remains important. To this end, the company operates a sourcing team focused on purchasing and trading metals. BASF claims to have already established a network of partners to ensure a stable supply of raw materials for the cathode materials business.
Source:
https://www.basf.com/global/en/media/news-releases/2024/06/p-24-224.html
