The construction of one of Europeʼs largest lithium refineries in Portugal has been postponed. Due to its complexity and uncertainties regarding financing, the 50:50-joint-venture Aurora project by Portuguese oil company Galp and Swedish battery manufacturer Northvolt will be delayed. The refinery was originally expected to be completed by the end of 2025 and to start production in 2026.
Total investment of one billion dollars
The project involves a total investment of 1.1 billion US dollars. However, according to Galp, national or European funding is still required and has not yet been secured. In addition, there are still studies to be conducted before a final investment decision can be made. The company did not give a new timetable, but emphasized its existing commitment to the plant that will have an annual production capacity of up to 35,000 tons of lithium hydroxide. This would be enough to produce approximately 50 gigawatt-hours of lithium-ion batteries per year. Half of the production is intended to be used by Northvolt for its own battery production.
