Nornickel and BASF strike a nickel and cobalt supply deal to combine battery efforts
The industry is working to boost the nickel content at the expense of cobalt over the next two years in an effort to raise energy storage capacity and save on more expensive cobalt
Frankfurt/Moscow — Germany’s BASF and Russian miner Norilsk Nickel (Nornickel) have struck a nickel and cobalt supply deal to meet growing demand for electric vehicle (EV) batteries. Underpinned by a new BASF cathode plant in Finland, the agreement could provide fresh impetus to European efforts to create battery cell manufacturing capacity in a market dominated Chinese and Korean producers. Chemicals giant BASF will build a plant to produce cathode materials for batteries in Harjavalta, Finland, adjacent to a nickel and cobalt refinery owned by Nornickel, the world’s second-largest nickel miner and a major cobalt producer. “With the investment in Harjavalta, BASF will be present in all major regions with local production and increased customer proximity, further supporting the rapidly growing electric vehicle market,” Kenneth Lane, president of BASF’s Catalysts division, said on Monday. Industry analysts expect any boost in EV range to depend on advances in high-tech cathode chemic...
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