BASF and Eramet's joint venture plant plans canceled

BASF and French mining company Eramet originally planned to build a joint venture plant in Indonesia to produce nickel cobalt hydroxide (MHP), a raw material for electric vehicle batteries. However, due to improved supply conditions in the global nickel market, BASF announced the termination of the 2.4 billion euro project. The plant was originally scheduled to start production in 2026, with an estimated annual production capacity of 67,000 tons of nickel and 7,500 tons of cobalt.