German BASF and French mining company Eramet have finalized a $2.6 billion partnership agreement to invest in a nickel smelter in Indonesia.
The investment agreement for the project will be worth about 2.4 billion euros ($2.59 billion), the investment ministry reported, citing BASF CEO Martin Brudermüller. Within the scope of the project, materials to be used in batteries for electric vehicles will be manufactured.
Brudermüller said, "We would like to inform you that our agreement with Eramet is at the final stage, and it is likely that our decision will be made in the first half of 2023."
An investor presentation by Eramet this month showed that the partnership will build a hydro-metallurgical complex with a high pressure acid leaching (HPAL) unit to produce mixed hydroxide precipitate (MHP), which is expected to begin production in early 2026.
Comments
No comment yet.