#BASF and #Norilsk #Nickel enter exclusive negotiations to cooperate on raw material supply for battery materials production in #Europe
#BASF and PJSC MMC #Norilsk Nickel (Nornickel) announced today that they have signed a Memorandum of Understanding and entered exclusive negotiations to cooperate on the supply of raw materials for future battery materials production for #Lithium-ion batteries in #Europe. BASF intends to invest up to EUR400 million in a first step to build industry-leading production plants for cathode materials in Europe. Through the prospective agreement, BASF would receive the raw materials from the #Nornickel metal refinery in Harjavalta, #Finland. Nornickel would also provide a secure supply of #Nickel and #Cobalt feedstock from its #Russian mines at market prices. Along with its leading raw materials position, Nornickel also brings significant metals refining and trading experience to the cooperation.
Read more at: http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=s2qjjplt&ArticleHeadline=MMC_Norilsk_Nickel_BASF_and_Norilsk_Nickel_enter_exclusive_negotiations_to_cooperate_on_raw_material_supply_for_battery_materials_production_in_Europe