#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.
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