#BASF, #Eramet near $2.6 bln #Indonesia deal to process #Nickel for EV batteries

Germany’s BASF  and French miner Eramet are finalising a $2.6 billion partnership deal to invest in a facility in Indonesia to process nickel for use in batteries for electric vehicles, Indonesian officials said.

While overall battery demand for nickel makes up a small portion of the 3 million tonne market, Indonesia is primed to become the world’s biggest supplier as it builds out some 4.5 million tonnes of capacity that can supply both markets over the next five years, analysts estimate.

An investor presentation by Eramet this month showed that the planned new plant is expected to start production in early 2026, subject to a final investment decision, with an output capacity of up to 67,000 tonnes of nickel and around 7,000 tonnes of cobalt per year contained in MHP.

Read more at: https://www.reuters.com/markets/deals/basf-eramet-finalise-partnership-indonesia-nickel-smelter-indonesia-2023-01-18/

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