The German chemical company BASF and Norilsk Nickel, the Russian nickel and palladium mining and smelting company, signed a Memorandum of understanding and began negotiations on the supply of raw materials to Europe for the subsequent production of materials for lithium-ion batteries, according to a joint statement of the companies.
At the first phase, BASF may invest up to €400 million for the construction of production capacity for cathode materials in Europe, while a refining plant of Norilsk Nickel in Finland’s Harjavalta will supply raw materials for BASF. Also Norilsk Nickel will supply nickel and cobalt raw materials of its Russian production assets and to transfer the experience in the field of trading and refining of materials.
