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Energy Storage

BASF won’t invest in Indonesian nickel refinery

by Matt Blois
June 29, 2024 | A version of this story appeared in Volume 102, Issue 20
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After assessing the project for several years, BASF says it won’t partner with the mining firm Eramet to build a nickel and cobalt refinery in Indonesia. When the companies started evaluating the project in 2020, nickel, used to make battery materials, was in short supply. BASF says it’s now easier to obtain nickel, so it doesn’t need to build the plant. Chinese-owned firms produced 84% of the nickel in Indonesia last year, according to the research firm Benchmark Mineral Intelligence.

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