06.29.17
BASF and PJSC MMC Norilsk Nickel (Nornickel) 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 €400 million in a first step to build 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.
BASF is an established cathode materials provider in the Asian and US markets through BASF TODA Battery Materials LLC in Japan and BASF’s production facility in Elyria, OH. A cooperation with Nornickel will provide the foundation to further expand BASF’s access to the developing cathode materials market in Europe.
“For Nornickel this project is an opportunity to increase our exposure to the high-potential and fast-growing rechargeable battery materials market,” said Sergey Batekhin, head of sales, commerce and logistics at Nornickel.
BASF intends to invest up to €400 million in a first step to build 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.
BASF is an established cathode materials provider in the Asian and US markets through BASF TODA Battery Materials LLC in Japan and BASF’s production facility in Elyria, OH. A cooperation with Nornickel will provide the foundation to further expand BASF’s access to the developing cathode materials market in Europe.
“For Nornickel this project is an opportunity to increase our exposure to the high-potential and fast-growing rechargeable battery materials market,” said Sergey Batekhin, head of sales, commerce and logistics at Nornickel.