BASF, Eramet cancel $2.6B nickel smelter project in Indonesia

seekingalpha06-25

BASF (OTCQX:BASFY) and French miner Eramet (OTCPK:ERMAF) (OTCPK:ERMAY) said Monday they have canceled a planned $2.6B joint nickel-cobalt refining project in Indonesia, citing significant changes in ...

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BASF  said the global availability of battery-quality nickel had improved since the project was conceived, and it no longer sees the necessity for such a substantial investment. The Indonesian government has expected the Sonic Bay project would produce ~67K tons of nickel and 7.5K tons of cobalt annually. 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