German chemical conglomerate BASF, Russian miner Nornickel and Finnish state-owned energy company Fortum have signed a letter of intent for a battery recycling cluster in Harjavalta, Finland, serving the electric vehicles (EV) market.
The joint venture aims to foster the production and use of responsibly produced recycled raw materials in the battery market, using closed-loop recycling to re-use the metals in spent batteries.The project builds on an agreement between BASF and Nornickel made in October 2018, in which the latter agreed to supply the former with nickel and cobalt feedstock from its refinery in Harjavalta. As part of that agreement, BASF said that from late 2020 it...