BASF Cancels Plans for Lithium Mining Assets in Chile

Tuesday, 2 July 2024, 23:48
BASF, a global chemicals giant, has decided to cancel its lithium mining plans in Chile, attributing the decision to the sluggish growth in electric vehicle adoption worldwide. This move follows BASF's recent withdrawal from a refinery project in Indonesia, indicating a shift in the company's strategic focus.
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BASF Cancels Plans for Lithium Mining Assets in Chile

BASF Cancels Plans for Lithium Mining in Chile

BASF, a leading chemical company, has announced the cancellation of its lithium mining assets in Chile.

Global Electric Vehicle Slowdown

BASF's decision is influenced by the slowdown in the global adoption of electric vehicles, impacting the demand for lithium.

This move comes after BASF's withdrawal from a refinery project in Indonesia, which signals a strategic shift within the company.

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