BASF cancels Chilean lithium mining investment due to EV slowdown, shifts focus to European battery recycling.

BASF halts lithium mining investment plans in Chile due to global slowdown in electric vehicle adoption, impacting battery metal prices. BASF withdraws from initial talks with Vancouver-based Wealth Minerals Ltd., which has exploration projects in Chile, and scrapped plans for a $2.6 billion nickel-cobalt refinery in Indonesia. Instead, BASF plans to support European operations via a new battery recycling plant in Germany.