Eramet, BASF Cancel Plan to Invest $2.6 Billion in Refining Complex in Indonesia

INVESTMENT - French miner Eramet said on Monday it had decided, along with Germany's BASF, to cancel a $2.6 billion joint investment project in a nickel-cobalt refining complex in Weda Bay, Indonesia.

"After a thorough evaluation, including discussions about project execution strategy, both partners have decided against this investment," Eramet said in a news release, without elaborating.

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