BASF explores lithium processing in Chile and appoints China head as the new CEO

According to the Bloomberg News this week, German chemicals giant BASF is considering establishing a lithium processing plant in Chile. BASF is in the early stages of considering the plant which would convert lithium extracted from Chilean salt flats into cathodes for electric vehicle batteries. The company has recently signed a deal with Wealth Minerals for lithium offtake. If the project materializes, BASF would join Chinese firms BYD and Tsingshan Holding Group in developing cathode factories in Chile, according to the news. By venturing into lithium processing and cathode production, BASF is strategically positioning itself to progress further along the battery supply chain.
Additionally, on December 20, Financial Times said that BASF’s current China head, Markus Kamieth, has been appointed as the new CEO of the group, signaling its overall focus and strategies.