Johnson Matthey, FMG to build Finland EV materials plant

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Item 1 of 2 The logo of Russia's miner Norilsk Nickel (Nornickel) is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin
[1/2]The logo of Russia's miner Norilsk Nickel (Nornickel) is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin Purchase Licensing Rights, opens new tab
  • To produce cathodes material for EV batteries
  • Capacity of 30,000 tonnes per year
  • Nornickel, SQM to supply plant
  • Construction to start this year
MOSCOW, April 19 (Reuters) - Johnson Matthey (JMAT.L), opens new tab and state investor Finnish Minerals Group (FMG) have agreed to build a plant to produce cathode materials used in electric vehicle (EV) batteries.
The plant will have a capacity of 30,000 tonnes of cathode materials and be powered by renewable energy, Johnson Matthey said in a statement, adding that construction is expected to start this year.
Russia's Nornickel (GMKN.MM), opens new tab will supply nickel and cobalt from its Harjavalta refinery in Finland and Chile's SQM (SQMA.SN), opens new tab will supply lithium hydroxide, Johnson Matthey said.
"The developments with Nornickel and SQM, in conjunction with the investment by Finnish Minerals Group, form an important part of the sustainable supply chain for our cathode materials plants in both Finland and Poland," Johnson Matthey said.
The plant will be part of an EV battery cluster in Finland which also includes German chemicals maker BASF (BASFn.DE), opens new tab and Finnish utility Fortum (FORTUM.HE), opens new tab.
Nornickel, a top producer of nickel, said last week it would boost output of nickel products at Harjavalta. read more

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Reporting by Polina Devitt and Maxim Rodionov; editing by Louise Heavens

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Thomson Reuters

Reuters correspondent in London with focus on the LME base metals, gold, silver and platinum group metals. Reporting on trade and everything related to the supply & demand balance. Previously, 15 years of reporting for Reuters from Moscow with focus on metals & mining, agriculture and fertilisers.

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