BASF pulls plug on potential mining investments

BASF withdrew from initial talks with Wealth Minerals Ltd, the Vancouver-based firm that has exploration projects in Chile, the German company said. — Reuters

FRANKFURT: German chemicals giant BASF SE has abandoned plans to invest in lithium mining assets in Chile as a slowdown in electric vehicle adoption worldwide drags down battery metal prices.

BASF withdrew from initial talks with Wealth Minerals Ltd, the Vancouver-based firm that has exploration projects in Chile, the German company said.