Eramet, BASF cancel plan to invest $2.6bn in refining complex in Indonesia

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.