Overview
- The Israel-based miner ended its joint venture with Shenzhen Dynanonic and dropped a €285 million plan to make lithium‑iron‑phosphate cathodes at the former Iberpotash site in Sallent.
- The decision follows a review citing weak EV demand, high costs and low market prices, plus new Chinese export controls that restrict technology transfer for battery materials.
- U.S. Department of Energy funding for ICL’s St. Louis, Missouri plant was suspended under President Donald Trump, and the EU’s Innovation Fund rejected a €140 million grant request on Nov. 3.
- ICL will stay in the battery supply chain as a raw‑materials supplier but will not pursue development of active cathode materials.
- The company expects an approximately $40 million impairment and says it is working with Catalan and Spanish authorities on alternative uses for the Sallent site.