ICL and Dynanonic Cancel Electric Battery Component Plant Project in Sallent

The Israeli multinational and its Chinese partner dismiss the €285 million investment due to lack of funding and low market competitiveness.

Generic image of an abandoned industrial facility or land prepared for construction.
IA

Generic image of an abandoned industrial facility or land prepared for construction.

The multinational ICL and the Chinese firm Dynanonic have scrapped the cathode manufacturing project in Sallent (Bages), announced in January, citing economic and market reasons.

The project, which entailed an investment of 285 million euros, was intended for ICL's former mining facilities in the municipality, which have been closed since 2020. The company deems the operation unviable and uncompetitive without the anticipated aid, given the current context of low prices.
A key factor was the denial of 140 million euros from the European Innovation Fund, which the plant's promoters were counting on. Furthermore, they cite the impact of the end of electric vehicle subsidies in the US, which were promoted during the Biden administration and reversed by the Trump administration.

"This must be industrial land and we must make the necessary changes, urbanistic and physical, to reindustrialize this area, whether with a single industry or with more than one."

Oriol Ribalta · Mayor of Sallent
The Mayor of Sallent, Oriol Ribalta, described the decision as a “lost opportunity” to reindustrialize the mining area, but assured that they will continue working with the Generalitat and the Spanish Government to find industrial alternatives for the municipality.

"This is not good news for the Bages region. We must reflect on how we face the challenge of reindustrializing an area like this."

Eloi Hernández · President of the Bages Regional Council
The President of the Bages Regional Council, Eloi Hernández, regretted the news, understanding that the cancellation responds to global economic dynamics, but called for a strategic reflection on the industrial future of the region.