Portuguese energy company Galp said late on Tuesday it has dropped its plan to build the Aurora lithium refinery after it failed to find a new partner to replace Northvolt, a Swedish maker of batteries for electric vehicles.

Additionally, declining lithium prices, attributed to an oversupply from China, further diminished the attractiveness of the project. In the statement Galp said: “Despite signif

Galp Energia drops its plans for the Aurora lithium refinery project following its failure to secure a new partner to replace Northvolt AB.

GALP abandons Setúbal lithium refinery project after partner drops out; Refinery was to have “taken advantage” of Portugal’s lithium reserves

Portuguese energy company Galp has officially canceled its €1 billion Aurora lithium refinery project in Setúbal, citing a lack of funding and the inability to secure a new international partner. The refinery was poised to process 35,000 tonnes of battery-grade lithium hydroxide annually after 2026.