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.

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

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.