The move is part of BASF plans to invest up to 400 million euros ($462 million) as a first step in building production plants for cathode materials in Europe.
The U.K. is currently just one of six EU countries allowed to import and export rough diamonds. Once stones enter Belgium and Portugal, they’re then free to move around the region.
Atlas Copco’s shares fell 9 percent at 1149 GMT, dragging Nordic industrial peers such as Sandvik and SKF lower, and also hitting German vacuum gear rival Pfeiffer Vacuum.