Wednesday, May 10, 2023

Glencore To Build Europe's Largest Battery Recycling Center (LICY; GLN)

I had thought we'd see more news out of Umicore, Johnson Matthey and Veolia but now it's the smaller players, Redwood, Li-Cycle etc., that seem to be making the headlines. From the Wall Street Journal, May 10:

Glencore and Li-Cycle Plan to Build Battery Recycling Hub in Italy
New hub would be the largest source of recycled battery-grade lithium in Europe, the companies say

Glencore and Li-Cycle Holdings on Tuesday said they are planning to build a new battery recycling hub in Italy.

The Anglo-Swiss commodity miner and trader and the Canada-based battery recycling upstart signed a letter of intent to develop a hub facility in Portovesme in Italy which would produce critical battery materials—including nickel, cobalt and lithium—from recycled battery content.

The companies said the project would be the largest source of recycled battery-grade lithium in Europe.

A definitive feasibility study for the site will start within the next two months and finish mid-2024, they said....

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