Glencore Invests in UK's Britishvolt, Will Supply Cobalt for Batteries
August 17 2021 - 5:29AM
Dow Jones News
By Jaime Llinares Taboada
Glencore PLC said Tuesday that it has signed a partnership with
and made an investment in U.K. lithium-ion battery-cell developer
Britishvolt Ltd.
The Anglo-Swiss commodity trading and mining company said the
deal is for the supply of cobalt to Britishvolt and includes an
undisclosed investment amount.
"As the mobility and energy transition accelerates, so does
future demand for battery metals such as cobalt, copper and nickel.
Glencore is already a leading producer and supplier of these
metals, helping to underpin our ambition of achieving net zero
total emissions by 2050," Glencore's head cobalt trader David
Brocas said.
Britishvolt has plans to build the U.K.'s first large,
full-cycle battery cell manufacturing site in Northumberland,
England, with a total investment of 2.6 billion pounds ($3.60
billion).
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
August 17, 2021 05:17 ET (09:17 GMT)
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