Glencore and Li-Cycle Plan to Build Battery Recycling Hub in Italy
May 09 2023 - 7:10AM
Dow Jones News
By Elena Vardon
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 company 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.
They anticipate the creation of a joint venture to repurpose
part of the existing Glencore metallurgical complex in Portovesme
into the hub, with construction expected to start in late 2026 to
early 2027 subject to a final investment decision by both
parties.
The hub is expected to have a processing capacity of between
50,000 and 70,000 tons of black mass input per year once
operational, which is the equivalent of up to 36 gigawatt hours of
lithium-ion batteries, the companies added.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
May 09, 2023 06:55 ET (10:55 GMT)
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