Glencore to build Europe's largest battery recycling plant
Mining and commodities giant Glencore (LON: GLEN) has joined forces with Canada's Li-Cycle Holdings (NYSE: LICY) to build a battery recycling plant in Italy, set to become Europe's largest facility of this kind.
The Swiss company, which has a 10% stake in Li-Cycle, wants to convert an old lead refinery it has in Sardinia into a plant that will help it reuse expensive key raw materials such as cobalt, lithium and nickel.
The new facility, which could be commissioned by late 2026 or early 2027, would have a processing capacity of between 50,000 and 70,000 tonnes a year of pre-treated scrap product, known as black mass.
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