(Alliance News) - Glencore PLC said on Wednesday that it has partnered with industrial mining company Managem SA to produce cobalt, nickel and lithium from Managem's refinery in Morocco.
The Switzerland-based commodity trader and mining company explained that the cobalt, nickel and lithium will be produced from recycled battery materials.
The tolling agreement is for around 1.2 kilotonnes of recycled cobalt per year as well as unspecified amounts of nickel hydroxide and lithium carbonate.
The partnership is conditional on a feasibility study assessing the commercial viability of modifying and deploying the refinery for recovering cobalt, nickel and lithium from black mass. Black mass is what you obtain once a battery has been processed for recycling.
The feasibility study will focus on achieving high recoveries and a low carbon footprint. It is expected to be completed by the end of the first quarter of 2022.
Managem will provide the lithium-ion batteries recycling technology and Glencore will market the recycled products.
Shares in Glencore were up 4.1% at 404.70 pence on Wednesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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