Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Li-Cycle and Glencore unveil plans for recycling hub in Italy

Li-Cycle and Glencore unveil plans for recycling hub in Italy

(Reuters) – Battery recycler Li-Cycle Holdings Corp said on Tuesday it planned to develop a recycling hub in Italy along with Swiss miner and commodity trader Glencore Plc to produce battery materials including lithium.

Canada-based Li-Cycle had earlier announced in March that it would be building a French battery processing facility amid rising demand for lithium due to its key role in transition towards net zero.

The two companies are expected to complete a joint feasibility study for the project by mid-2024, Li-Cycle said.

Once the companies make a final investment decision on the project, commissioning of the hub in Portovesme, Italy, is expected to commence in late 2026 to early 2027.

The Portovesme Hub is expected to have processing capacity of up to 50,000 tonnes to 70,000 tonnes of black mass annually, or the equivalent of up to 36 gigawatt hours of lithium-ion batteries, Li-Cycle added.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Glencore had announced an investment of $200 million into Li-Cycle last year.


(Reporting by Sourasis Bose in Bengaluru; Editing by Rashmi Aich)


Recent Post: