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Researched by Industrial Info Resources (Sugar Land, Texas)-- Glencore plc (Baar, Switzerland) is enlarging its footprint in the market for electric-vehicle (EV) batteries with a $200 million investment in Li-Cycle Holdings Corporation (NYSE:LICY) (Toronto, Ontario). Glencore will supply crucial feedstock to Li-Cycle, including waste from defunct batteries. Industrial Info is tracking more than $15 billion in active global projects from Glencore, including about $3.3 billion worth in North America.
Click on the image at right for a graph detailing Glencore's active North American projects, by project type.
Li-Cycle is one of the leading North American companies in the development of lithium-ion batteries, including resource recovery and recycling. "Clearly, with the demand for battery metals, we certainly see growth in our nickel-marketing business, in our copper-marketing business, in our cobalt-marketing business," said Gary Nagle, the chief executive officer of Glencore, in a February earnings-related conference call.
Earlier this year, Li-Cycle began construction on an estimated $485 million lithium hydrometallurgical refinery hub in Rochester, New York, which is designed to process 35,000 tons per year of "black mass" battery material. Black mass comprises the shredded remnants of a battery that has outlived its use, and typically consists of high amounts of lithium, manganese, cobalt and nickel metals. Li-Cycle believes the output from the Rochester facility could be used in the production of up to 225,000 EVs per year.
The Rochester facility will support Li-Cycle's battery-recycling program, which aggregates and refines spent lithium-ion batteries so the materials are separated and can be made into products. Li-Cycle completed construction in September 2021 on a battery recycling facility in Rochester. The company plans to construct similar recycling facilities across the U.S., including a proposed plant in Tuscaloosa, Alabama, which is in its early design phases.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can read detailed project reports on Li-Cycle's refinery hub and recycling plant in Rochester, and its proposed recycling plant in Tuscaloosa.
"We're pleased to launch our strategic partnership with Glencore, enabling us to pursue our shared vision to enable sustainable, localized supply chains for electrification metals," said Ajay Kochhar, the chief executive officer of Li-Cycle, in a press release. "Further, Glencore's investment bolsters Li-Cycle's already strong balance sheet, further enhancing our ability to complete our current pipeline of Spoke and Hub facilities and meet our operating needs, while maintaining financial flexibility."
Glencore executives believe the battery market is especially good for their company's nickel business. "A lot of our growth capital is going into this particular [nickel] business, particularly revitalizing and extending the life of the Canadian business," said Steven Kalmin, the chief financial officer of Glencore, in the February earnings call.
Kalmin pointed to the ongoing construction of Glencore's $1.3 billion nickel and copper mine in Onaping, Ontario, which is expected to produce 20,000 tons per year of nickel and 9,000 tons per year of copper. Nickel provides high energy density for lithium-ion batteries, while copper is used a current collector. Subscribers can learn more about the Onaping mine from Industrial Info's detailed project report.
Glencore also is performing an estimated $287.7 million life extension project at its Raglan Nickel Mine and Concentrator near Kangiqsujuaq, Quebec. The company wants to continue feeding its nearby 1.5 million-ton-per-year processing plant by maintaining Raglan's production capacity of 40,000 tons per year of nickel concentrate from 2021 to 2035. Glencore recently experienced a setback at Raglan, in which 620 striking union workers forced the company to suspend operations. Subscribers can learn more from Industrial Info's detailed project report.
Glencore also is at work on a capital improvement project at its Horne Copper Smelter in Rouyn-Noranda, Quebec, which produces 300,000 tons per year of copper. The company expects the upgrades to be completed by the end of 2022. Subscribers can learn more from Industrial Info's detailed project report.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
Click on the image at right for a graph detailing Glencore's active North American projects, by project type.Li-Cycle is one of the leading North American companies in the development of lithium-ion batteries, including resource recovery and recycling. "Clearly, with the demand for battery metals, we certainly see growth in our nickel-marketing business, in our copper-marketing business, in our cobalt-marketing business," said Gary Nagle, the chief executive officer of Glencore, in a February earnings-related conference call.
Earlier this year, Li-Cycle began construction on an estimated $485 million lithium hydrometallurgical refinery hub in Rochester, New York, which is designed to process 35,000 tons per year of "black mass" battery material. Black mass comprises the shredded remnants of a battery that has outlived its use, and typically consists of high amounts of lithium, manganese, cobalt and nickel metals. Li-Cycle believes the output from the Rochester facility could be used in the production of up to 225,000 EVs per year.
The Rochester facility will support Li-Cycle's battery-recycling program, which aggregates and refines spent lithium-ion batteries so the materials are separated and can be made into products. Li-Cycle completed construction in September 2021 on a battery recycling facility in Rochester. The company plans to construct similar recycling facilities across the U.S., including a proposed plant in Tuscaloosa, Alabama, which is in its early design phases.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can read detailed project reports on Li-Cycle's refinery hub and recycling plant in Rochester, and its proposed recycling plant in Tuscaloosa.
"We're pleased to launch our strategic partnership with Glencore, enabling us to pursue our shared vision to enable sustainable, localized supply chains for electrification metals," said Ajay Kochhar, the chief executive officer of Li-Cycle, in a press release. "Further, Glencore's investment bolsters Li-Cycle's already strong balance sheet, further enhancing our ability to complete our current pipeline of Spoke and Hub facilities and meet our operating needs, while maintaining financial flexibility."
Glencore executives believe the battery market is especially good for their company's nickel business. "A lot of our growth capital is going into this particular [nickel] business, particularly revitalizing and extending the life of the Canadian business," said Steven Kalmin, the chief financial officer of Glencore, in the February earnings call.
Kalmin pointed to the ongoing construction of Glencore's $1.3 billion nickel and copper mine in Onaping, Ontario, which is expected to produce 20,000 tons per year of nickel and 9,000 tons per year of copper. Nickel provides high energy density for lithium-ion batteries, while copper is used a current collector. Subscribers can learn more about the Onaping mine from Industrial Info's detailed project report.
Glencore also is performing an estimated $287.7 million life extension project at its Raglan Nickel Mine and Concentrator near Kangiqsujuaq, Quebec. The company wants to continue feeding its nearby 1.5 million-ton-per-year processing plant by maintaining Raglan's production capacity of 40,000 tons per year of nickel concentrate from 2021 to 2035. Glencore recently experienced a setback at Raglan, in which 620 striking union workers forced the company to suspend operations. Subscribers can learn more from Industrial Info's detailed project report.
Glencore also is at work on a capital improvement project at its Horne Copper Smelter in Rouyn-Noranda, Quebec, which produces 300,000 tons per year of copper. The company expects the upgrades to be completed by the end of 2022. Subscribers can learn more from Industrial Info's detailed project report.
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
