Glencore and Li-Cycle Announce Joint Study to Develop Europe-wide Recycling Center Through Redevelopment of Portovesme Plant to Become Europe's Largest Source of Battery Grade Recycled Lithium, Nickel and Cobalt recycled.

The formalization comes just a few days before the expected working group which, on May 17 at the Ministry of Enterprise and Made in Italy, will have to discuss the future development of the industrial site after the stop to the lead line.
At stake is the first European fully closed-cycle solution from raw material sources from lithium batteries to quality battery products. The processing capacity of the new hub is estimated to be between 50,000 and 70,000 tonnes of "black mass" per year or the equivalent of 36 GWh of lithium-ion batteries. The black mass handled at the hub is expected to be supplied by Li-Cycle's Spoke network in Europe and through Glencore's commercial network.
The definitive feasibility study will begin in mid-2023. An accelerated timing thanks to the reuse of part of the existing Glencore plants in Portovesme.

The Portovesme hub will produce critical raw materials for batteries, including nickel, cobalt and lithium, starting from the contents of spent batteries . It will leverage state-of-the-art hydrometallurgical technology from Li-Cycle – the industry leader in lithium-ion battery resource recovery – and will be the largest manufacturing plant for sustainable battery products in Europe.

«Portovesme – reads a note – has a series of important already existing infrastructures which include access to a port, infrastructure, hydrometallurgical production plants and a qualified workforce».

Glencore and Li-Cycle «will jointly undertake a final feasibility study within 60 days of this announcement. The study is expected to be completed by mid-2024. Subject to a final investment decision, the project involves construction and subsequent commissioning in operation of the Portovesme hub expected between the end of 2026 and the beginning of 2027". “This project, combined with our current presence in the supply of raw materials and in the recovery of battery metals – commented – reinforces our ambition to become the partner of choice in the field of circular economy for the European battery and electric vehicle industry. This also represents a significant step in our collaboration with Li-Cycle, a preferred partner in the lithium-ion battery recovery industry. The creation of a hub through the transformation of our Portovesme site, which could become Glencore's first industrial activity for the production of lithium for batteries, will allow us to effectively close with our European OEM and gigafactory customers, all aspects of the chain of supply, in this way we will cut delivery times, we will contribute to reducing emissions by minimizing transport logistics and we will support Italy's and Europe's ambitions to be global players in the circular economy". “The Portovesme hub – – represents a reference project for the European battery recovery industry and will constitute the largest source of recycled lithium for batteries on the continent. . We are excited to expand our global strategic partnership with Glencore and leverage the lessons learned from the Rochester facility to support the rapid growth of the environmentally responsible lithium-ion battery ecosystem. Li-Cycle's expansion into Europe aligns with our modular approach strategy, as we replicate the success of our North American model, reflecting customer demand and commercial bargaining with a network of strategically positioned and a centralized after-treatment hub».