Japanese trading house Sojitz plans to acquire a 34pc stake in eCycle Solutions, a wholly-owned Canadian metal recycling subsidiary of Japanese supplier JX Nippon Mining and Metals, targeting to begin collaboration after April.
Sojitz agreed on 10 February to purchase 34pc of eastern Canada's Ontario-based eCycle Solutions from JX for undisclosed values. The trading house has attempted to establish a urban mining and metal recycling business on the back of the global decarbonisation trend, and needs to secure metal resources. JX intends to benefit from Sojitz's expertise in businesses in North America.
JX acquired the entire share in eCycle Solutions from Montreal-based Horizon Capital Holdings last year to import to Japan 3,600 t/yr of e-waste, or discarded household appliances and electronic devices, collected in Canada. JX then recycled the scraps into raw metals. eCycle Solutions owns seven recycling sites in Canada where it processes and sorts e-wastes into copper, precious metals, iron, aluminum and plastics, before selling recycled materials.
JX has geared up its efforts to secure e-waste, as it targets to replace 50pc of copper ore with recycled scraps by 2040.
