Switzerland-based trading and mining firm Glencore and Canada's Li-Cycle have signed a letter of intent to develop a battery recycling facility in Portovesme, Italy targeting a commissioning date of late 2026 or early 2027.
It is expected to have a processing capacity of up to 50,000-70,000 t/yr of black mass, or the equivalent of up to 36GWh of lithium-ion batteries. This would be Europe's largest source of recycled battery-grade lithium, as well as recycled nickel and cobalt.
The black mass would be supplied by Glencore's commercial network and Li-Cycle's expanding Spoke network in Europe, adding to a growing collection of battery recycling facilities.
The companies will jointly start a definitive feasibility study within 60 days from now, which is expected to be completed by mid-2024. Subject to a final investment decision by the parties, the project will proceed to construction and then target commissioning in late 2026 or early 2027.
The companies also expect to form a 50:50 joint venture that would repurpose part of Glencore's existing metallurgical complex in Portovesme to create the battery recycling hub. The existing Portovesme complex was established in 1999 with Italian oil firm Eni's acquisition of two production sites, built in 1970 and 1929 respectively, and has historically been focused on zinc and lead production.
"Establishing a hub through the repurposing of our Portovesme site, which could become the first Glencore asset to produce battery-grade lithium, will enable us to truly close the loop for our European OEM and gigafactory customers across all aspects of the supply chain," said Glencore's global head of recycling Kunal Sinha. "It will shorten delivery times, reduce emissions by minimising the distance of the freight routes and support Italy and Europe's ambitions to be a global leader in the circular economy."
