Glencore and Managem have joined forces to produce cobalt from recycled cobalt, nickel and lithium.
The production process will take place at Managem’s CTT Hydrometallurgical Refinery at Guemssa (37 km from Marrakech) in Morocco.
Managem will deliver the lithium-ion battery recycling technology that was developed and tested in the REMINEX R&D Centre’s pilot plant.
Glencore will sell the recovered products to its global network of portable electronics and automotive clients.
The deal is in line with Glencore’s ongoing commitment to assisting in the transition to a low-carbon economy and achieving its own goal of net-zero total emissions by 2050.
“Demand for cobalt is expected to increase significantly in the next decade, largely driven by the green energy transition, most actors in the supply chain seek to ensure sustainably sourced materials and we strongly believe that recycling will play a crucial role in addressing this demand,” said Imad Toumi, Chairman & CEO of Managem.
“Managem is fully engaged in supporting the global circular economy through cobalt, nickel and lithium at the same time as mining cobalt with the highest CSR standards. This partnership with Glencore represents an exciting step up in our development in this field.”
According to the official announcement, the companies will enter into a 5-year tolling agreement for c.1.2kt of recycled cobalt per year as well as Nickel Hydroxide and Lithium Carbonate.
“We are proud to announce our partnership with Managem. As the world seeks to address the challenge of climate change, primary/recycled cobalt and other future facing commodities are set to play a pivotal role in decarbonizing energy consumption and delivering the electric vehicle revolution,” said David Brocas, Head Cobalt Trader, Glencore.
“Glencore is already a leading producer, recycler and supplier of these commodities, helping to underpin our ambition of achieving net zero total emissions by 2050.”