The planned Portovesme hub, once operational, is anticipated to have a processing capacity of up to 50,000 to 70,000 tonnes of black mass per year
Glencore signs letter of intent with Li-Cycle to jointly study the feasibility of developing a critical battery materials recycling hub in Italy. (Credit: Glencore)
Glencore and Canada-based lithium-ion battery recycler Li-Cycle have signed a letter of intent (LoI) to jointly study the feasibility of developing a hub to produce critical battery materials from recycled battery content in Portovesme, Italy.
The Portovesme hub will leverage Li-Cycle’s hydrometallurgical technology to produce lithium, nickel and cobalt from recycled battery content.
The two companies plan to jointly begin a definitive feasibility study (DFS) for the project within 60 days from the announcement. The DFS is scheduled to be completed by mid-2024.
According to the companies, the Portovesme project will then move to construction phase, subject to a final investment decision.
Commissioning of the critical battery materials recycling hub is expected to start in late 2026 to early 2027.
The Portovesme hub, once operational, is anticipated to have a processing capacity of up to 50,000 to 70,000 tonnes of black mass per year or the equivalent of up to 36GWh of lithium-ion batteries.
The processed black mass at the hub will be delivered from Li-Cycle’s growing Spoke network in Europe and through Glencore’s commercial network, said the companies.
Li-Cycle co-founder and executive chairman Tim Johnston said: “The planned Portovesme Hub is a landmark project for Europe’s battery recycling industry and is expected to be the largest source of recycled battery-grade lithium on the Continent.
“We are excited to expand our global strategic partnership with Glencore and build on our learnings from the Rochester Hub in support of the rapid growth of the lithium-ion battery ecosystem in an environmentally friendly manner.”
Besides, Glencore and Li-Cycle are planning to form a 50-50 joint venture (JV) to repurpose part of the existing Glencore metallurgical complex in Portovesme to create the critical battery materials recycling hub.
The Portovesme metallurgical complex consists of a lead-zinc and hydrometallurgical facility. It first commenced operations in 1929.
Glencore recycling global head Kunal Sinha said: “Establishing a Hub through the re-purposing 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.
“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.”
In May 2022, Li-Cycle secured an investment of $200m from Glencore to improve its balance sheet.