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Visualisation",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":567,"content":568},"doc",[569,576,581,586,591,596,603,618,623,641,646,659,664,669,674],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Glencore has established supply and offtake agreements with Li-Cycle and is set to invest $200 million in the battery recycler as it continues to make inroads into lithium ion recycling. ","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"The deal will see Glencore supply Li-Cycle with battery recycling feedstock as well as establish offtake agreements for battery materials. As part of the deal, Glencore will purchase $200 million in Li-Cycle’s convertible debt which could see the FTSE 100 miner take a 10% stake in the company. ",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":575},"Glencore has been expanding its battery recycling business as part of its strategy to achieve net-zero emissions by 2050. Glencore is already the leading recycler of electronic waste in North America where it recycles battery materials at its Sudbury smelter in Canada. ",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"“This is a key step in establishing a strong long-term foundation for the vertical integration of the battery materials supply chain,” said Kunal Sinha, Glencore’s head of recycling. “Together, we will be expanding the spectrum of battery material supply solutions to a broader global customer base, particularly in Europe and North America,” he added.",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":575},"Glencore agreed an offtake agreement with Electra Battery Materials last month for recycling nickel and cobalt from its Battery Material Park, Toronto, from 2023 onwards.",{"type":597,"attrs":598,"content":600},"heading",{"level":599,"textAlign":49},4,[601],{"text":602,"type":575},"Expanding its European footprint",{"type":570,"attrs":604,"content":605},{"textAlign":49},[606,608,616],{"text":607,"type":575},"In February, ",{"text":609,"type":575,"marks":610},"the company announced plans to develop a 10,000 tonnes a year battery recycling facility in the UK",[611],{"type":612,"attrs":613},"link",{"href":614,"uuid":49,"anchor":49,"target":49,"linktype":615},"https://source.benchmarkminerals.com/article/glencore-britishvolt-to-build-uk-battery-recycling-plant","url",{"text":617,"type":575}," with battery developer Britishvolt.",{"type":570,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":575},"Glencore already has lithium ion recycling capacity on the continent at its Nikkelverk refinery in Norway. ",{"type":570,"attrs":624,"content":625},{"textAlign":49},[626,628,634,639],{"text":627,"type":575},"Europe is beginning to attract more investment in its lithium ion recycling infrastructure. ",{"text":629,"type":575,"marks":630},"Last",[631],{"type":612,"attrs":632},{"href":633,"uuid":49,"anchor":49,"target":49,"linktype":615},"https://source.benchmarkminerals.com/article/chinas-gem-co-eyes-move-into-europes-battery-recycling-market",{"text":635,"type":575,"marks":636}," month, GEM Co, China’s leading battery recycler, told Benchmark",[637],{"type":612,"attrs":638},{"href":633,"uuid":49,"anchor":49,"target":49,"linktype":615},{"text":640,"type":575}," that it intends to invest in Europe to support the growing need for recycled battery raw materials.",{"type":570,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":575},"New EU battery regulations and the growing demand for supply chain localisation on the continent are expected to incentivise European battery recycling capacity growth.",{"type":570,"attrs":647,"content":648},{"textAlign":49},[649,651,657],{"text":650,"type":575},"The ",{"text":652,"type":575,"marks":653},"European Union’s proposed battery directive",[654],{"type":612,"attrs":655},{"href":656,"uuid":49,"anchor":49,"target":49,"linktype":615},"https://source.benchmarkminerals.com/article/what-does-europe-need-to-meet-eu-battery-recycling-targets",{"text":658,"type":575}," has said that at least 12% of the cobalt used in battery production should be from recycled sources, and 4% of the nickel and lithium by 2030. This is set to increase to 20%, 12%, and 10% in 2035.",{"type":597,"attrs":660,"content":661},{"level":599,"textAlign":49},[662],{"text":663,"type":575},"Meeting the raw material shortfall",{"type":570,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":575},"By the end of the decade, most battery raw materials face structural shortfalls due to rising battery demand and an inadequate supply response. Benchmark forecasts that in 2030, the lithium market faces a shortfall of 150,000 tonnes, with nickel’s deficit over 200,000 tonnes and cobalt’s almost 40,000 tonnes. ",{"type":570,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":575},"“With mined supply unable to keep up with battery demand there is a long term opportunity for recyclers to help plug the gap,” said Benchmark analyst Sarah Colbourn.",{"type":570,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":575},"In the short term battery recyclers will be relying on process scrap to scale up production, explained Colbourn. “As the supply of end-of-life batteries ramps up in the 2030s, recycling will start to become an increasingly significant source of supply,” said Colbourn. ","Glencore has established supply and offtake agreements with Li-Cycle and is set to invest $200 million in the battery recycler as it continues to make inroads into lithium ion recycling. The deal will see Glencore supply Li-Cycle with battery recycling feedstock as well as establish offtake agreements for battery materials. As part of the deal, […]",[681],{"slug":558,"name":559,"content":682},{"job_title":561,"image":683,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"d3aae439-d87b-4e1f-8282-356b744ea0e0\", \"id\": \"\"}-->","article",[687,690,692,694,697,699,701,704],{"slug":688,"name":689},"batteries","Batteries",{"slug":691,"name":298},"cathode",{"slug":693,"name":115},"cobalt",{"slug":695,"name":696},"critical-minerals","Critical Minerals",{"slug":698,"name":8},"lithium",{"slug":700,"name":150},"nickel",{"slug":702,"name":703},"recycling","Recycling",{"slug":705,"name":706},"sustainability","Sustainability","private",{"id":49,"alt":709,"name":709,"focus":709,"title":709,"source":709,"filename":710,"copyright":709,"fieldtype":711,"meta_data":712,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/adc068d260/bm-glencore-offices-e1568042098678.jpg","asset",{"alt":709,"title":709,"source":709,"copyright":709},"May 06, 2022","6th May 2022",[],[],1781280287465]