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Swiss commodities trader and miner Glencore has partnered with Moroccan mining company Managem to produce cobalt
from recycled battery materials at a plant near Marrakech.
The project is a feasibility study to assess the commercial viability of the existing plant and its carbon footprint
, which will be completed by the end of the first quarter.
If favorable, Glencore and Managem's CTT hydrometallurgical refinery aim to strike a five-year agreement to produce approximately 1,200 tonnes of recycled cobalt per year, as well as nickel hydroxide and lithium
carbonate.
Imad Toumi, Chairman and CEO of Managem, said in a statement: "Demand for cobalt is expected to increase significantly over the next decade, driven mainly by the green energy transition, with most players in the supply chain seeking to ensure sustainable sourcing
of materials.
”
Notably, the CTT hydrometallurgical refinery is 90% powered
by wind energy.
"As the world seeks to address the challenge of climate change, recycling cobalt and other future-oriented commodities will play a key role in decarbonizing energy consumption and enabling the electric vehicle revolution," added
David Brocas, Chief Cobalt Trader at Glencore.
Glencore supplies the CTT plant with ferrous substances, cobalt, lithium and nickel-containing feedstocks, which are produced
from recycled battery electrodes from its Sudbury, Canada and Nikkor Walker, Norway.
Managem will contribute its metal recycling technology to the partnership and put Glencore accountable for recycling products
to customers.
The global push for a green future is spurring demand for battery metals such as cobalt, lithium and nickel, while the pandemic has exacerbated supply constraints
.
Cobalt prices surged to their highest level
since 2018 last year.
The Democratic Republic of the Congo produces more than 65 percent of the world's cobalt, and Glencore, which operates two cobalt mines in the African country, is the largest supplier of battery metals, a byproduct
of copper and nickel mining.
Roskill analysts predict a shortage
of cobalt demand to 270,000 tonnes by 2030 from 141,000 tonnes in 2020.
London-based commodity research firm CRU predicts that cobalt demand for electric vehicles will exceed 120,000 tonnes by 2025, accounting for nearly 45% of the total, while cobalt demand in 2020 will be closer to 39,000 tonnes, or 27%.
Swiss commodities trader and miner Glencore has partnered with Moroccan mining company Managem to produce cobalt
from recycled battery materials at a plant near Marrakech.
The project is a feasibility study to assess the commercial viability of the existing plant and its carbon footprint
, which will be completed by the end of the first quarter.
If favorable, Glencore and Managem's CTT hydrometallurgical refinery aim to strike a five-year agreement to produce approximately 1,200 tonnes of recycled cobalt per year, as well as nickel hydroxide and lithium
carbonate.
Imad Toumi, Chairman and CEO of Managem, said in a statement: "Demand for cobalt is expected to increase significantly over the next decade, driven mainly by the green energy transition, with most players in the supply chain seeking to ensure sustainable sourcing
of materials.
”
Notably, the CTT hydrometallurgical refinery is 90% powered
by wind energy.
"As the world seeks to address the challenge of climate change, recycling cobalt and other future-oriented commodities will play a key role in decarbonizing energy consumption and enabling the electric vehicle revolution," added
David Brocas, Chief Cobalt Trader at Glencore.
Glencore supplies the CTT plant with ferrous substances, cobalt, lithium and nickel-containing feedstocks, which are produced
from recycled battery electrodes from its Sudbury, Canada and Nikkor Walker, Norway.
Managem will contribute its metal recycling technology to the partnership and put Glencore accountable for recycling products
to customers.
The global push for a green future is spurring demand for battery metals such as cobalt, lithium and nickel, while the pandemic has exacerbated supply constraints
.
Cobalt prices surged to their highest level
since 2018 last year.
The Democratic Republic of the Congo produces more than 65 percent of the world's cobalt, and Glencore, which operates two cobalt mines in the African country, is the largest supplier of battery metals, a byproduct
of copper and nickel mining.
Roskill analysts predict a shortage
of cobalt demand to 270,000 tonnes by 2030 from 141,000 tonnes in 2020.
London-based commodity research firm CRU predicts that cobalt demand for electric vehicles will exceed 120,000 tonnes by 2025, accounting for nearly 45% of the total, while cobalt demand in 2020 will be closer to 39,000 tonnes, or 27%.
