Glencore announced the establishment of a strategic partnership with Li-Cycle Holdings. Glencore will subscribe for convertible debt in Li-Cycle and Li-Cycle will become a preferred partner for Glencore in the lithium-ion battery recycling sector.
The partnership will entail Glencore procuring feedstock for Li-Cycle Spoke facilities and black mass for Li-Cycle’s Hub facilities; offtake of black mass from Li-Cycle’s Spoke facilities; offtake of battery usable end products produced by Li-Cycle; offtake of by-products from Li-Cycle’s facilities; and supplying Li-Cycle’s sulfuric acid requirements for its Hub facilities.
The partnership with Li-Cycle will support…
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