Mining News
Glencore inks supply agreement with ACE for recycled lead, lithium, nickel and cobalt
(Kitco News) - On Monday, Glencore announced it will enter a long-term supply agreement with ACE Green Recycling (ACE), a global recycling technology and supply chain platform, for recycled lead as well as key battery metal based end products from recycled lithium-ion batteries.
"This strategic partnership will help create a circular supply chain on a global scale for these high-demand materials, while reducing their environmental footprint," the company said in its press release.
The 15-year agreement allows for Glencore to purchase up to 100 percent of ACE's products from four of its planned lead-acid and lithium-ion battery recycling parks being built in the United States, India and Thailand.
The parks are expected to be complete by 2024. Once operational, ACE estimates these recycling parks will cumulatively produce 1.6 million tons of recycled metals containing lead, lithium, nickel and cobalt.
"Our partnership with ACE furthers our objective of creating a leading, global circularity platform for battery metals. These recycling parks will not only provide a unique domestic, but also regional solution for furthering circularity in batteries – both high and low voltage. The partnership will also support our ambition to become a net zero total emissions (scope 1,2,3) company by 2050," said Kunal Sinha, head of recycling at Glencore.
Importantly, Glencore noted that ACE has developed a portfolio of proprietary technologies to recycle batteries with zero Scope 1 emissions and extract their critical materials with minimal environmental footprint.
"The global deal between ACE and Glencore will lead to expanded and improved battery circularity in both developed and emerging markets," it added.
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities.
ACE Green Recycling is an innovative recycling platform providing sustainable, end-of-life solutions for batteries. The company is working with players across the battery ecosystem to create localized circular solutions to ensure critical battery materials remain within the countries generating battery wastes.
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