Glencore International AG, a wholly owned subsidiary of Glencore plc, a leading producer, recycler, and marketer of nickel and cobalt for the production of electric vehicle batteries, and Li-Cycle Holdings Corp., an industry leader in lithium-ion battery resource recovery and a leading lithium-ion battery recycler in North America, signed a Letter of Intent to jointly study the feasibility of, and later, develop a Hub facility in Portovesme, Italy. A Li-Cycle Hub is a hydrometallurgical facility that processes black mass from lithium-ion batteries. The Portovesme Hub would produce critical battery materials, including nickel, cobalt and lithium from recycled battery content.
The Portovesme Hub will leverage Li-Cycle’s hydrometallurgical technology and is expected to be the largest producer of recycled battery-grade products in Europe. Located in Sardinia, Italy, the Portovesme metallurgical complex consists of a lead-zinc and hydrometallurgical facility which first started operations in 1929. The Portovesme site has a range of substantial existing infrastructure, including access to a port, utilities, processing equipment from the hydrometallurgical plant and an experienced workforce.
Glencore and Li-Cycle will jointly commence a definitive feasibility study (DFS) for this project within 60 days from this announcement. The DFS is expected to be completed by mid-2024. Subject to a final investment decision, the project will proceed to construction with commissioning of the Portovesme Hub expected to commence in late 2026 to early 2027.