Glencore has entered into a strategic partnership with Li-Cycle. The mining group is investing $200 million in the Canadian battery recycling company, which will also become a preferred partner of Glencore in the lithium-ion battery recycling sector.
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General Motors has signed a multi-year supply contract for cobalt with the raw materials company Glencore. Glencore will supply GM with the battery material from a mine in Australia.
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Mining group Glencore has formed a joint venture with British battery cell start-up Britishvolt to recycle batteries. The partners plan a recycling plant at Britannia Refined Metals operation, a Glencore company located in Northfleet, England.
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After an agreement in principle between Freyr and the raw materials trader Glencore at the beginning of the year, a first concrete contract now follows: It fixes the delivery of up to 1,500 tonnes of cathode material with partially recycled cobalt from Glencore’s Nikkelverk plant in Norway.
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Britishvolt has signed a long-term cobalt supply agreement with Glencore. As part of the deal, the commodities group is also investing in the budding battery cell manufacturer.
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The metals and mining companies CMOC, Eurasian Resources Group (ERG), Glencore as well as the battery material supplier Umicore are testing the blockchain solution “Re|Source” as part of a pilot project to “track responsibly produced cobalt from the mine to the electric car”.
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Norway’s battery cell start-up Freyr is about to go public on the US stock exchange, again through merging with an already listed investment firm, Alussa Energy Acquisition Corporation (think SPAC).
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Glencore is apparently going to supply Tesla’s Gigafactory in Shanghai and the planned plant in Brandenburg with cobalt from the Congo. A recent article in the Financial Times already mentions concrete quantities to be delivered to Tesla.
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Glencore and Samsung SDI have now signed a contract to supply Samsung with cobalt between 2021 to 2024. The contract covers an amount of 21,000 tonnes of cobalt from the Democratic Republic of Congo.
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SK Innovation, the South Korean battery cell manufacturer, has signed a six-year contract with Glencore for the purchase of up to 30,000 tonnes of cobalt. The deal is intended to enable the supply of batteries for three million electric cars.
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The BMW Group is changing its strategy for purchasing raw materials for electric cars. In the case of important materials such as lithium and cobalt, intermediaries are to disappear from the supply chain.
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After Andreas Wendt, the Board Member responsible for purchasing, recently announced that BMW will no longer purchase cobalt from Congo for the introduction of the fifth generation of electric vehicles from 2020/21, it is now clear that the raw material will instead come from Australia and Morocco.
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Glencore has agreed to sell approximately one third of their global cobalt production to Chinese battery recycling company GEM for the next three years. This corresponds to about 52,800 tonnes of the sought after rare earth.
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