TIDMGLEN
RNS Number : 6963Z
Glencore PLC
26 January 2022
Glencore plc Managem SA
Baar, Switzerland Casablanca, Morocco
26 January 2022
GLENCORE & MANAGEM SET UP PARTNERSHIP FOR MOROCCAN
PRODUCTION OF COBALT FROM RECYCLED BATTERY MATERIALS
Glencore and Managem are pleased to announce that they have
entered into a partnership to produce Cobalt from recycled cobalt,
nickel and lithium at Managem's CTT Hydrometallurgical Refinery at
Guemssa (37 km from Marrakech).
This partnership highlights Glencore and Managem's commitments
to support the electric vehicle industry in achieving its metals
recycling targets.
Glencore and CTT intend to enter into a 5-year tolling agreement
for c.1.2kt of recycled cobalt per year as well as Nickel Hydroxide
and Lithium Carbonate.
" Demand for cobalt is expected to increase significantly in the
next decade, largely driven by the green energy transition, most
actors in the supply chain seek to ensure sustainably sourced
materials and we strongly believe that recycling will play a
crucial role in addressing this demand. Managem is fully engaged in
supporting the global circular economy through cobalt, nickel and
lithium at the same time as mining cobalt with the highest CSR
standards. This partnership with Glencore represents an exciting
step up in our development in this field." declared Imad Toumi,
Chairman & CEO of Managem.
" We are proud to announce our partnership with Managem. As the
world seeks to address the challenge of climate change,
primary/recycled cobalt and other future facing commodities are set
to play a pivotal role in decarbonizing energy consumption and
delivering the electric vehicle revolution. Glencore is already a
leading producer, recycler and supplier of these commodities,
helping to underpin our ambition of achieving net zero
total emissions by 2050. " said David Brocas, Head Cobalt Trader, Glencore.
The partnership is conditional on a feasibility study to assess
the commercial viability of modifying and deploying the CTT
Refinery for recovering cobalt, nickel and lithium from black mass
- a refinery feed comprised of recycled lithium-ion batteries. The
feasibility study will focus on achieving high recoveries and a low
carbon footprint. It is expected to be completed by the end of Q1
2022.
The CTT Hydrometallurgical plant will benefit from at least 90%
green power (wind farms).
Glencore will leverage its long-established ability in sourcing
and recycling cobalt and nickel bearing products at its Canadian
(Sudbury) and Norwegian (Nikkelverk) operations to supply cobalt
containing black mass to the CTT refinery.
Managem will provide the lithium-ion batteries recycling
technology developed and tested in the pilot plant at the REMINEX
R&D Centre. This technology enables a high recovery rate of
cobalt, nickel and lithium from black mass.
Glencore will market the recycled products to its global network
of portable electronics and automotive customers, as part of its
continued commitment to support the transition to a low carbon
economy, and to realise its own ambition of net zero total
emissions by 2050.
This partnership builds on a shared commitment to a responsible
cobalt supply chain through collective industry and
multi-stakeholder platforms. Both Glencore and Managem participate
in the Responsible Minerals Initiative (RMI) Assurance Process for
cobalt. Glencore's KCC and Murrin Murrin and Managem's Bou-Azzer
and Compagnie de Tifnout Tiranimine (CTT) mines are all compliant.
Both are also long-standing members of the Cobalt Institute.
For further information please contact:
Glencore
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
www.glencore.com
Managem
Investors
Yassir Hmiddouch t: +212 529 805 386 y.hmiddouch@managemgroup.com
Media
Meriem Belmokadem t: +212 529 026 519 m.belmokadem@managemgroup.com
www.managemgroup.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 60 responsibly-sourced commodities that advance everyday
life. The Group's operations comprise around 150 mining and
metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established
and emerging regions for natural resources, Glencore's industrial
activities are supported by a global network of more than 30
marketing offices. Glencore's customers are industrial consumers,
such as those in the automotive, steel, power generation, battery
manufacturing and oil sectors. We also provide financing, logistics
and other services to producers and consumers of commodities.
Glencore's companies employ around 135,000 people, including
contractors.
Glencore is proud to be a member of the Voluntary Principles on
Security and Human Rights and the International Council on Mining
and Metals. We are an active participant in the Extractive
Industries Transparency Initiative. Our ambition is to be a net
zero total emissions company by 2050.
Managem
Managem is an industrial mining group with over 90 years of
history of operating a diversified metals portfolio. The group is
present across the complete mining business cycle from exploration
to commodity sales. The Group's wholly owned subsidiary Reminex
assures Research & Development for Drilling, Exploration and
Engineering. The Group employs 5660 people and operates in 9
African countries including Morocco. Managem is majority-held by Al
Mada, a pan African private equity fund. The name "Al Mada" is
accompanied by the tag-line "Positive impact", reflecting the
fund's commitment to promote "useful" investments. ( www.almada.ma
)
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Disclaimer
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January 26, 2022 04:17 ET (09:17 GMT)
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