· A strategic partnership agreement between the Moroccan mining group, Managem, and the Anglo-Swiss global commodity trading company, Glencore, has been signed to produce cobalt from recycled battery materials.
· The deal was announced in a press release by the two groups on Wednesday January 26 .
A strategic partnership agreement between the Moroccan mining group, Managem, and the Anglo-Swiss global commodity trading company, Glencore, has been signed to produce cobalt from recycled battery materials. The deal was announced in a press release by the two groups on Wednesday January 26 .
Under the partnership agreement, recycled cobalt, nickel and lithium will be produced at Managem’s CTT Hydrometallurgical Refinery at Guemssa, near Marrakech. The agreement will support the electric vehicle industry in achieving its metals recycling targets. Glencore and CTT (Compagnie de Tifnout Tighanimine) propose a 5-year tolling agreement for 1.200 tons (c.1.2kt) of recycled cobalt per year as well as Nickel Hydroxide and Lithium Carbonate.
The demand for cobalt in the next decade is bound to go up largely driven by the green energy transition. Recycling can play a significant role in meeting this demand. Managem is fully committed in supporting the global economy through cobalt, nickel and lithium as well as mining cobalt with the highest CSR standards, declared Imad Toumi, Chairman & CEO of Managem. David Brocas, Head Cobalt Trader, Glencore, noted that, primary/recycled cobalt and other commodities are set to play a pivotal role in decarbonizing energy consumption and delivering the electric vehicle revolution. Glencore he said is a leading producer, recycler and supplier of these commodities. Glencore has already established sourcing and recycling cobalt and nickel facility at its Canadian (Sudbury) and Norwegian (Nikkelverk) operations and supplies cobalt containing black mass to the CTT refinery.
The press release explained that the partnership is subject to a feasibility study to assess the commercial viability of modifying and deploying the CTT Refinery for recovering cobalt, nickel and lithium from black mass . The study is expected to be completed by the end of Q1 2022.
