Recycled lead and battery end products to be supplied to Glencore
Glencore is to sign a long-term agreement with recycling technology firm ACE Green Recycling, whereby the latter will supply recycled lead and key metal-based battery end products from recycled lithium-ion batteries.
Under the 15-year agreement, Glencore will receive up to 100% of ACE’s products from four of its proposed lead-acid and lithium-ion battery recycling parks in the US, India and Thailand.
Who
Mining giant Glencore is posting record profits while paying billions in fines for past corrupt behaviour. Glencore's chairman has admitted "unacceptable practices" have taken place but that the firm today is "not the company it was".
At the same time, Glencore also aims to become a net-zero total emissions company by 2050. As part of this plan, it has partnered with ACE to recycle battery materials.
Kunal Sinha, Head of Recycling at Glencore: “Our partnership with ACE furthers our objective of creating a leading global circular platform for battery metals. These recycling parks will not only provide a unique domestic but also a regional solution for furthering circularity in batteries – both high and low voltage.
Why it matters
ACE Green Recycling co-founder and CEO Nishchay Chadha said: “We are delighted to partner with Glencore and together contribute towards making global electrification sustainable.
“To safeguard a greener future, we need to create sustainable and localized circular supply chain solutions to ensure these critical battery materials are available indefinitely.”
ACE plans to commission its first commercial lithium-ion battery recycling facility in Ghaziabad, India, this month followed by a second Indian facility in Mundra in Q4 2023.
