In the News

September 16, 2022

Glencore looking to trade lithium on soaring EV demand

Glencore Baar Head Office

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September 16, 2022

Original interview published via Reuters

LONDON, Sept 16 (Reuters) – Mining and commodity giant Glencore (GLEN.L) is looking to add lithium to the suite of metals it trades, as the raw material is in hot demand due to the rapidly growing production of electric vehicles (EVs), two sources with knowledge of the matter said.

It has, however, made a push in lithium-ion battery recycling, investing $200 million in North American company Li-Cycle Holdings Corp (LICY.N) and joined forces with startup Britishvolt to develop a new battery recycling plant in England, as governments and companies boost efforts to turn old batteries into new ones.

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