Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Glencore's documents on planned EV battery recycling hub not enough for Sardinia

Published 19/10/2023, 16:32
© Reuters. FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017.  REUTERS/Arnd Wiegmann/File Photo
GLEN
-

By Francesca Landini and Angelo Amante

MILAN (Reuters) - Papers filed by Glencore (LON:GLEN) Plc to support its plans to develop an EV battery recycling hub on the Italian island of Sardinia are not sufficient to assess the plant's impact on the environment, a document issued by the regional government showed.

The risks stemming from the raw materials to be treated at the plant need to be addressed, the document said.

The Swiss miner said in May that it wanted to develop a recycling hub for electric vehicle (EV) batteries with Canada's Li-Cycle and filed a request for approval for a pilot plant to be based on Sardinia.

Sardinia's government last month rejected the request for a fast-track approval process, prompting Glencore to say the two groups might look at alternative locations outside Italy.

In a document relating to the decision to reject a fast-track process, Sardinia's councillor for environmental protection said the region needed to investigate further several aspects of the project through an extensive environmental impact analysis.

"It is not possible to rule out negative and significant impacts on the environment linked to the project under review," Sardinia's councillor said citing a preliminary assessment by the region on the project.

Under Italian law, a complete review of the project's environmental impact can take up to six months but terms may potentially be extended as the administration and the companies continue to work on the authorisations needed.

"Fast-track procedures are only allowed on matters deemed as urgent, otherwise the regular path would be followed," said Aurelio Angelini, an independent expert in administrative procedures concerning environmental impacts.

Glencore declined to comment on the issue.

Li-Cycle and Glencore Plc said in May the recycling hub would process the so-called "black mass" to produce battery materials including lithium.

© Reuters. FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017.  REUTERS/Arnd Wiegmann/File Photo

Black mass is the shredded material which comes from used batteries, which can include lithium, cobalt, and nickel. These metals can then be extracted and used to make new batteries.

"The presence, in liquid or gaseous emissions, of lithium and other metals or chemicals contained in the black mass ... requires an in-depth investigations of the effects," the Sardinian government's document said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.