He declined to estimate the facility’s potential cost, but said the facility would process batteries from roughly 140,000 electric vehicles each year.
“There’s a big opportunity for us to play a bigger role in the circular economy,” Price told the conference, a gathering of policymakers, executives, investors and politicians to discuss critical minerals supply for the energy transition.
Mining companies are increasingly eyeing the recycling space as a potential growth area, especially as consumers and regulators increasingly advocate for the circular economy, in which materials and minerals are recycled and used again in a continuous manufacturing loop.
For example, Albemarle, the world’s largest mining company, has announced plans to incorporate recycling into its planned North American processing hub. And metals trading and mining giant Glencore is a major investor in Ontario battery recycler Li-Cycle Holdings.
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