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Glencore clinches green aluminium deals

Glencore CEO Gary Nagle.

Glencore CEO Gary Nagle.

9th September 2022

By: Martin Creamer

Creamer Media Editor

     

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JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore has entered into ten-year alumina supply and aluminium offtake agreements with the global green aluminium subsidiary of Press Metal Aluminium Holdings, a Malaysian stock exchange-listed company.

The transactions are seen as important steps in the strategy of the London- and Johannesburg-listed company, headed by Gary Nagle, to increase low-carbon aluminium supply to the global market, and also underpin Press Metal’s ambition to expand as a primary low-carbon aluminium producer.

“We’re committed to supporting the transition to a low-carbon economy,” Glencore alumina and aluminium head Robin Scheiner stated in a release to Mining Weekly.

As customers look to reducing their carbon footprint, demand for low-carbon aluminium – which has grown substantially over the last few years – is expected to increase, added Scheiner.

Continuous production of low-carbon aluminium is a prime business strategy, said Press Metal CEO Tan Sri Dato’ Paul Koon.

Both organisations share climate commitments towards net zero by 2050 and amicable business dealings between the two companies over many years have established a deep mutual understanding, Koon added.

OTHER GREEN DEALS

In May, Glencore announced a strategic partnership with New York-listed lithium-ion battery recycler Li-Cycle, as part of its strategy of combining primary and recycled battery raw materials to produce battery-grade end products.

In terms of the agreement, Glencore will procure feedstock for the Toronto-based company’s facilities and supply it with its sulphuric acid requirements, while Li-Cycle will supply it with battery useable end-products and by-products.

In April, Glencore and General Motors (GM) announced a sourcing agreement to supply GM with cobalt for electric vehicle batteries from its Murrin Murrin operation in Australia.

In February, Glencore entered a battery recycling joint venture (JV) with Britishvolt, a UK battery cell technologies and research and development investor. The JV is developing an ecosystem for battery recycling in the UK, which will be based at the Britannia Refined Metals (BRM) operation in Northfleet, a Glencore company.

In the same month, Glencore initiated a strategic global marketing relationship with United States Strategic Metals, formerly Missouri Cobalt, involving a long-term offtake agreement for 100% of the US company’s products, which include cobalt and nickel sulphates, lithium products and copper cathode.

Edited by Creamer Media Reporter

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