Finland's Fortum signs JV for battery recycling cluster
Finnish state-owned electricity producer Fortum has teamed up with chemical producer, BASF, and Russian miner Nornickel to form a battery recycling cluster in Finland.
A letter of intent signed by all three companies announces a plan to develop a recycling operation next to Nornickel's Harjavalta nickel refinery in western Finland. The plant will recycle old lithium-ion batteries, extracting battery metals to go back into the supply chain.
"By recycling valuable metals in lithium-ion batteries, we reduce the environmental impact of electric car batteries by complementing the supply of cobalt, nickel and other critical metals from primary sources," Tero Hollander, Fortum's head of business development, said. "We are very proud that Fortum is now able to increase the recovery rate of valuable materials in lithium-ion batteries from 50pc to more than 80pc."
Finland is hoping to become a hub for the European battery industry, with established nickel mines and refineries in the country. There are also lithium hydroxide projects being developed in central Finland by Kelibar mining and one of the only cobalt refining operations in Europe at Kokkola, owned by Umicore.
Recycling battery materials will serve a dual function in the battery supply chain. "Development of recycling solutions will not only support Nornickel's strategy of further lowering its CO2 footprint and improving sustainability, but it is also essential to enable the industry to meet the growing demand of critical metals in the electric vehicle sector," said Joni Hautojarvi, managing director of Nornickel Harjavalalta.
By Thomas Kavanagh
source: Argus Media
Related News
Top News
Gold price tumbles on reports of de-escalating Middle East tensions
Bolivia says China’s CBC to invest $1 billion in lithium plants
Iran Alloy Steel Company intends to purchase 5740 MT of UHP graphite electrode through public tender
Rusal to cut aluminum output by 6%
McEwen Copper seeks $2.5bn for Los Azules project in Argentina
RANKED: Top 20 automakers by EV battery metal spending
Diamond miners face turning point amid weak prices — report
Four Barrick Gold employees detained in Mali
Gold price set for worst month in over a year on Trump-driven selloff
Norway forced to pause Arctic seabed mining plans
Canada’s oil and gas drilling forecast to hit decade high in 2025 – report
Mining sector activity in October was highest in a year, S&P data shows
Iran Alloy Steel Company intends to purchase 5740 MT of UHP graphite electrode through public tender
Botswana Diamonds gets environmental nod for Thorny River
Contango ORE stock plummets as costs rise at Alaska gold mine
Top copper miner Chile gets back to pre-pandemic output levels
Gold price set for worst month in over a year on Trump-driven selloff
Lithium Argentina picks Switzerland as another China-backed junior flees Canada
Possible tariffs worry Canada uranium miners as they boost output to meet US demand
Iran Alloy Steel Company intends to purchase 5740 MT of UHP graphite electrode through public tender
Mining sector activity in October was highest in a year, S&P data shows
Gold price tumbles on reports of de-escalating Middle East tensions
Canada’s oil and gas drilling forecast to hit decade high in 2025 – report
Botswana Diamonds gets environmental nod for Thorny River
Contango ORE stock plummets as costs rise at Alaska gold mine
Top copper miner Chile gets back to pre-pandemic output levels
Gold price set for worst month in over a year on Trump-driven selloff
Lithium Argentina picks Switzerland as another China-backed junior flees Canada
