Recycling to Boost Nickel Production
Canadian battery recycler Li-Cycle is taking its show on the road. Well, that’s the idea anyway. The company is looking to expand into Asia – targeting countries such as South Korea, Japan, and Vietnam as part of plan to mirror its North American growth. In an interview with Bloomberg, Li-Cycle co-founder Tim Johnston said, “We’re focused on expanding outside China, especially in the broader Asia-Pacific region.” He added that doing business within China is becoming more complicated, and many Chinese firms are eyeing opportunities beyond their borders. That’s where Li-Cycle sees itself fitting in—offering support and infrastructure outside China, where the need for reliable, sustainable battery material is only getting stronger.
The Bloomberg article was very pro the recycling of batteries and as I concept, I would agree. With the cost of acquiring the materials, manufacturing and shipping the batteries, it make sense to recycle. For manufacturers, a robust battery recycling industry would help offset supply issues and reduce costs. According to BloombergNEF, around 62,000 metric tons of end-of-life EV and storage batteries were scrapped globally last year. Fast forward to 2035, and that figure jumps to 4 million tons. On top of that, nearly 26 million EVs are expected to be sold each year by 2030, leaving junkyards with nearly 1.7 million tons of used batteries to deal with annually.
However, battery recycling is not for the faint of heart. It’s difficult on a number of levels and, while there is growth in the sector, my view is that it will be many years until battery recycling can come close to taking on a meaningful role in metal supply.
Anthony Milewski
Chairman, Nickel 28 Capital
