Glencore: The latest figures, news and market research on Glencore

Turnover: EUR ()

Country: Switzerland

International Mining Group

First company to be affected by New Caledonian nickel crisis 12/02/2024

- Glencore holds a 49% stake in Koniambo Nickel SAS (KNS).
- The Swiss giant has been mining New Caledonian nickel for over 10 years without making a profit.
- The metallurgical plant will be mothballed for at least 6 months.
- Indonesia is a major competitor, flooding the market with its low-cost production.
- In February, KNS was offered exceptional aid of around 200 million euros, including 60 million in direct energy subsidies.
- The plant employs 1,300 people, who will continue to receive their salaries for 6 months, according to Glencore.
- Nickel is essential for the manufacture of electric car batteries.
- The other two industrial plants, Société Le Nickel (SLN) and Prony Resources, are also in financial difficulty
- Due to increased production in Indonesia and falling prices, Australian nickel mines have had to cease operations.

Glencore to create Europe's largest lithium battery recycling center 16/05/2023

Glencore plans to set up a European lithium battery recycling center in partnership with Li-Cycle.
The center will be located in Portovesme, Italy.
The recycling plant will process components such as lithium, nickel and cobalt.
By 2030, more than 350 million electric cars could be on the road worldwide, compared with 16.5 million in 2021.
The center will have the capacity to process between 50,000 and 70,000 tonnes of pre-treated waste per year.

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