Ganfeng Lithium plans to build a $1.1 Billion trading desk
Derivatives will be used to lower the risks of cross-border investments and to enhance financial stability, the Chinese producer said.
The Italian government could get involved to accelerate the permitting process for a recycling hub planned by Glencore Plc in Sardinia, but first the Swiss miner has to present a complete business plan for it, the industry minister said.
Glencore and Canada’s battery recycler Li-Cycle Holdings Corp said in May they would develop a recycling hub for electric car batteries in Italy to produce materials, including lithium carbonate, amid a global shortage of key raw materials for the fast-growing electric vehicle sector.
On Sunday, Glencore said it might look at alternative options for the hub after the regional government of Sardinia rejected a fast-track approval process for its pilot project.
“The company has not yet presented a feasibility plan,” Industry Minister Adolfo Urso said speaking to Radio24 broadcaster on Tuesday.
Once Glencore tables a feasibility and industrial plan, the government will get involved, together with Sardinian authorities, to make it happen, Urso said.
A Glencore spokesman said its Sardinian subsidiary, Portovesme srl had “submitted all requested information to date and remain committed to providing further details on its impact as appropriate.”
“We have committed to start construction of the demonstration plant as soon as we receive the necessary permits. We would welcome any clarity relating to an expedited permitting process that supports the first phase of the project at Portovesme,” the spokesman added.
When asked whether the central government could speed up the permitting process, Urso said “absolutely”.
“For strategic sites we apply a new law that derogates from many constraints,” the minister said without elaborating.
Glencore and Li-Cycle Holdings Corp said in May they wanted to set up the hub in Portovesme, in Sardinia, by re-purposing Glencore’s existing production sites on the island. The commissioning of the hub was expected to start in late 2026 to early 2027.
Sardinia’s regional government said on Friday the pilot project for the recycling hub would have to be submitted to a full environmental impact assessment.
(By Francesca Piscioneri and Francesca Landini; Editing by Bernadette Baum)
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