Laurent Cohen of Solvay US said: “Today, the input provided by recyclers is just a drop in the ocean of demand for battery metals,” he told a delegation gathered at the recent International Conference on Battery Recycling (ICBR).
Citing data from Cirba Solutions, Cohen said 95% of demand will be driven by battery-powered products, especially in the area of e-mobility. Globally mined lithium demand is projected to triple he by 2030 to about 2 360 000 tonnes. The projected supply is only 1 285 000 tonnes per year, a deficit of well over 80% by 2030.
The forecasts for nickel and cobalt remain relatively unchanged, with demand for them (2 975 000 tonnes for nickel and 157 000 tonnes for cobalt) expected to double by 2030. Shortages of these metals will exceed 25% and 30% respectively. Battery manufacturing is believed to account for 20% to 50% of total demand.
freedom
Scrap is projected to account for 210,000 tons per year of lithium and nickel and 20,000 tons of cobalt in the current scenario. “But there is still time to act,” Cohen told the Salzburg delegation, confident that by 2040 recyclers could capture a significant market share.
Eager to see this become a reality “sooner or later”, Solvay has partnered with automaker Renault and waste manager Veolia for a research and development project known as “Liberty.”
“Rather than starting from scratch, we are building expertise and using the latest technology,” Cohen reports. It is based on Veolia’s proven black mass pyrometallurgical process. This includes sorting and leaching steps to remove copper, manganese and iron, resulting in a 99.9% pure lithium, nickel and cobalt crystalline product.
Cohen said this has resulted in a “very attractive price” for LME, with an estimated US$9,459 recovery per tonne of spent battery metal. “Please note, these numbers are based on minimum efficiency and can be much higher.”
big profit
Cohen quotes Tesla CEO Elon Musk as saying recently that “lithium margins are effectively computer margins.” He explains that battery-grade materials simply aren’t enough.
“That creates the numismatic printing industry. This can also happen to cobalt.
“Necessity is the mother of invention, right? Circularity is the mother of optimization.
Initiatives like Liberty aim to help address volatility in the metals market while reducing reliance on raw materials and proving the added value of closed-loop recycling.
“Collaboration can take our sector to the next level,” Cohen believes. “Compared to standalone operations, our recycling partners enjoy more flexibility and opportunities to optimize profits and scale.”
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