Glencore and Britishvolt sign strategic partnership for long-term supply of cobalt

Baar, Switzerland
17 August 2021

• Glencore has also made an undisclosed investment in Britishvolt
• The deal highlights the need for strategic partnerships between raw material and battery producers on the roadmap to net-zero; with Environmental, Social and Governance a growing focus of investors
• Glencore to support Britishvolt’s recycling and recycled content ambitions 

Glencore is pleased to announce that it has entered a long-term strategic partnership for the supply of responsibly sourced cobalt with Britishvolt, the UK’s foremost investor in lithium-ion battery cell technologies and associated R&D.

The partnership represents a major milestone for Britishvolt on its quest to assist vehicle OEMs on their roadmap to electrification. By securing one of the key battery ingredients from the Glencore cobalt brands, Britishvolt is significantly derisking its operation by obtaining long-term security of supply across its business.

David Brocas, Head Cobalt Trader, Glencore, commented:

"We are delighted to be partnering with Britishvolt, a pioneer in UK electric vehicle battery technology and production. The UK has a unique legacy of automotive innovation and Britishvolt’s ambition to power the next generation of mobility will add to this rich history.

“Our commitment to support our partners in meeting their requirements for essential battery ingredients is key to underpinning long-term supply agreements. As the mobility and energy transition accelerates, so does future demand for battery metals such as cobalt, copper and nickel. Glencore is already a leading producer and supplier of these metals, helping to underpin our ambition of achieving net zero total emissions by 2050.”

Orral Nadjari, Britishvolt CEO/Founder:

“This is a huge step in the right direction for Britishvolt as we look to accelerate the transition to a low carbon society. By partnering with Glencore, we are locking in supply and derisking the project.

“At the very heart of our business is our core ESG Principles and Commitments. Cobalt is a key ingredient in electric vehicle batteries and knowing that we are being supplied with ethically produced, low-carbon cobalt is a signal to the market that we are living by our values.

“This strategic partnership aligns perfectly with our world-class ESG Principles, including applying best practice wherever possible as well as assessing labour, human rights and ethical procurement performance of our suppliers.

“We believe that to be a true pioneer in the battery cell manufacturing industry business must lead by example and ensure that its supply chains are as ethical, low carbon and sustainable as possible.”

Further information only Britishvolt can be found here: www.britishvolt.com 

For further information please contact:

Investors

Martin Fewings    
t: +41 41 709 28 80    
m: +41 79 737 56 42    
martin.fewings@glencore.com

Media

Charles Watenphul    
t: +41 41 709 24 62    
m: +41 79 904 33 20    
charles.watenphul@glencore.com

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.

With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by a global network of more than 30 marketing offices. Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative. Our ambition is to be a net zero total emissions company by 2050.

Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies.  Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.