Glencore invests in UK Battery Maker Britishvolt

The mining giant Glencore invests in UK Battery Maker Britishvolt which plans to build UK’s first large-scale battery factory to help accelerate the rollout of electric vehicles.

This partnership represents a major accomplishment for Britishvolt on its pursuit to assist vehicle OEMs on their direction to electrification. By securing one of the key battery ingredients from the Glencore cobalt brands, Britishvolt is significantly not endangering its operation by obtaining long-term security of supply across its business.

Glencore is one of the world’s biggest producers of cobalt, a byproduct of its copper mining in the Democratic Republic of Congo (DRC) and its nickel mining in Australia and Canada. It is also a key material used in manufacturing the batteries found in electric vehicles.

The battery factory of Britishvolt is currently under construction on the site of a decommissioned coal-fired power plant in England where it will initially employ 1,000 people, rising to 3,000 once the gigafactory is at full capacity.

The Swiss company is a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. It is also an active participant in the Extractive Industries Transparency Initiative. The company’s ambition is to be a net zero total emissions company by 2050.

The Head of Cobalt Trader at Glencore, David Brocas, said:

“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.”