Morocco’s Managem, Glencore to partner in cobalt project

0
81

RABAT, Jan 26 (Reuters) – Moroccan mining company Managem said on Wednesday it agreed with miner and commodity trader Glencore (GLEN.L) to produce Cobalt at a plant near Marrakech.

The project is conditional on a feasibility study, to be completed by the end of the first quarter, to assess the commercial viability of the existing plant and its carbon footprint, the company said in a statement.

The cobalt will be produced from recycled cobalt, nickel and lithium with demand seen coming from the expansion of renewable energy and electric vehicles, it said.

Reporting by Ahmed Eljechtimi; editing by Angus McDowall and Jason Neely