Umicore retains recycling as key activity

Belgium-based metals and recycling company Umicore is hinting at further investments in recycling as part of its “Umicore 2030 – RISE” strategic plan, which it is fully unveiling this week at its Capital Markets Day.

Referring to itself as “a frontrunner in battery recycling” in part because of its pyro-hydro technology, Umicore says its Battery Recycling Solutions business “will be scaled up significantly in Europe, while an expansion in North America is being analyzed.”

Umicore adds, “The strategic plan assumes an investment of approximately $525 million in a large-scale battery recycling greenfield plant with a name-plate capacity of 150,000 metric tons, deploying the newest evolution in Umicore’s pyro-hydro flowsheet.

“Upon commissioning of the plant in 2026, Umicore is expected to be the first company in Europe covering the full cathode active materials (CAM) value chain at large scale, thereby strongly contributing to the European Union’s objective to establish a sustainable and circular electric vehicle (EV) battery ecosystem in Europe," the company continues.

Regarding its Precious Metals Refining unit, which operates a smelter in Belgium fed in part with scrap materials, the firm says its “leadership in sustainable and complex recycling is seen to continue to create sustainable value with EBITDA [earnings before interest, taxes, depreciation and amortization] margins above 35 percent and to continue to generate substantial cash flows, at normalized platinum group metals prices.

The company says it sees electronics and EV recycling aspects of its business as a critical part of its 2030 plan, calling it a “strategy driven by powerful mega-trends, in particular the rapid acceleration towards cleaner mobility, which is anticipated to result in a tripling of Umicore’s addressable mobility market by 2030.”

Umicore CEO Mathias Miedreich says, “Our Umicore 2030 – RISE strategy builds on our proven ability to embrace megatrends, our strong market positions, technology leadership and organizational excellence and will allow us to accelerate sustainable and profitable growth and to be a net beneficiary of the changing world, particularly of the rapidly accelerating mobility transformation.”

He adds, “In line with our vision for sustainable growth, we continue to build on our clear purpose to produce ‘materials for a better life’ through businesses that will help shape a more healthy planet and society while delivering sustainable value to our stakeholders.”