Future research focus of the joint venture - 18650 lithium ion battery cell recycling

White Plains, New York-based Metallica Commodities Corp. LLC (MCC) and South Korea's SungEel HiTech Co. Ltd. announced a joint venture that will target the recycling of lithium-ion batteries (LIBs) in the North American market.

The joint venture, SungEel MCC USA LLC (SMA), will leverage MCC's global network of agents, traders, suppliers, electronic recyclers and customers and SungEel's LIB recycling process, which it describes as proprietary.

SMA said it will initially recycle more than 3,000 tons of spent lithium-ion batteries per year and will employ about 100 people. Cobalt, nickel, lithium and copper will be recovered from the recycled batteries through what the company calls a "highly efficient and environmentally friendly process." The recovered metals can be used to make new lithium-ion batteries or for other industrial applications.

According to SMA, consumption of the two materials has exceeded supply in recent years, and the United States lacks local production of both materials. Cobalt and lithium are sometimes defined as "exotic" metals found in LIBs. More than 50% of the world's cobalt reserves are located in the Democratic Republic of Congo, and more than 50% of lithium reserves are located in South America's "Lithium Triangle" region, which spans the borders between Argentina, Bolivia and Chile.

"We are excited to work with SungEel to bring environmentally friendly LIB recycling to the North American market," said MCC COO Danish Mir. "We believe SMA will revolutionize the e-waste recycling and energy markets, create high-paying jobs, and put the Americas at the forefront of the renewable energy movement."

"SungEel HiTech Co., Ltd. has an excellent opportunity to challenge the North American recycling market with MCC, which has established a wide network, based on internationally recognized leading recycling technology," said Yi Myung, CEO of SungEel HiTech Co. "SMA will expand into North and Central America to become a leader in the LIB recycling market and will expand its environmentally friendly recycling process based on solid technology."

Founded in 2000, SungEel is one of the few significant LIB recyclers in the world. The company recycles more than 8,000 tons of discarded LIBs and scrap materials annually. The company said that in response to the expected growth in LIBs from the growth of the electronic automotive industry, its current production capacity is being expanded fivefold by 2021.

MCC describes itself as a group of more than 115 people focused on the commercial recovery of non-ferrous concentrates, residues and by-products generated by the mining, metallurgy, recycling and processing industries. The company has operations or offices in the United States, Canada, France, Guyana, Peru, Tanzania and the United Kingdom.

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