French mining group Eramet has suspended plans to build an EV battery recycling plant in France. It is the second such plan to fall as the electric vehicle market slows.
In its third quarter earnings statement released on 24 October, Eramet said: “Due to the lack of ramp-up in Europe of battery factories and their components (precursors and materials for cathodes), there are currently major uncertainties about the supply of raw materials to the plant, and about recycling opportunities for the metallic salts.
“The required conditions for pursuing a hydro-metallurgical battery recycling plant project in France are therefore not met, and the Group has decided to suspend the project.”
Company officials reportedly said if the plant went ahead they would have to export recovered minerals to Asia, which would not make sense economically.
In September, mining group Orano said it and car manufacturer Stellantis would not finalise an intended joint venture for recycling end-of-life electric vehicle batteries and scrap. They entered into a non-binding memorandum of understanding in October 2023.
