1. Homepage
  2. Equities
  3. Korea, republic of
  4. Korea Stock Exchange
  5. LG Chem, Ltd.
  6. News
  7. Summary
    A051910   KR7051910008


End-of-day quote Korea Stock Exchange  -  2022-06-23
543000.00 KRW   -1.45%
06/20LG Chem to Construct Hydrogen Plant in South Korea's Daesan
06/19South Korea's LG Chem plans to build hydrogen plant to cut carbon emissions
06/17South Korea-based LG Chem Spends $375 Million on Foreign Battery Separator Film Venture with Japan's Toray
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Glencore investing $200 million in battery recycler Li-Cycle

05/05/2022 | 06:11am EDT
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar

(Reuters) - Miner and commodity trader Glencore Plc said on Thursday it is investing $200 million in battery recycler Li-Cycle Holdings Corp as it looks to expand supply of battery metals for the electric vehicle (EV) industry.

Recycling is seen as a large potential new source of EV minerals, and governments and companies around the world are boosting efforts to turn old batteries into new ones. U.S. President Joe Biden's administration, for example, said this week it would set aside $3 billion in part to finance EV battery recycling.

Switzerland-based Glencore's investment will come in the form of a $200 million note that is convertible to equity at $9.95 per share, roughly 38% higher than Li-Cycle's stock closing price on Wednesday.

Glencore will gain a seat on Toronto-based Li-Cycle's board and has agreed to a standstill agreement, which prohibits unsolicited takeover offers.

The deal is set to close by July. LG Chem Ltd and privately held Koch Industries Inc are also investors in Li-Cycle.

The deal announced on Thursday is the latest between a mining giant and recycler. In March, French mining group Eramet said it could develop jointly with Suez a recycling facility in France for EV batteries by 2024.

Glencore will supply Li-Cycle black mass - shredded batteries that can be processed to extract metals such as cobalt and nickel - as well as manufacturing scrap, giving Li-Cycle access to more feedstock to recycle.

Roughly 5% to 10% of the EV battery manufacturing process produces manufacturing waste. Li-Cycle is building several recycling facilities around North America. The Glencore investment will be used by Li-Cycle for those projects and other corporate purposes.

The Glencore-Li-Cycle deal is part of a long-term agreement, though the companies did not specify the timeline.

Glencore has also agreed to supply Li-Cycle with sulfuric acid and will buy certain metals that are produced during Li-Cycle's recycling process.

(Reporting by Ernest Scheyder; Editing by Muralikumar Anantharaman)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ERAMET 1.98% 100.2 Real-time Quote.39.26%
GLENCORE PLC 0.78% 446.25 Delayed Quote.19.02%
LG CHEM, LTD. -1.45% 543000 End-of-day quote.-11.71%
LG CORP. 1.19% 76700 End-of-day quote.-5.19%
All news about LG CHEM, LTD.
06/20LG Chem to Construct Hydrogen Plant in South Korea's Daesan
06/19South Korea's LG Chem plans to build hydrogen plant to cut carbon emissions
06/17South Korea-based LG Chem Spends $375 Million on Foreign Battery Separator Film Venture..
06/16Shenzhen Senior Technology Signs $110 Million Battery Separator Supply Deal With Norway..
06/13LG CHEM : Positive Transformation of Disposable Products Piled Up During COVID-19
06/08S.Korean shares end flat as investors await China, U.S. economic data
06/03Stellantis-LG Energy Solution Battery Joint Venture Named NextStar Energy, CEO Appointe..
06/02South Korean Stocks Close Lower on Recession Concerns; LG Chem Loses 3%
06/02LG Chem Kemco Joint Venture to Build Battery Precursor Plant in Ulsan
05/31Huayou Cobalt to Buy 49% of LG Chem’s Battery Cathode Unit For $41 Million
More news
Analyst Recommendations on LG CHEM, LTD.
More recommendations
Sales 2022 49 402 B 38,3 B 38,3 B
Net income 2022 2 674 B 2,07 B 2,07 B
Net Debt 2022 6 506 B 5,04 B 5,04 B
P/E ratio 2022 15,2x
Yield 2022 2,02%
Capitalization 40 099 B 31 068 M 31 068 M
EV / Sales 2022 0,94x
EV / Sales 2023 0,86x
Nbr of Employees -
Free-Float 59,6%
Duration : Period :
LG Chem, Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LG CHEM, LTD.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 28
Last Close Price 543 000,00 KRW
Average target price 792 928,57 KRW
Spread / Average Target 46,0%
EPS Revisions
Managers and Directors
Hak Cheol Shin Chairman & Chief Executive Officer
Okdong Son President
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
Young-Ho An Independent Director
Sector and Competitors