Lifezone Metals Inks JV With Glencore Subsidiary To Recycle Platinum, Palladium And Rhodium In US
Portfolio Pulse from Benzinga Newsdesk
Lifezone Metals has started a joint venture with a Glencore subsidiary to recycle platinum, palladium, and rhodium from spent automotive catalytic converters in the US. The initial phase of confirmatory piloting work is underway in Perth, Australia, utilizing the Hydromet process for the recovery of PGMs.
December 13, 2023 | 11:05 am
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Glencore, through its subsidiary, has entered a JV with Lifezone Metals for recycling PGMs in the US, which may enhance its sustainability profile and potentially open new revenue streams.
The joint venture aligns with increasing global emphasis on sustainability and responsible sourcing, which could positively influence Glencore's image and financial performance in the short term. The new recycling initiative may also attract positive investor sentiment.
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POSITIVE IMPACT
Lifezone Metals' joint venture with a Glencore subsidiary to recycle PGMs could position the company as a key player in the sustainable recovery of valuable metals, potentially benefiting its stock.
The JV with Glencore's subsidiary could provide Lifezone Metals with technological and operational advantages in the PGM recycling market. This strategic move is likely to be viewed favorably by investors, given the growing demand for sustainable practices in the industry.
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