FREYR signs 'ethical cobalt' deal with Glencore

Norwegian battery cell developer FREYR has agreed to purchase 3,700 tonnes of “ethically sourced” cobalt metal cut cathodes from Anglo-Swiss miner Glencore.
FREYR signs 'ethical cobalt' deal with Glencore FREYR signs 'ethical cobalt' deal with Glencore FREYR signs 'ethical cobalt' deal with Glencore FREYR signs 'ethical cobalt' deal with Glencore FREYR signs 'ethical cobalt' deal with Glencore

FREYR and Glencore signed an MOU in December

The cobalt cathodes, which will be produced at Glencore's Nikkleverk facility in Norway, will be a core component in FREYR's lithium-ion battery (LIB) cells to be produced at planned facilities in the town of Mo i Rana.

FREYR and Glencore signed an agreement in December that included collaboration on standards and traceability schemes for artisanal cobalt mining.  

The MOU also covered joint research and development (R&D) projects that will "adjust the quality, shape or form" of Glencore's raw materials, and cooperation on blockchain technology.

"We look forward to helping FREYR achieve its goal of producing batteries with the world's lowest lifecycle carbon footprint and contributing to our ambition of net-zero total emissions by 2050," said Nico Paraskevas, head of copper and cobalt marketing, Glencore.

Glencore is an investor in a new company to be called FREYR Battery that will be created through a "business combination" between FREYR and Alussa Energy Acquisition Corp. The combined company is expected to start trading on the NYSE in the second quarter of 2021.