Australia’s Ionic Rare Earths is seeking investors and offtake partners for its Makuutu heavy rare earth project in Uganda, as well as sources of feedstock for its magnet recycling plant in Northern Ireland, Tim Harrison, the company's chief executive officer, told Fastmarkets in an interview.

Black mass payables dropped during the week to Wednesday November 29 with insufficient demand for the shredded, sorted lithium-ion battery packs in key buying markets restricting trade.

Black mass payables have weakened in the key South Korean import market over the past week, with battery recyclers in the country cutting back on production amid a continued downtrend in metal prices, sources told Fastmarkets on Friday November 24

Battery recyclers Huayou Recycling, of China, and Tozero, of Germany, have announced an agreement in which they will partner on the supply and processing of battery scrap in Europe, Fastmarkets has learned.

Plans for a major battery metals recycling hub run by Glencore and Li-Cycle in Italy are likely to go ahead despite recent pushback from local authorities, sources told Fastmarkets this week

A slight rise in offers for black mass payables were heard in South Korea this week, but a wide bid-offer gap persisted in the market, according to sources

Holidays in key Asian black mass trading centers such as China and South Korea have limited purchasing over the last week but suppliers are holding their offers at firm levels, sources told Fastmarkets

There is a lot of additional activity in the United States when it comes to electric vehicle (EV) production and this will be supportive of black mass recycling, critical material production and active battery manufacturing that is needed to support the EV industry

The future of Glencore and Li-Cycle’s major Italian hub for the recycling of key battery metals could be under threat after a request to fast-track the project was rejected by the regional government of Sardinia, southern Italy, according to a Glencore spokesperson

The relatively high costs for black mass material meant that some recyclers in China and Southeast Asia were turning away from purchases of such powders in favor of other options