Mitsubishi Materials, a Japanese metals company, will embark on the commercial recycling of rare earth metals, including cobalt and lithium, taken from used lithium-ion batteries of electric vehicles (EVs), starting in fiscal 2025.
Nikkei Asia reports that the company aims to increase its processing capacity to 6,000 metric tons per year by fiscal 2030 with the help of its recycling partner, Envipro Holdings. The two firms will work together to develop a technology that will efficiently recover rare earth metals from the batteries.
