Toronto, Ontario — Glencore is eager to restart construction on a Rochester, New York metal extraction facility initially developed by Li-Cycle, a Canadian company acquired by the Swiss firm earlier this year.
With the release of about US$7 million in liens filed by contractors after Li-Cycle halted work in 2023, Glencore has cleared a major barrier to restarting the stalled project. The liens were released after Glencore assumed ownership of the Rochester Hub and agreed to pay the outstanding claims, signaling to contractors that the project would resume under new management.
The Rochester Hub was once envisioned as Li-Cycle’s flagship battery recycling plant, capable of processing used lithium-ion batteries to recover nickel, cobalt and lithium. The company promised hundreds of jobs and initially estimated construction costs at US$500 million, but delays and overruns pushed the expected price tag toward US$1 billion. By October 2023, construction stopped and contractors filed liens, including a claim of nearly US$5.1 million from Pike Construction Services.
Li-Cycle entered bankruptcy proceedings under heavy debt, and Glencore, one of its largest lenders, acquired the Rochester Hub and other assets through a credit bid in August. Those assets included intellectual property and facilities in the United States, Canada and Europe. Glencore transferred ownership of the Rochester Hub to a new subsidiary, GBR HubCo LLC, and assumed certain liabilities, positioning itself to revive a project once touted as central to America’s domestic critical mineral supply chain.
The company quickly sought approval from the Monroe County Industrial Development Agency to take over tax abatements and lease agreements originally granted to Li-Cycle. It has also been working to secure a US$475 million Department of Energy loan that was meant to support construction and operations. At the same time, Glencore retained technical expertise from Li-Cycle, with the company’s former chief executive and chief technology officer moving into senior roles within Glencore’s recycling division.
