Page 12 from: Recycling International Jan/Feb 2025
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STEEL MAJOR SIDENOR BUYS EPLUS TO
SECURE METALS SUPPLY
Spanish steel company Sidenor Group has acquired industri-
al scrap recycler Eplus.
Eplus processes mostly ferrous and non-ferrous metals as
well as paper, cardboard and plastics in Barcelona.
Sidenor, which produces specialty steel grades, says the move
is part of a strategy to reduce carbon emissions and improve
sustainability. The deal was concluded in December.
It was Sidenor’s second acquisition in 2024. Last January, it took
over Miguel Martín based in Madrid. It also bought Aguilar
Metal Recycling in 2022.
Sidenor has production facilities in the Basque Country,
Cantabria and Catalonia, as well as commercial offices in sever-
al European countries. The steel player says it is now well-posi-
tioned to access a substantial metal supply.
GLENCORE AND START-UP PARTNER TO BOOST COP-
PER RECYCLING
Canadian cleantech firm Cyclic
Materials has struck a multi-
year deal with Swiss mining
giant Glencore to supply recy-
cled copper.
Cyclic Materials extracts copper
from electronic scrap, including
cars and wind turbines, and
refines it for reuse. The company,
which was founded in 2021, recently won US$ 53 million (EUR 48 mil-
lion) to expand its global operations.
According to the recycler, around 10 000 tonnes will go to Glencore’s
Horne Smelter and Canadian Copper Refinery. The facilities will trans-
form it into copper cathode.
The refined copper will be used in the manufacture of new electric cars
and renewable energy systems. The first shipments of recycled copper
are expected to start in late 2025.
‘Cyclic Materials is filling a critical gap in the market,’ says Kunal Sinha,
Glencore’s global head of recycling. ‘Its focus on rare earth recovery is
exactly what we need to build a circular supply chain for critical materi-
als.’
Cyclic Materials ceo Ahmad Ghahreman adds: ‘This is a significant
milestone in establishing key partners to purchase our recycled materi-
als and close the loop for all the critical materials we will produce.’
BACKLASH AS ARCELORMITTAL SHELVES LOW-
CARBON STEEL PLANS
ArcelorMittal is delaying final investments on various ‘green
steel’ projects in Europe. ‘European policy, energy and mar-
ket environments have not moved in a favourable direction,’
the steelmaker says.
ArcelorMittal insists it still intends to replace several of its
European blast furnaces with ‘hydrogen ready’ direct reduced
iron (DRI) electric arc furnace (EAF) facilities. The company is
now looking at a ‘longer timeline’ to realise these upgrades.
‘We remain absolutely committed to decarbonisation,’ says
ArcelorMittal ceo Aditya Mittal. ‘It is the right thing to do, both
for the company and the planet.’
He explains the scale of the challenge requires further policy
initiatives to unlock increased investment. ‘We would have
liked to move faster but the reality is the regulatory environ-
ment required to support the business case for investments is
not yet in place.’
The steelmaker believes policy decisions taken in 2025 are like-
ly to provide clarity towards its decarbonisation efforts.
ArcelorMittal insists target of net zero by 2050 can still be
achieved.
Climate campaign organisation SteelWatch has slammed the
steel giant for ‘backtracking’ on a positive PR campaign after
being awarded ‘billions’ in state funding.
‘Feasibility has got harder and current market conditions are
tough but these are not good enough reasons to stall on invest-
ment in a future-fit industry,’ says Caroline Ashley, executive
director at SteelWatch. ‘Short-term crisis thinking might see
delaying change as prudent but, when transformation takes
years and assets last decades, it’s not. It’s a risk.’
To Steelwatch, the announced delays seem motivated by ‘politi-
cal games’. The announcement is ‘carefully timed’ for the
incoming EU Commission, Ashley claims. ‘A clear play to lever-
age more subsidies and softer conditionality.’
She observes that a new plant in Gijon, Spain, was promised
years ago with expected operation in 2025. The final invest-
ment decision is ‘long past due’. Meanwhile, the state aid con-
tract for the steelmaker’s site in Dunkirk, France, was filed in
early 2022.
‘None of today’s market or political shifts this year are responsi-
ble for those past three years of delay,’ Ashley argues.
CASH BOOST FOR UK E-WASTE PIONEERS
UK innovator DEScycle is planning a pre-commercial pilot plant
to recycle metals from electronic waste.
The company is developing the technology of deep eutectic sol-
vents (DES), new mixtures whose melting point is lower than that
of its constituents. DEScycle has successfully closed a £10.2 million
(EUR 12.2 million) Series A round led by BGF, one of the largest
and most experienced growth capital investors in the UK and
Ireland with Berlin based Vorwerk Ventures as co-lead.
The cash is funding the construction and operation of a pre-com-
mercial pilot plant at Wilton International on Teesside in the north-
east of England. The plant will demonstrate the company’s DES-
based technology in a real environment, as well as providing data
for a commercial operation.
Future plans include the opening of an e-waste recycling facility in
nearby Gateshead
with the support from
DEScycle’s joint ven-
ture partner, GAP
Group, one of the
UK’s largest e-waste
recyclers. The com-
mercial plant will be
able to recycle 5 000
tonnes of e-waste per
year, producing cop-
per and palladium
and gold.
FURTHER DECLINE IN SHIP RECYCLING
The number of merchant ships recycled in 2024 fell to a
near-record 20-year low, according to Lloyd’s List.
The journal reports that 324 merchant ships totalling 4.6m
tonnes were recycled, the lowest level since 2005 and more
than 30% down on the gross tonnage recycled in 2023.
Only 17 crude oil tankers and product tankers were pro-
cessed. The general cargo segment provided 30% of the
ships recycled.
Lloyd’s says that strong growth in cargo volumes meant vin-
tage tonnage remained in the trading fleet. Additionally,
lower investment in new ships during 2010s has resulted in
second-hand values rising since 2021, with values of vin-
tage vessels usually in excess of scrap sale prices.
Ship recyclers are said to be offering relatively high prices,
partially due to a shortage of candidates coming on the
market. It also notes that cheap imports from China have
reduced the demand for recycled metals from ships in the
Indian subcontinent.
On the other hand, with some 1 300 tankers and 1 250 bulk
carriers older than 20 years still in service, and a further 680
container ships built before 2005, recycling is expected to
pick up this year.
Go to page 16 to read our update on ship recycling.
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