carl
Technology Minerals, a battery recycling firm, has announced plans to cut jobs across its workforce as part of a cost reduction programme aimed at increasing efficiency and productivity. The cuts will impact both Technology Minerals and its subsidiary, Recyclus Group, which operates in the Black Country, including a lithium-ion (Li-ion) battery recycling facility in Wolverhampton.
Recyclus Group, in addition to its Wolverhampton facility, manages a lead-acid battery recycling plant in Tipton. The Wolverhampton facility received an Environment Agency permit in 2023, allowing it to store up to 100 tonnes of Li-ion batteries daily and process up to 22,000 tonnes annually. The Tipton plant, the first of five planned in the UK, has the capacity to recycle 15,000 tonnes of lead-acid materials in its first full year of operations, with a goal to reach 80,000 tonnes across the remaining plants in the coming years.
As part of the restructuring, Philip Beard has stepped down as an Independent Non-Executive Director and Chairman of the Remuneration Committee, with Technology Minerals set to announce a new chairperson soon. This change comes as the company continues to review the composition of its board and committees.
Robin Brundle, Chairman of Technology Minerals, highlighted that the cost reduction measures are part of a broader effort to boost productivity throughout the business. He also expressed gratitude to Beard for his strategic contributions to the company.
The cost-cutting strategy also includes reducing head office expenses and reviewing services as Technology Minerals focuses on its key assets, including its 48.35% interest in Recyclus Group.
4o
