The Belgian metallurgical concern Umicore plans to expand its recycling activities and to invest €100m in its Hoboken facility. The build-out would raise the plant's capacity by 40 per cent to around 500,000 tonnes per year, the company announced on Thursday. Although the project is still subject to final approval by the concern's board, Umicore reports it is already in contact with the competent authorities with regard to the necessary permits.
According to Umicore, the investments would primarily cover technical improvements to the smelter and blast furnace, which the concern believes will increase its capacity to recycle complex residue streams from the non-ferrous metals industry.
For the third quarter of the current business year, Umicore reported that revenues from its recycling activities had fallen by around 20 per cent compared with the prior-year quarter. The concern viewed lower metal prices as the primary reason for the decline. However, in some segments, processed volumes had also decreased.