Umicore to Invest EUR450 Million to Expand Flowsheet at Belgian Site

05:13 AM EST, 11/12/2026 (MT Newswires) -- Umicore (UMI.BR) will invest 450 million euros to expand the flowsheet at its Precious Metals Refining site in Hoboken, Belgium, according to a Thursday release. The expansion, which involves a new hydrometallurgical flowsheet and is subject to required regulatory approvals, is intended to reinforce the materials technology company's long-term competitive position in recycling. It will also enable the refining and recycling of cobalt, making it the 18th metal on the flowsheet. Umicore will deploy the investment between 2027 and 2030, which is the expected commissioning year. It expects a payback period of six years, which the company said would be "significantly shorter" if current metal prices prevail.