In a move toward making battery production more sustainable, Swiss mining conglomerate Glencore (LSE:GLEN,OTC Pink:GLCNF) has announced a US$75 million investment in Li-Cycle Holdings (NYSE:LICY). The investment underscores Glencore’s commitment to promoting circularity within the battery materials space and further solidifies its partnership with Li-Cycle, a lithium-ion battery resource recovery company. Glencore made an initial US$200 million investment in Li-Cycle in June 2022, designating the company as one of its preferred recycling partners and laying the foundation for a long-term partnership. This week’s agreement amends the convertible note that Glencore purchased from Li-Cycle at that time. Under the new deal, Glencore will purchase a senior secured convertible note from Li-Cycle with an aggregate principal amount of US$75 million. It is structured to mature on the fifth anniversary of the closing date, and is convertible into common shares of Li-Cycle at an initial conversion price of US$0.53 per share. The liquidity…