Li-Cycle (LICY) 20-F30 Mar 232022 FY Annual report (foreign)Financial data

Company Profile

Cover

Cover	14 Months Ended
Cover	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	false
Document Transition Report	true
Document Period Start Date	Nov. 01, 2022
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Shell Company Report	false
Entity File Number	001-40733
Registrant name	Li-Cycle Holdings Corp
Entity Incorporation, State or Country Code	A6
Entity Address, Address Line One	207 Queen’s Quay West
Entity Address, Address Line Two	Suite 590
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5J 1A7
Entity Address, Country	CA
Entity emerging growth company	false
Entity common stock shares outstanding	176,122,015
Entity Well-known Seasoned Issuer	No
Current reporting status	Yes
Entity interactive data current	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
ICFR Auditor Attestation Flag	false
Document Accounting Standard	International Financial Reporting Standards
Transition Report	true
Entity Shell Company	false
Amendment flag	false
Central index key	0001828811
Document fiscal year focus	2022
Document fiscal period focus	FY
Auditor Firm ID	85
Common shares, without par value
Document Information [Line Items]
Title of 12(b) Security	Common shares, without par value
Trading Symbol	LICY
Security Exchange Name	NYSE
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	207 Queen’s Quay West
Entity Address, Address Line Two	Suite 590
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5J 1A7
Entity Address, Country	CA
Contact Personnel Name	Carl DeLuca
City Area Code	877
Local Phone Number	542-9253
Contact Personnel Email Address	carl.deluca@li-cycle.com

Audit Information

Audit Information	14 Months Ended
Audit Information	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Firm ID	85
Auditor Name	KPMG LLP
Auditor Location	Vaughan, Ontario

Consolidated statements of loss

Consolidated statements of loss and comprehensive loss - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Dec. 31, 2022	Oct. 31, 2021
Revenue
Product sales	$ 5.8	$ 2.7
Recycling services	0.1	0.1
Revenue	5.9	2.8
Expenses
Employee salaries and benefits	9	4.8
Share-based compensation	2.1	1.1
General and administrative expense	3.8	1.7
Professional fees expense	3.3	1.9
Raw materials and supplies	2.5	1.3
Depreciation	2.4	1.2
Plant facilities	1.2	0.3
Sales and marketing expense	0.3	0.3
Freight and shipping	0.2	0.1
Research and development	0.5	0.3
Change in finished goods inventory	0	(0.5)
Operating expenses	25.3	12.5
Loss from operations	(19.4)	(9.7)
Other income (expense)
Interest income	3.5	0.1
Interest expense and other costs	(3.8)	(2.5)
Gains (losses) on financial instruments	21.4	16
Other income (expense)	21.1	13.6
Net income before taxes	1.7	3.9
Income tax	0	0
Interest income on short-term investments	1.7	3.9
Non-controlling interest	1.7	3.9
Non-controlling interest	0	0
Net income and comprehensive income	$ 1.7	$ 3.9
Loss per common share - basic (in dollars per share)	$ 0.01	$ 0.02
Loss per common share - diluted (in dollars per share)	$ 0.01	$ 0.02

Consolidated statements of fina

Consolidated statements of financial position - USD ($) $ in Millions	Dec. 31, 2022	Oct. 31, 2022
Current assets
Cash and cash equivalents	$ 517.9	$ 578.3
Accounts receivable	4.3	1.5
Other receivables	10	7.8
Prepayment and deposits	95.2	85.8
Inventories	8.3	7.5
Current assets	635.7	680.9
Non-current assets
Plant and equipment	210.4	147.7
Right-of-use assets	50.8	50.1
Other assets	4.2	3.6
Non-current assets	265.4	201.4
Total assets	901.1	882.3
Current liabilities
Accounts payable and accrued liabilities	75.9	47.5
Lease liabilities	5.6	5.2
Current liabilities	81.5	52.7
Non-current liabilities
Lease liabilities	48.3	46.6
Convertible debt	272.9	288.5
Restoration provisions	0.4	0.4
Non-current liabilities	321.6	335.5
Total liabilities	403.1	388.2
Equity
Share capital	772.4	771.8
Other reserves	18.7	17.1
Accumulated deficit	(293)	(294.7)
Accumulated other comprehensive loss	(0.3)	(0.3)
Equity attributable to the Shareholders of Li-Cycle Holdings Corp.	497.8	493.9
Non-controlling interest	0.2	0.2
Total equity	498	494.1
Total liabilities and equity	$ 901.1	$ 882.3

Consolidated statements of chan

Consolidated statements of changes in equity shares in Millions, $ in Millions	USD ($)	Restricted share units USD ($)	Issued capital USD ($) shares	Issued capital Restricted share units USD ($) shares	Additional paid-in capital [member] USD ($)	Additional paid-in capital [member] Restricted share units USD ($)	Retained earnings [member] USD ($)	Accumulated other comprehensive income [member] USD ($)	Equity attributable to owners of parent [member] USD ($)	Equity attributable to owners of parent [member] Restricted share units USD ($)	Non-controlling interests [member] USD ($)
Shareholders' equity, beginning balance (in shares) at Oct. 31, 2021 \| shares			163.3
Shareholders' equity, beginning balance at Oct. 31, 2021	$ 433.7		$ 672.1		$ 3		$ (241.1)	$ (0.3)	$ 433.7		$ 0
Changes in equity [abstract]
Stock option expense	6.6				6.6				6.6
Share issuance (in shares) \| shares			5.3
Share issuance	49.7		$ 49.7						49.7
Exercise of stock options (in shares) \| shares			1.4
Exercise of stock options	0		$ 0.4		(0.4)
Exercise of warrants (in shares) \| shares			5.7
Exercise of warrants	46		$ 46		0				46
Settlement of RSUs (in shares) \| shares				0.3
Settlement of RSUs				$ 3.6		$ (3.6)
Restricted share units settled										$ 0
RSUs expense (in shares) \| shares				0
RSUs expense		$ 11.5		$ 0		11.5				11.5
Non-controlling interest in subsidiary	0.3										0.3
Net income and comprehensive income	(53.7)						(53.6)	0	(53.6)		(0.1)
Shareholders' equity, ending balance (in shares) at Oct. 31, 2022 \| shares			176
Shareholders' equity, ending balance at Oct. 31, 2022	494.1		$ 771.8		17.1		(294.7)	(0.3)	493.9		0.2
Changes in equity [abstract]
Stock option expense	0.6				0.6				0.6
Exercise of stock options (in shares) \| shares			0.1
Exercise of stock options	0		$ 0.1		(0.1)
Settlement of RSUs				$ 0.5		(0.5)
RSUs expense		$ 1.6				$ 1.6				$ 1.6
Net income and comprehensive income	1.7						1.7		1.7		0
Shareholders' equity, ending balance (in shares) at Dec. 31, 2022 \| shares			176.1
Shareholders' equity, ending balance at Dec. 31, 2022	$ 498		$ 772.4		$ 18.7		$ (293)	$ (0.3)	$ 497.8		$ 0.2

Consolidated statements of cash

Consolidated statements of cash flows - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Dec. 31, 2022	Oct. 31, 2021
Operating activities
Net income for the period	$ 1.7	$ 3.9
Items not affecting cash
Share-based compensation	2.1	1.1
Depreciation	2.4	1.2
Foreign exchange (gain) loss on translation	0.8	(0.3)
Gains on financial instruments	(21.4)	(16)
Interest expense	3	2.5
Interest paid	(0.7)	(0.3)
Interest received	2.7	0.1
Interest income	(3.5)	(0.1)
Cash flows from (used in) operations before changes in working capital	(12.9)	(7.9)
Changes in non-cash working capital items
Accounts receivable	(2.8)	(1.2)
Other receivables	(1.4)	0.1
Prepayments and deposits	(0.3)	3.1
Inventories	(0.8)	(0.9)
Accounts payable and accrued liabilities	(20.2)	(7.5)
Cash used by operating activities	(38.4)	(14.3)
Investing activities
Purchases of plant and equipment	(11.8)	(2.2)
Prepaid equipment deposits	(9.7)	(16)
Cash used by investing activities	(21.5)	(18.2)
Financing activities
Repayment of lease principal	(0.5)	(0.6)
Cash provided by financing activities	(0.5)	(0.6)
Net change in cash and cash equivalents	(60.4)	(33.1)
Cash and cash equivalents, beginning of period	578.3	596.9
Cash and cash equivalents, end of period	517.9	563.8
Non-cash investing activities
Purchase of plant and equipment in payables and accruals	$ 48.6	$ 2.3

Nature of operations and busine

Nature of operations and business combination	14 Months Ended
Nature of operations and business combination	Dec. 31, 2022
Nature Of Operations [Abstract]
Nature of operations and business combination	Company overview Li-Cycle’s core business model is to build, own and operate recycling plants tailored to regional needs. Li-Cycle’s Spoke & Hub Technologies™ provide an environmentally-friendly resource recovery solution that addresses the growing global lithium-ion battery recycling challenges supporting the global transition toward electrification. Li-Cycle Holdings Corp. and its subsidiaries, collectively ("Li-Cycle" or the "Company") started their business as Li-Cycle Corp. Li-Cycle Corp. was incorporated in Ontario, Canada under the Business Corporations Act (Ontario) on November 18, 2016. The Company's registered address is 207 Queens Quay West, Suite 590, Toronto, Ontario. On March 28, 2019, Li-Cycle Corp. incorporated a wholly-owned subsidiary, Li-Cycle Inc., under the General Corporation Law of the State of Delaware. This subsidiary operates the Company’s U.S. Spoke facilities. On September 2, 2020, Li-Cycle Corp. incorporated a wholly-owned subsidiary, Li-Cycle North America Hub, Inc., under the General Corporation Law of the State of Delaware. This subsidiary is developing the Company’s first commercial Hub, in Rochester, New York. On August 10, 2021, in accordance with the plan of arrangement to reorganize Li-Cycle Corp., the Company finalized a business combination (the "Business Combination") with Peridot Acquisition Corp., and the combined company was renamed Li-Cycle Holdings Corp. On closing, the common shares of Li-Cycle Holdings Corp. were listed on the New York Stock Exchange and commenced trading under the symbol “NYSE:LICY”.

Basis of preparation

Basis of preparation	14 Months Ended
Basis of preparation	Dec. 31, 2022
List Of Accounting Policies [Abstract]
Basis of preparation	Basis of preparation 2.1 Statement of compliance On December 21, 2022, the Company announced a change in its financial year end from October 31 to December 31. The change is being made to better align Li-Cycle’s financial reporting calendar with peer group companies. As a result, the Company has prepared these condensed consolidated financial statements for the two-month period from November 1, 2022 through December 31, 2022. The Company’s next financial year will cover the period from January 1, 2023 to December 31, 2023. These financial statements do not include all the notes required in annual financial statements. These condensed consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") under International Accounting Standard (IAS) 34 - Interim Financial Reporting. Except as described below, these condensed consolidated financial statements were prepared using the same basis of presentation, accounting policies and methods of computation as set forth in Note 2, Significant accounting policies in the Company's consolidated financial statements for the year ended October 31, 2022. These condensed consolidated financial statements were approved and authorized for issue by the Board of Directors on March 30, 2023. 2.2 Basis of measurement These condensed consolidated financial statements have been prepared on a going concern basis, using historical cost basis, except for financial assets and liabilities that have been measured at amortized cost or fair value through profit and loss. 2.3 Basis of consolidation These condensed consolidated financial statements include the financial information of the Company and its subsidiaries. The Company’s subsidiaries are entities controlled by the Company. Control exists when the Company has power over an investee, when the Company is exposed, or has rights, to variable returns from the investee and when the Company has the ability to affect those returns through its power over the investee. The subsidiaries are included in the condensed consolidated financial statements of the Company from the effective date of incorporation up to the effective date of disposition or loss of control. In assessing control, potential voting rights that are presently exercisable or convertible is taken into account. The accounting policies of subsidiaries are aligned with policies adopted by the Company. The Company’s principal subsidiaries and their geographic location as at December 31, 2022 are set forth in the table below: Company Location Ownership interest Li-Cycle Corp. Ontario, Canada 100% Li-Cycle Americas Corp. Ontario, Canada 100% Li-Cycle U.S. Holdings Inc. Delaware, U.S. 100% Li-Cycle Inc. Delaware, U.S. 100% Li-Cycle North America Hub, Inc. Delaware, U.S. 100% Li-Cycle Europe AG Switzerland 100% Li-Cycle APAC PTE. LTD. Singapore 100% Li-Cycle Germany GmbH Germany 100% Li-Cycle Norway AS Norway 67% Intercompany transactions, balances and unrealized gains/losses on transactions between the Company and its subsidiaries have been eliminated. 2.4 Presentation currency These condensed consolidated financial statements are presented in U.S. dollars, which is the Company's functional currency. All figures are presented in millions of U.S. dollars unless otherwise specified. 2.5 Comparative figures Certain of the comparative figures have been reclassified to conform to the financial statement presentation adopted in the current year. 2.6 Foreign currencies The reporting and functional currency of the Company is the U.S. dollar. Transactions in currencies other than the U.S. dollar are recorded at the rates of exchange prevailing on the dates of transactions. At the end of each reporting period, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at that date. 2.7 Recently adopted IFRS Standards In September 2020, the IASB issued an amendment to IFRS 3 - Business Combinations to refer to the 2018 Conceptual Framework instead of the 1989 Conceptual Framework. The amendment also includes a requirement that, for obligations within the scope of IAS 37- Provisions, Contingent Liabilities and Contingent Assets ("IAS 37"), an acquirer applies IAS 37 to determine whether at the acquisition date a present obligation exists as a result of past events. For a levy that would be within the scope of IFRIC 21 Levies, the acquirer applies IFRIC 21 to determine whether the obligating event that gives rise to a liability to pay the levy has occurred by the acquisition date. Finally, the amendment added an explicit statement that an acquirer does not recognize contingent assets acquired in a business combination. The amendment is effective for business combinations for which the date of acquisition is on or after the beginning of the first annual period beginning on or after 1 January 2022. The application of this amendment did not have an impact on the Company's condensed consolidated financial statements. In September 2020, the IASB issued an amendment to IAS 37 - Provisions, Contingent Liabilities and Contingent Assets. The amendment specifies that the cost of fulfilling a contract consists of both the incremental costs of fulfilling that contract and an allocation of other costs that relate directly to fulfilling contracts. The amendment applies to contracts for which the entity has not yet fulfilled all its obligations at the beginning of the annual reporting period in which the entity first applies the amendments. Comparatives are not restated. Instead, the entity shall recognize the cumulative effect of initially applying the amendment as an adjustment to the opening balance of retained earnings or other component of equity, as appropriate, at the date of initial application. The amendment is effective for annual periods beginning on or after 1 January 2022. The application of this amendment did not have an impact on the Company's condensed consolidated financial statements. 2.8 New and revised IFRS Standards issued but not yet effective At the date of authorization of these financial statements, the Company has not applied the following new and revised IFRS Standards that have been issued but are not yet effective. New/Revised Standard Description IFRS 17 (including the December 2021 amendments to IFRS 17) Insurance Contracts Amendments to IAS 1 Disclosure of Accounting Policies and Classifying liabilities as current or non-current Amendments to IAS 8 Definition of Accounting Estimates Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction Amendments to IFRS 16 Lease liability in a sale & leaseback Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The adoption of the IFRS Standards listed above are not expected to have a material impact on the financial statements of the Company in future periods. The following amendment will not have a material impact on the numbers disclosed on the financial statements, but would impact and change wording in certain disclosures. Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgments - Disclosure of Accounting Policies These amendments change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term ‘significant accounting policies’ with ‘material accounting policy information’. Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements. The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions is immaterial and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial. However, not all accounting policy information relating to material transactions, other events or conditions is itself material. The amendments to IAS 1 and IFRS practice statements 2 are effective for annual periods beginning on or after 1 January 2023, with earlier application permitted and are applied prospectively. The Company is assessing the potential impact of these amendments.

Revenue - product sales and rec

Revenue - product sales and recycling services	14 Months Ended
Revenue - product sales and recycling services	Dec. 31, 2022
Product sales revenue [Abstract]
Revenue - product sales and recycling services	Revenue – product sales and recycling services For the two months ended December 31, 2022 2021 Product revenue recognized in the period $ 3.5 $ 1.5 Fair value pricing adjustments 2.3 1.2 Product sales 5.8 2.7 Recycling services 0.1 0.1 Revenue $ 5.9 $ 2.8 For the two months ended December 31, 2022 2021 Product revenue recognized in the period $ 3.5 $ 1.5 Recycling services 0.1 0.1 Total revenue before FV pricing adjustment $ 3.6 $ 1.6 Product revenue from black mass and black mass equivalents ("Black Mass & Equivalents" or "BM&E") and shredded metal, and the related trade accounts receivable, are measured at initial recognition using provisional prices for the constituent metals on initial recognition. Any unsettled sales at the end of each reporting period are remeasured using the market prices of the constituent metals at the period end. Changes in fair value are recognized as an adjustment to product revenue, and the related accounts receivable, and can result in gains and losses when the applicable metal prices increase or decrease from the date of initial recognition. Refer to Note 12 for the impact of movements in the cobalt and nickel prices.

Other income (expense)

Other income (expense)	14 Months Ended
Other income (expense)	Dec. 31, 2022
Financial Instruments [Abstract]
Other income (expense)	Other income (expense) The following table summarizes the Company's other income (expense): For the two months ended December 31, 2022 2021 Interest income on short-term investments $ 3.5 $ 0.1 Interest income 3.5 0.1 Interest expense and accretion on convertible debt (2.3) (2.2) Interest expense on leases (0.7) (0.3) Foreign exchange losses (0.8) — Interest expense and other costs (3.8) (2.5) Fair value gain (loss) on embedded derivatives (Note 11) 21.4 (9.1) Fair value gain on warrants — 25.1 Gains (losses) on financial instruments 21.4 16.0 Total $ 21.1 $ 13.6

Accounts receivable

Accounts receivable	14 Months Ended
Accounts receivable	Dec. 31, 2022
Trade and other current receivables [abstract]
Accounts receivable	Accounts receivable As at December 31, 2022 October 31, 2022 Trade receivables $ 4.3 $ 1.5 Total accounts receivable 4.3 1.5 Non-trade receivables $ 3.5 $ 2.1 Sales taxes receivable 4.1 3.7 Other 2.4 2.0 Total other receivables $ 10.0 $ 7.8 Other receivables consist principally of interest receivable. Aging Summary As at December 31, 2022 October 31, 2022 Current $ 3.3 $ 0.3 1-30 days 0.5 0.6 31-60 days — 0.3 61-90 days 0.3 0.1 91 days and over 0.2 0.2 Total accounts receivable $ 4.3 $ 1.5 For product revenue, the Company estimates the amount of consideration to which it expects to be entitled under provisional pricing arrangements, which is based on the initial assay results and market prices of certain constituent metals on the date control is transferred to the customer. For the two months ended December 31, 2022, the fair value gain arising from changes in estimates was $2.3 million (2021: fair value gain of $1.2 million), which is included in the respective accounts receivable balances. Refer to Note 3 for additional details on product revenue and fair value adjustments recognized in the period. The Company assesses the need for allowances related to credit loss for service related receivables based on its past experience, the credit ratings of its existing customer and economic trends. For the two months ended December 31, 2022, the Company recorded a $nil credit allowance (2021:$nil). The Company's revenue primarily comes from three key customers, as shown in the table below. The Company's remaining customers do not make up significant percentages of these balances. For additional details on product sales and fair value adjustments recognized in the period, refer to Note 3. Revenue For the two months ended December 31, 2022 2021 Customer A 10.3 % 36.9 % Customer B 62.1 % 56.1 % Customer C 26.2 % 0.0 % Trade Accounts Receivable As at December 31, 2022 October 31, 2022 Customer A 17.3 % 18.3 % Customer B 43.8 % 42.8 % Customer C 27.8 % 0.0 %

Prepayments and deposits

Prepayments and deposits	14 Months Ended
Prepayments and deposits	Dec. 31, 2022
Prepayments And Deposits [Abstract]
Prepayments and deposits	Prepayment and deposits As at December 31, 2022 October 31, 2022 Prepaid lease deposits $ 2.9 $ 2.8 Prepaid transaction costs 0.6 0.3 Prepaid construction charges 1.4 1.4 Prepaid equipment deposits 86.1 76.4 Prepaid insurance 6.0 5.7 Other prepaids 2.4 2.8 Total prepaids and deposits 99.4 89.4 Non-current portion of prepaids and deposits (4.2) (3.6) Current prepaids and deposits $ 95.2 $ 85.8

Accounts payable and accrued li

Accounts payable and accrued liabilities	14 Months Ended
Accounts payable and accrued liabilities	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Accounts payable and accrued liabilities	Accounts payable and accrued liabilities As at December 31, 2022 October 31, 2022 Trade payables $ 26.5 $ 16.3 Accrued fixed assets 35.4 7.2 Accrued expenses 4.4 16.3 Accrued compensation 9.6 7.7 Total accounts payable and accrued liabilities $ 75.9 $ 47.5

Financial instruments and finan

Financial instruments and financial risk factors	14 Months Ended
Financial instruments and financial risk factors	Dec. 31, 2022
Financial Instruments [Abstract]
Financial instruments and financial risk factors	Financial instruments and financial risk factors Fair values The Company’s financial instruments consist of cash equivalents, accounts receivable, other receivables, accounts payable and accrued liabilities, and convertible debt. The carrying amounts of other receivables, accounts payable and accrued liabilities approximate fair value due to the short-term maturity of these instruments. Fair value hierarchy levels 1 to 3 are based on the degree to which the fair value is observable: • Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and • Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). There were no transfers between the levels during the current or prior period. The Company’s financial assets measured at fair value on a recurring basis are measured under level 2 of the hierarchy and were calculated as follows: As at December 31, 2022 Balance Level 2 Accounts receivable $ 4.3 $ 4.3 $ 4.3 $ 4.3 As at October 31, 2022 Accounts receivable 1.5 1.5 $ 1.5 $ 1.5 Refer to Note 5 above for additional details related to measurement of accounts receivable. The Company’s financial liabilities measured at fair value on a recurring basis are measured under level 1 and 2 of the hierarchy and were calculated as follows: As at December 31, 2022 Balance Level 1 Level 2 Conversion feature of convertible debt (refer to Note 11) $ 22.5 $ — $ 22.5 $ 22.5 $ — $ 22.5 As at October 31, 2022 Conversion feature of convertible debt (refer to Note 11) 43.9 — 43.9 $ 43.9 $ — $ 43.9 Currency risk The Company is exposed to currency risk as its cash is mainly denominated in U.S. dollars, while its operations also require Canadian dollars and other currencies in addition to U.S. dollars. As at December 31, 2022, the impact of a 5% change in these respective currencies versus the U.S. dollar, would result in an immaterial impact. Interest rate risk Interest rate risk is the risk arising from the effect of changes in prevailing interest rates on the Company’s financial instruments. The Company is exposed to interest rate risk, as it has variable interest rate debt that includes an interest rate floor and cap. Refer to Note 11. Credit risk Credit risks associated with cash are minimal as the Company deposits the majority of its cash with large Canadian and U.S. financial institutions above a minimum credit rating and with a cap on maximum deposits with any one institution. The Company’s credit risks associated with receivables are managed and exposure to potential loss is also assessed as minimal. The Company's revenue and accounts receivable primarily come from three key customers under long-term contracts. The Company manages this risk by engaging with reputable multi-national corporations in stable jurisdictions and performing a review of a potential customer’s financial health prior to engaging in business. Liquidity risk Management has established an appropriate liquidity risk management framework for the management of the Company’s short-term, medium and long-term funding and liquidity requirements. The Corporation’s undiscounted significant contractual obligations and interest and principal repayments in respect of its financial liabilities and provisions are presented in the following table: Undiscounted, at December 31, 2022 Total Less than 1 year 1 - 3 years 3 - 5 years More than 5 years Accounts payable and accrued liabilities $ 75.9 $ 75.9 $ — $ — $ — Lease liabilities 78.6 8.8 15.3 13.7 40.8 Restoration 0.5 0.2 0.1 — 0.2 Convertible debt principal 318.4 — — 318.4 — Convertible debt interest 127.7 — — 127.7 — Total $ 601.1 $ 84.9 $ 15.4 $ 459.8 $ 41.0 Undiscounted, at October 31, 2022 Total Less than 1 year 1 - 3 years 3 - 5 years More than 5 years Accounts payable and accrued liabilities $ 47.5 $ 47.5 $ — $ — $ — Lease liabilities 76.6 8.0 14.3 13.0 41.3 Restoration 0.4 — 0.2 — 0.2 Convertible debt principal 300.0 — — 300.0 — Convertible debt interest 146.1 — — 146.1 — Total $ 570.6 $ 55.5 $ 14.5 $ 459.1 $ 41.5 Market risk The Company is exposed to commodity price movements for the inventory it holds and the products it produces. Commodity price risk management activities are currently limited to monitoring market prices. The Company’s revenues are sensitive to the market prices of the constituent payable metals contained in its products, notably cobalt and nickel. The following table sets out the Company's exposure, as at December 31, 2022 and October 31, 2022, in relation to the impact of movements in the cobalt and nickel price for the provisionally invoiced sales volume of Black Mass & Equivalents by metric tonne: Cobalt Nickel As at December 31, 2022 October 31, 2022 December 31, 2022 October 31, 2022 BM&E Metric tonnes subject to fair value pricing adjustments 4,428 4,202 4,428 4,202 10% increase in prices $ 0.8 $ 1.1 $ 1.4 $ 1.0 10% decrease in prices $ (0.8) $ (1.1) $ (1.4) $ (1.0) The following table sets out the period end commodity prices for cobalt and nickel as at December 31, 2022 and October 31, 2022: Market price per tonne As at December 31, 2022 October 31, 2022 Cobalt $ 41,337 $ 53,462 Nickel 30,400 21,710 Capital risk management The Company manages its capital to ensure that entities in the Company will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. The capital structure of the Company consists of net cash (cash and cash equivalents after deducting convertible debt) and equity of the Company (comprising issued share capital and other reserves).

Commitments

Commitments	14 Months Ended
Commitments	Dec. 31, 2022
Commitments [Abstract]
Commitments	Commitments and contingencies As of December 31, 2022, there were $9.5 million in committed purchase orders or agreements for equipment and services (October 31, 2022: $9.2 million). Legal Proceedings The Company is and may be subject to various claims and legal proceedings in the ordinary course of its business. Due to the inherent risks and uncertainties of the litigation process, we cannot predict the final outcome or timing of claims or legal proceedings. The Company records provisions for such claims when an outflow of resources is considered probable and a reliable estimate can be made. No such provisions have been recorded by the Company. U.S. Shareholder Class Action On April 19, 2022, a putative securities class action lawsuit was filed in the U.S. District Court for the Eastern District of New York against the Company, its CEO, and its former CFO, on behalf of a proposed class of purchasers of the Company’s publicly traded securities during the period from February 16, 2021 through March 23, 2022. The complaint, which is captioned as Barnish v. Li-Cycle Holdings Corp., et al., 1:22-cv-02222 (E.D.N.Y.), alleges that the defendants issued false and misleading statements concerning Li-Cycle’s business, which were revealed when Blue Orca Capital published a short seller report on March 24, 2022. The complaint seeks compensatory damages and an award of costs. The original complaint asserted claims under Sections 10(b) and 20(a) of the U.S. Securities Exchange Act of 1934 (the “Exchange Act”). On July 22, 2022, the court appointed The Lanigan Group, Inc. as lead plaintiff. On October 11, 2022, the lead plaintiff filed an amended complaint asserting claims pursuant to Section 14(a) of the Exchange Act and Sections 11 and 15 of the U.S. Securities Act of 1933 on behalf of a proposed class comprising: (a) all persons who were eligible to vote at Peridot Acquisition Corp.’s extraordinary general meeting held during August 2021, and (b) all persons who acquired Li-Cycle publicly traded securities pursuant to Li-Cycle’s March 2021 Registration Statement. Unlike the original complaint, the amended complaint does not assert any claims under either Section 10(b) or Section 20(a) of the Exchange Act. The claims in the amended complaint are asserted against both the Company and certain individual defendants, including Li-Cycle’s two Co-Founders, Li-Cycle’s former CFO, two current directors of Li-Cycle (who were also directors and/or officers of Peridot Acquisition Corp. at the time of the Business Combination), and certain other directors or officers of Peridot Acquisition Corp. at the time of the Business Combination. On December 19, 2022, the Company and each of the individual defendants moved to dismiss the amended complaint in its entirety. The motion to dismiss is not yet fully briefed. The Company believes that the allegations in the amended complaint are without merit and intends to vigorously defend against this matter. No amounts have been recorded for any potential liability arising from this matter.

Loss per share

Loss per share	14 Months Ended
Loss per share	Dec. 31, 2022
Earnings per share [abstract]
Loss per share	s per share For the two months ended December 31, 2022 2021 Total net income $ 1.7 $ 3.9 Weighted average number of common shares 176.0 163.2 Effect of dilutive securities Stock options 2.1 4.0 Restricted share units 2.0 0.9 Warrants — 0.7 Dilutive number of common shares 180.1 168.8 Basic earnings per common share $ 0.01 $ 0.02 Diluted earnings per common share $ 0.01 $ 0.02

Segment reporting

Segment reporting	14 Months Ended
Segment reporting	Dec. 31, 2022
Disclosure of operating segments [abstract]
Segment reporting	Segment reporting The condensed consolidated financial information presented in the accompanying financial statements is reviewed regularly by the Company’s chief operating decision maker (“CODM”) for making strategic decisions, allocations resources and assessing performance. The information review by CODM for decision making purposes aligns with the information provided above in the statements of loss and comprehensive loss, financial position, and cash flows. The Corporation’s CODM is its Chief Executive Officer. During the two months ended December 31, 2022, the Company operated in Canada and the United States. The Company also has invested in future operations in Europe. Management has concluded that the customers, and the nature and method of distribution of goods and services delivered, if any, to these geographic regions are similar in nature. The risks and returns across the geographic regions are not dissimilar; therefore, the Company operates as a single operating segment. The following is a summary of the Company’s geographical information: Canada United States Germany Other Total Revenues Two months ended December 31, 2022 $ 0.9 $ 5.0 $ — $ — $ 5.9 Two months ended December 31, 2021 0.1 2.7 — — 2.8 Non-current assets As at December 31, 2022 38.1 213.0 11.6 2.7 265.4 As of October 31, 2022 $ 26.8 $ 161.4 $ 10.7 $ 2.5 $ 201.4 Revenue is attributed to each geographical location based on location of sale. The Company does not currently have active operations in any other geographical regions.

Statement of cash flows, additi

Statement of cash flows, additional disclosures	14 Months Ended
Statement of cash flows, additional disclosures	Dec. 31, 2022
Statement of cash flows [abstract]
Notes to the Consolidated Statement of Cash Flows	Notes to the consolidated statement of cash flows As at December 31, 2022, the Company had cash on hand of $110.6 million (October 31, 2022: $269.3 million) and cash equivalents in the form of short term guaranteed investment certificates of $407.3 million (October 31, 2022: $309.0 million). Changes in liabilities arising from financing activities comprise the following: For the two months ended December 31, 2022 Lease liabilities Restoration provisions Convertible debt Conversion feature of convertible debt Balance, beginning of the period $ 51.8 $ 0.4 $ 244.6 $ 43.9 Cash changes: Repayments of lease liabilities (0.5) — — — Total changes from financing cash flows (0.5) — — — Non-cash changes: New leases 1.8 — — — Accrued interest and accretion — — (6.6) — Foreign exchange gain or (loss) 0.8 — — — Fair value gain/loss on conversion feature of convertible debt — — — (21.4) Accrued interest paid in kind — — 12.4 — Total non-cash changes $ 2.6 $ — $ 5.8 $ (21.4) Balance, end of the period $ 53.9 $ 0.4 $ 250.4 $ 22.5

Basis of preparation (Policies)

Basis of preparation (Policies)	14 Months Ended
Basis of preparation (Policies)	Dec. 31, 2022
List Of Accounting Policies [Abstract]
Statement of compliance	Statement of compliance On December 21, 2022, the Company announced a change in its financial year end from October 31 to December 31. The change is being made to better align Li-Cycle’s financial reporting calendar with peer group companies. As a result, the Company has prepared these condensed consolidated financial statements for the two-month period from November 1, 2022 through December 31, 2022. The Company’s next financial year will cover the period from January 1, 2023 to December 31, 2023. These financial statements do not include all the notes required in annual financial statements. These condensed consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") under International Accounting Standard (IAS) 34 - Interim Financial Reporting. Except as described below, these condensed consolidated financial statements were prepared using the same basis of presentation, accounting policies and methods of computation as set forth in Note 2, Significant accounting policies in the Company's consolidated financial statements for the year ended October 31, 2022. These condensed consolidated financial statements were approved and authorized for issue by the Board of Directors on March 30, 2023.
Basis of consolidation	Basis of consolidationThese condensed consolidated financial statements include the financial information of the Company and its subsidiaries. The Company’s subsidiaries are entities controlled by the Company. Control exists when the Company has power over an investee, when the Company is exposed, or has rights, to variable returns from the investee and when the Company has the ability to affect those returns through its power over the investee. The subsidiaries are included in the condensed consolidated financial statements of the Company from the effective date of incorporation up to the effective date of disposition or loss of control. In assessing control, potential voting rights that are presently exercisable or convertible is taken into account. The accounting policies of subsidiaries are aligned with policies adopted by the Company. The Company’s principal subsidiaries and their geographic location as at December 31, 2022 are set forth in the table below: Company Location Ownership interest Li-Cycle Corp. Ontario, Canada 100% Li-Cycle Americas Corp. Ontario, Canada 100% Li-Cycle U.S. Holdings Inc. Delaware, U.S. 100% Li-Cycle Inc. Delaware, U.S. 100% Li-Cycle North America Hub, Inc. Delaware, U.S. 100% Li-Cycle Europe AG Switzerland 100% Li-Cycle APAC PTE. LTD. Singapore 100% Li-Cycle Germany GmbH Germany 100% Li-Cycle Norway AS Norway 67% Intercompany transactions, balances and unrealized gains/losses on transactions between the Company and its subsidiaries have been eliminated.
Basis of preparation	2.4 Presentation currency These condensed consolidated financial statements are presented in U.S. dollars, which is the Company's functional currency. All figures are presented in millions of U.S. dollars unless otherwise specified.
Foreign currencies	Foreign currencies The reporting and functional currency of the Company is the U.S. dollar. Transactions in currencies other than the U.S. dollar are recorded at the rates of exchange prevailing on the dates of transactions. At the end of each reporting period, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at that date.

Basis of preparation (Tables)

Basis of preparation (Tables)	14 Months Ended
Basis of preparation (Tables)	Dec. 31, 2022
List Of Accounting Policies [Abstract]
Summary of Principal Subsidiaries and their Geographic Location	The Company’s principal subsidiaries and their geographic location as at December 31, 2022 are set forth in the table below: Company Location Ownership interest Li-Cycle Corp. Ontario, Canada 100% Li-Cycle Americas Corp. Ontario, Canada 100% Li-Cycle U.S. Holdings Inc. Delaware, U.S. 100% Li-Cycle Inc. Delaware, U.S. 100% Li-Cycle North America Hub, Inc. Delaware, U.S. 100% Li-Cycle Europe AG Switzerland 100% Li-Cycle APAC PTE. LTD. Singapore 100% Li-Cycle Germany GmbH Germany 100% Li-Cycle Norway AS Norway 67%

Revenue - product sales and r_2

Revenue - product sales and recycling services (Tables)	14 Months Ended
Revenue - product sales and recycling services (Tables)	Dec. 31, 2022
Product sales revenue [Abstract]
Schedule of product sales revenue	For the two months ended December 31, 2022 2021 Product revenue recognized in the period $ 3.5 $ 1.5 Fair value pricing adjustments 2.3 1.2 Product sales 5.8 2.7 Recycling services 0.1 0.1 Revenue $ 5.9 $ 2.8 For the two months ended December 31, 2022 2021 Product revenue recognized in the period $ 3.5 $ 1.5 Recycling services 0.1 0.1 Total revenue before FV pricing adjustment $ 3.6 $ 1.6

Other income (expense) (Tables)

Other income (expense) (Tables)	14 Months Ended
Other income (expense) (Tables)	Dec. 31, 2022
Financial Instruments [Abstract]
Disclosure of other operating income (expense)	The following table summarizes the Company's other income (expense): For the two months ended December 31, 2022 2021 Interest income on short-term investments $ 3.5 $ 0.1 Interest income 3.5 0.1 Interest expense and accretion on convertible debt (2.3) (2.2) Interest expense on leases (0.7) (0.3) Foreign exchange losses (0.8) — Interest expense and other costs (3.8) (2.5) Fair value gain (loss) on embedded derivatives (Note 11) 21.4 (9.1) Fair value gain on warrants — 25.1 Gains (losses) on financial instruments 21.4 16.0 Total $ 21.1 $ 13.6

Accounts receivable (Tables)

Accounts receivable (Tables)	14 Months Ended
Accounts receivable (Tables)	Dec. 31, 2022
Trade and other current receivables [abstract]
Schedule of other receivables	Other receivables consist principally of interest receivable. Aging Summary As at December 31, 2022 October 31, 2022 Current $ 3.3 $ 0.3 1-30 days 0.5 0.6 31-60 days — 0.3 61-90 days 0.3 0.1 91 days and over 0.2 0.2 Total accounts receivable $ 4.3 $ 1.5
Schedule of revenue by customers	The Company's revenue primarily comes from three key customers, as shown in the table below. The Company's remaining customers do not make up significant percentages of these balances. For additional details on product sales and fair value adjustments recognized in the period, refer to Note 3. Revenue For the two months ended December 31, 2022 2021 Customer A 10.3 % 36.9 % Customer B 62.1 % 56.1 % Customer C 26.2 % 0.0 % Trade Accounts Receivable As at December 31, 2022 October 31, 2022 Customer A 17.3 % 18.3 % Customer B 43.8 % 42.8 % Customer C 27.8 % 0.0 %

Prepayments and deposits (Table

Prepayments and deposits (Tables)	14 Months Ended
Prepayments and deposits (Tables)	Dec. 31, 2022
Prepayments And Deposits [Abstract]
Schedule of prepayments and deposits	As at December 31, 2022 October 31, 2022 Prepaid lease deposits $ 2.9 $ 2.8 Prepaid transaction costs 0.6 0.3 Prepaid construction charges 1.4 1.4 Prepaid equipment deposits 86.1 76.4 Prepaid insurance 6.0 5.7 Other prepaids 2.4 2.8 Total prepaids and deposits 99.4 89.4 Non-current portion of prepaids and deposits (4.2) (3.6) Current prepaids and deposits $ 95.2 $ 85.8

Inventory (Tables)

Inventory (Tables)	14 Months Ended
Inventory (Tables)	Dec. 31, 2022
Inventories [Abstract]
Schedule of inventory	As at December 31, 2022 October 31, 2022 Raw materials $ 5.8 $ 4.7 Finished goods 1.8 1.7 Parts and tools 0.7 1.1 Total inventories $ 8.3 $ 7.5

Plant and equipment (Tables)

Plant and equipment (Tables)	14 Months Ended
Plant and equipment (Tables)	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
Summary of plant and equipment	For the two months ended December 31, 2022 Assets under construction Plant equipment and other Computer equipment Vehicles Leasehold improvements Total Cost Balance, beginning of the period $ 107.4 $ 34.3 $ 1.8 $ 0.3 $ 9.8 $ 153.6 Additions 63.6 — 0.3 — 0.1 64.0 Transfers (3.9) 3.9 — — — — Balance, end of the period 167.1 38.2 2.1 0.3 9.9 217.6 Accumulated depreciation Balance, beginning of the period — (4.3) (0.2) (0.1) (1.3) (5.9) Depreciation — (1.0) (0.1) — (0.2) (1.3) Balance, end of the period — (5.3) (0.3) (0.1) (1.5) (7.2) Net book value $ 167.1 $ 32.9 $ 1.8 $ 0.2 $ 8.4 $ 210.4 For the year ended October 31, 2022 Assets under construction Plant equipment and other Computer equipment Vehicles Leasehold improvements Total Cost Balance, beginning of the year $ 15.6 $ 6.4 $ 0.2 $ 0.2 $ 6.2 $ 28.6 Additions 119.5 0.2 1.6 0.1 3.6 125.0 Transfers (27.7) 27.7 — — — — Balance, end of the year 107.4 34.3 1.8 0.3 9.8 153.6 Accumulated depreciation Balance, beginning of the year — (1.6) — (0.1) (0.5) (2.2) Depreciation — (2.7) (0.2) — (0.8) (3.7) Balance, end of the year — (4.3) (0.2) (0.1) (1.3) (5.9) Net book value $ 107.4 $ 30.0 $ 1.6 $ 0.2 $ 8.5 $ 147.7

Related party transactions (Tab

Related party transactions (Tables)	14 Months Ended
Related party transactions (Tables)	Dec. 31, 2022
Disclosure of transactions between related parties [abstract]
Related party transactions	The remuneration of the executive officers and directors, who are the key management personnel of the Company, is set out below: For the two months ended December 31, 2022 2021 Salaries $ 0.6 $ 0.5 Share-based compensation 1.4 0.8 Fees and benefits 0.6 0.5 Total remuneration of key management personnel $ 2.6 $ 1.8 Outstanding balances of remuneration of the executive officers and directors are summarized as follows: As at December 31, 2022 October 31, 2022 Accounts payable and accrued liabilities $ 2.8 $ 2.3 Outstanding balances 2.8 2.3

Accounts payable and accrued _2

Accounts payable and accrued liabilities (Tables)	14 Months Ended
Accounts payable and accrued liabilities (Tables)	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Schedule of accounts payable and accrued liabilities	As at December 31, 2022 October 31, 2022 Trade payables $ 26.5 $ 16.3 Accrued fixed assets 35.4 7.2 Accrued expenses 4.4 16.3 Accrued compensation 9.6 7.7 Total accounts payable and accrued liabilities $ 75.9 $ 47.5

Convertible Debt (Tables)

Convertible Debt (Tables)	14 Months Ended
Convertible Debt (Tables)	Dec. 31, 2022
Financial Instruments [Abstract]
Summary of Convertible Debt	As at December 31, 2022 October 31, 2022 KSP Convertible Notes (a) $ 91.5 $ 92.4 Glencore Convertible Notes (b) 181.4 196.1 Total convertible debt at end of period $ 272.9 $ 288.5 (a) KSP Convertible Notes As at December 31, 2022 October 31, 2022 Principal of convertible notes at beginning of period $ 105.9 $ 100.0 Issuance of convertible notes 4.3 5.9 Principal of convertible notes at end of period 110.2 105.9 Conversion feature at beginning of period 9.1 29.0 Fair value gain on embedded derivative (3.1) (19.9) Conversion feature at end of period 6.0 9.1 Debt component at beginning of period 83.3 71.9 Debt component issued 4.3 5.9 Accrued interest paid in kind (4.3) (5.9) Accrued interest expense 2.2 11.4 Debt component at end of period 85.5 83.3 Total convertible debt at end of period $ 91.5 $ 92.4 Note Date Issued Amount Issued KSP Convertible Note September 29, 2021 $ 100.0 PIK Note December 31, 2021 1.8 PIK Note June 30, 2022 4.1 PIK Note December 31, 2022 4.3 Total $ 110.2 (b) Glencore Convertible Notes As at December 31, 2022 October 31, 2022 Principal of convertible notes at beginning of period $ 200.0 $ — Issuance of convertible notes 8.1 200.0 Principal of convertible notes at end of period 208.1 200.0 Conversion feature at beginning of period 34.8 — Conversion feature issued — 46.2 Fair value gain on embedded derivative (18.3) (11.4) Conversion feature at end of period 16.5 34.8 Debt component at beginning of period 161.3 — Debt component issued 8.1 153.8 Transaction costs — (1.3) Accrued interest paid in kind (8.1) — Accrued interest expense 3.6 8.8 Debt component at end of period 164.9 161.3 Total convertible debt at end of period $ 181.4 $ 196.1
Summary of assumptions used in stock option pricing	The assumptions used in the model were as follows: (Issuance date) October 31, 2022 December 31, 2022 Risk free interest rate 1.1% 4.4% 4.2% Expected life of options 5 years 3.9 years 3.8 years Expected dividend yield 0.0% 0.0% 0.0% Expected stock price volatility 66% 63% 63% Share Price $12.56 $5.96 $4.76

Financial instruments and fin_2

Financial instruments and financial risk factors (Tables)	14 Months Ended
Financial instruments and financial risk factors (Tables)	Dec. 31, 2022
Financial Instruments [Abstract]
Schedule of fair value measurement of assets	The Company’s financial assets measured at fair value on a recurring basis are measured under level 2 of the hierarchy and were calculated as follows: As at December 31, 2022 Balance Level 2 Accounts receivable $ 4.3 $ 4.3 $ 4.3 $ 4.3 As at October 31, 2022 Accounts receivable 1.5 1.5 $ 1.5 $ 1.5
Schedule of fair value measurement of liabilities	The Company’s financial liabilities measured at fair value on a recurring basis are measured under level 1 and 2 of the hierarchy and were calculated as follows: As at December 31, 2022 Balance Level 1 Level 2 Conversion feature of convertible debt (refer to Note 11) $ 22.5 $ — $ 22.5 $ 22.5 $ — $ 22.5 As at October 31, 2022 Conversion feature of convertible debt (refer to Note 11) 43.9 — 43.9 $ 43.9 $ — $ 43.9
Schedule of fair value measurement of price	The following table sets out the Company's exposure, as at December 31, 2022 and October 31, 2022, in relation to the impact of movements in the cobalt and nickel price for the provisionally invoiced sales volume of Black Mass & Equivalents by metric tonne: Cobalt Nickel As at December 31, 2022 October 31, 2022 December 31, 2022 October 31, 2022 BM&E Metric tonnes subject to fair value pricing adjustments 4,428 4,202 4,428 4,202 10% increase in prices $ 0.8 $ 1.1 $ 1.4 $ 1.0 10% decrease in prices $ (0.8) $ (1.1) $ (1.4) $ (1.0) The following table sets out the period end commodity prices for cobalt and nickel as at December 31, 2022 and October 31, 2022: Market price per tonne As at December 31, 2022 October 31, 2022 Cobalt $ 41,337 $ 53,462 Nickel 30,400 21,710

Loss per share (Tables)

Loss per share (Tables)	14 Months Ended
Loss per share (Tables)	Dec. 31, 2022
Earnings per share [abstract]
Summary of earnings per share	For the two months ended December 31, 2022 2021 Total net income $ 1.7 $ 3.9 Weighted average number of common shares 176.0 163.2 Effect of dilutive securities Stock options 2.1 4.0 Restricted share units 2.0 0.9 Warrants — 0.7 Dilutive number of common shares 180.1 168.8 Basic earnings per common share $ 0.01 $ 0.02 Diluted earnings per common share $ 0.01 $ 0.02

Segment reporting (Tables)

Segment reporting (Tables)	14 Months Ended
Segment reporting (Tables)	Dec. 31, 2022
Disclosure of operating segments [abstract]
Schedule of geographical areas	The following is a summary of the Company’s geographical information: Canada United States Germany Other Total Revenues Two months ended December 31, 2022 $ 0.9 $ 5.0 $ — $ — $ 5.9 Two months ended December 31, 2021 0.1 2.7 — — 2.8 Non-current assets As at December 31, 2022 38.1 213.0 11.6 2.7 265.4 As of October 31, 2022 $ 26.8 $ 161.4 $ 10.7 $ 2.5 $ 201.4

Statement of cash flows, addi_2

Statement of cash flows, additional disclosures (Tables)	14 Months Ended
Statement of cash flows, additional disclosures (Tables)	Dec. 31, 2022
Statement of cash flows [abstract]
Changes in Liabilities Arising from Financing Activities	Changes in liabilities arising from financing activities comprise the following: For the two months ended December 31, 2022 Lease liabilities Restoration provisions Convertible debt Conversion feature of convertible debt Balance, beginning of the period $ 51.8 $ 0.4 $ 244.6 $ 43.9 Cash changes: Repayments of lease liabilities (0.5) — — — Total changes from financing cash flows (0.5) — — — Non-cash changes: New leases 1.8 — — — Accrued interest and accretion — — (6.6) — Foreign exchange gain or (loss) 0.8 — — — Fair value gain/loss on conversion feature of convertible debt — — — (21.4) Accrued interest paid in kind — — 12.4 — Total non-cash changes $ 2.6 $ — $ 5.8 $ (21.4) Balance, end of the period $ 53.9 $ 0.4 $ 250.4 $ 22.5

Basis of preparation - Summary

Basis of preparation - Summary of Subsidiary Ownership (Details)	14 Months Ended
	Dec. 31, 2022
Li-Cycle Corp.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%
Li-Cycle Americas Corp.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%
Li-Cycle U.S. Holdings Inc.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%
Li-Cycle Inc.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%
Li-Cycle North America Hub, Inc.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%
Li-Cycle Europe AG
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%
Li-Cycle APAC PTE. LTD.
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%
Li-Cycle Germany GmbH
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100%
Li-Cycle Norway AS
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	67%

Revenue - product sales and r_3

Revenue - product sales and recycling services - Schedule of product sales revenue (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended	14 Months Ended
	Dec. 31, 2022	Oct. 31, 2021	Dec. 31, 2022
Product sales revenue [Abstract]
Product revenue recognized in the period	$ 3.5	$ 1.5
Fair value pricing adjustments	2.3	1.2
Product sales	5.8	2.7	$ 5.8
Recycling services	0.1	0.1
Revenue before Fair Value Pricing Adjustment		1.6	$ 3.6
Revenue	$ 5.9	$ 2.8

Other income (expense) (Details

Other income (expense) (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
Other income (expense) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Oct. 31, 2021
Financial Instruments [Abstract]
Interest income	$ 3.5	$ 0.1
Interest expense and accretion on convertible debt	(2.3)	(2.2)
Interest expense on leases	0.7	0.3
Foreign exchange losses	(0.8)	0
Interest expense and other costs	(3.8)	(2.5)
Fair value gain on embedded derivative	21.4	(9.1)
Fair value gain on warrants	0	25.1
Gains (losses) on financial assets at fair value through profit or loss	(21.4)	(16)
Other income (expense)	$ (21.1)	$ (13.6)

Accounts receivable - Schedule

Accounts receivable - Schedule of other receivables (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Dec. 31, 2022	Oct. 31, 2021	Oct. 31, 2022
Disclosure of provision matrix [line items]
Accounts receivable	$ 4.3		$ 1.5
Non-trade receivables	3.5		2.1
Current receivables from taxes other than income tax	4.1		3.7
Other Current Accrued Receivables	2.4		2
Other receivables	10		7.8
Current
Disclosure of provision matrix [line items]
Accounts receivable	3.3		0.3
1-30 days
Disclosure of provision matrix [line items]
Accounts receivable	0.5		0.6
31-60 days
Disclosure of provision matrix [line items]
Accounts receivable	0		0.3
61-90 days
Disclosure of provision matrix [line items]
Accounts receivable	0.3		0.1
91 days and over
Disclosure of provision matrix [line items]
Accounts receivable	$ 0.2		$ 0.2
Customer A
Disclosure of provision matrix [line items]
Main customers as a percentage of revenue	10.30%	36.90%
Customer B
Disclosure of provision matrix [line items]
Main customers as a percentage of revenue	62.10%	56.10%
Customer C
Disclosure of provision matrix [line items]
Main customers as a percentage of revenue	26.20%	0%

Accounts receivable - Narrative

Accounts receivable - Narrative (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Dec. 31, 2022	Oct. 31, 2021
Trade and other current receivables [abstract]
Fair value pricing adjustments	$ 2.3	$ 1.2

Accounts receivable - Schedul_2

Accounts receivable - Schedule of revenue by customers (Details)	2 Months Ended	3 Months Ended
	Dec. 31, 2022	Oct. 31, 2021	Oct. 31, 2022
Customer A
Disclosure of provision matrix [line items]
Main customers as a percentage of revenue	10.30%	36.90%
Main customers as a percentage of accounts receivable	17.30%		18.30%
Customer B
Disclosure of provision matrix [line items]
Main customers as a percentage of revenue	62.10%	56.10%
Main customers as a percentage of accounts receivable	43.80%		42.80%
Customer C
Disclosure of provision matrix [line items]
Main customers as a percentage of revenue	26.20%	0%
Main customers as a percentage of accounts receivable	27.80%		0%

Prepayments and deposits (Detai

Prepayments and deposits (Details) - USD ($) $ in Millions	Dec. 31, 2022	Oct. 31, 2022
Prepayments And Deposits [Abstract]
Prepaid lease deposits	$ 2.9	$ 2.8
Prepaid transaction costs	0.6	0.3
Prepaid construction charges	1.4	1.4
Prepaid equipment deposits	86.1	76.4
Prepaid insurance	6	5.7
Other prepaids	2.4	2.8
Total prepaids and deposits	99.4	89.4
Other assets	(4.2)	(3.6)
Prepayment and deposits	$ 95.2	$ 85.8

Inventory (Details)

Inventory (Details) - USD ($)	2 Months Ended	3 Months Ended
Inventory (Details) - USD ($)	Dec. 31, 2022	Oct. 31, 2021	Nov. 30, 2022	Oct. 31, 2022
Inventories [Abstract]
Raw materials	$ 5,800,000		$ 4,700,000
Finished goods	1,800,000		1,700,000
Current spare parts	700,000		1,100,000
Inventories	8,300,000		$ 7,500,000	$ 7,500,000
Cost of inventories recognised as expense	3,800,000	$ 2,200,000
Write-down of finished goods	0	0
Write-down of raw materials		400,000
Borrowing costs capitalised	3,500,000	$ 0
Inventory Write-Up, Raw Materials	$ 900,000

Plant and equipment (Details)

Plant and equipment (Details) - USD ($)	2 Months Ended	3 Months Ended	22 Months Ended
Plant and equipment (Details) - USD ($)	Dec. 31, 2022	Oct. 31, 2021	Oct. 31, 2022
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	$ 147,700,000
Property, plant and equipment at end of period	210,400,000		$ 147,700,000
Employee salaries capitalized to assets under construction	1,400,000	$ 0
Share-based compensation cost capitalized to assets under construction	100,000
Borrowing costs capitalised	$ 3,500,000	0
Capitalisation rate of borrowing costs eligible for capitalisation	12.60%
Construction in progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	$ 107,400,000
Property, plant and equipment at end of period	167,100,000		107,400,000
Machinery
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	30,000,000
Property, plant and equipment at end of period	32,900,000		30,000,000
Computer equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	1,600,000
Property, plant and equipment at end of period	1,800,000		1,600,000
Vehicles
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	200,000
Property, plant and equipment at end of period	200,000		200,000
Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	8,500,000
Property, plant and equipment at end of period	8,400,000		8,500,000
Gross carrying amount
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	153,600,000
Additions other than through business combinations, property, plant and equipment	64,000,000		125,000,000
Increase (decrease) through transfers from construction in progress, property, plant and equipment	0		0
Property, plant and equipment at end of period	217,600,000	28,600,000	153,600,000
Gross carrying amount \| Construction in progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	107,400,000
Additions other than through business combinations, property, plant and equipment	63,600,000		119,500,000
Increase (decrease) through transfers from construction in progress, property, plant and equipment	(3,900,000)		(27,700,000)
Property, plant and equipment at end of period	167,100,000	15,600,000	107,400,000
Gross carrying amount \| Machinery
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	34,300,000
Additions other than through business combinations, property, plant and equipment	0		200,000
Increase (decrease) through transfers from construction in progress, property, plant and equipment	3,900,000		27,700,000
Property, plant and equipment at end of period	38,200,000	6,400,000	34,300,000
Gross carrying amount \| Computer equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	1,800,000
Additions other than through business combinations, property, plant and equipment	300,000		1,600,000
Increase (decrease) through transfers from construction in progress, property, plant and equipment	0		0
Property, plant and equipment at end of period	2,100,000	200,000	1,800,000
Gross carrying amount \| Vehicles
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	300,000
Additions other than through business combinations, property, plant and equipment	0		100,000
Property, plant and equipment at end of period	300,000	200,000	300,000
Gross carrying amount \| Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	9,800,000
Additions other than through business combinations, property, plant and equipment	100,000		3,600,000
Property, plant and equipment at end of period	9,900,000	6,200,000	9,800,000
Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(5,900,000)
Depreciation	(1,300,000)		(3,700,000)
Property, plant and equipment at end of period	(7,200,000)	(2,200,000)	(5,900,000)
Accumulated depreciation \| Construction in progress
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	0
Depreciation	0		0
Property, plant and equipment at end of period	0	0	0
Accumulated depreciation \| Machinery
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(4,300,000)
Depreciation	(1,000,000)		(2,700,000)
Property, plant and equipment at end of period	(5,300,000)	(1,600,000)	(4,300,000)
Accumulated depreciation \| Computer equipment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(200,000)
Depreciation	(100,000)		(200,000)
Property, plant and equipment at end of period	(300,000)	0	(200,000)
Accumulated depreciation \| Vehicles
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(100,000)
Depreciation	0		0
Property, plant and equipment at end of period	(100,000)	(100,000)	(100,000)
Accumulated depreciation \| Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(1,300,000)
Depreciation	(200,000)		(800,000)
Property, plant and equipment at end of period	$ (1,500,000)	$ (500,000)	$ (1,300,000)

Related party transactions - Su

Related party transactions - Summary of Remuneration of Directors (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended	14 Months Ended
	Dec. 31, 2022	Oct. 31, 2021	Dec. 31, 2022
Disclosure of transactions between related parties [abstract]
Salaries	$ 0.6	$ 0.5
Share-based compensation	1.4	0.8
Fees and benefits	$ 0.6	0.5
Total remuneration of key management personnel		$ 1.8	$ 2.6

Related party transactions - Na

Related party transactions - Narrative (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Dec. 31, 2022	Oct. 31, 2021
Disclosure of transactions between related parties [line items]
Key management personnel compensation, directors fees	$ 0.1	$ 0.1

Related party transactions - Ou

Related party transactions - Outstanding Balances Of Remunerations Of Directors (Details) - USD ($) $ in Millions	Dec. 31, 2022	Oct. 31, 2022
Disclosure of transactions between related parties [line items]
Amounts payable, related party transactions	$ 2.8	$ 2.3
Accounts Payable And Accrued Liabilities
Disclosure of transactions between related parties [line items]
Amounts payable, related party transactions	$ 2.8	$ 2.3

Related party transactions - Ex

Related party transactions - Expenses Incurred with Related Parties (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
	Dec. 31, 2022	Oct. 31, 2021
Disclosure of transactions between related parties [line items]
Professional fees expense	$ 3.3	$ 1.9
Services received, related party transactions	$ 0	$ 0

Accounts payable and accrued _3

Accounts payable and accrued liabilities - Schedule of accounts payable and accrued liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Oct. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Trade payables	$ 26.5	$ 16.3
Accrued fixed assets	35.4	7.2
Accrued expenses	4.4	16.3
Accrued compensation	9.6	7.7
Accounts payable and accrued liabilities	$ 75.9	$ 47.5

Convertible Debt - Summary of C

Convertible Debt - Summary of Convertible Debt (Details) - USD ($) $ in Millions		2 Months Ended	3 Months Ended	14 Months Ended	22 Months Ended
	Sep. 29, 2021	Dec. 31, 2022	Oct. 31, 2021	Dec. 31, 2022	Oct. 31, 2022
Disclosure of detailed information about borrowings [line items]
Issuance of convertible notes		$ 4.3			$ 5.9
Fair value gain on embedded derivative		21.4	$ (9.1)
Total convertible debt at end of period		272.9		$ 272.9	288.5
Convertible debt
Disclosure of detailed information about borrowings [line items]
Fair value gain on embedded derivative
Koch Strategic Platforms Convertible Note
Disclosure of detailed information about borrowings [line items]
Principal of convertible notes at beginning of period		105.9		100
Principal of convertible notes at end of period	$ 100	110.2	100	110.2	105.9
Conversion feature at beginning of period		9.1		29
Fair value gain on embedded derivative		(3.1)			(19.9)
Conversion feature at end of period		6	29	6	9.1
Debt component at beginning of period		83.3		71.9
Debt component issued	72.3	4.3			5.9
Transaction costs	$ 1.6
Accrued interest paid in kind		(4.3)			(5.9)
Accrued interest expense		2.2	11.4	2.2
Debt component at end of period		85.5	71.9	85.5	83.3
Total convertible debt at end of period		91.5		91.5	92.4
Total convertible debt at end of period		91.5		91.5	92.4
Glencore Convertible Note
Disclosure of detailed information about borrowings [line items]
Principal of convertible notes at beginning of period		200		0
Issuance of convertible notes		8.1			200
Principal of convertible notes at end of period		208.1	0	208.1	200
Conversion feature at beginning of period		34.8		0
Conversion feature issued		0			46.2
Fair value gain on embedded derivative		(18.3)			(11.4)
Conversion feature at end of period		16.5	0	16.5	34.8
Debt component at beginning of period		161.3		0
Debt component issued		8.1			153.8
Transaction costs		0			1.3
Accrued interest paid in kind		(8.1)			0
Accrued interest expense		3.6		3.6	8.8
Debt component at end of period		164.9	$ 0	164.9	161.3
Total convertible debt at end of period		181.4		181.4	$ 196.1
Payment in Kind Note
Disclosure of detailed information about borrowings [line items]
Principal of convertible notes at end of period		$ 4.3		$ 4.3

Convertible Debt - Narrative (D

Convertible Debt - Narrative (Details) - USD ($)			2 Months Ended	3 Months Ended	14 Months Ended	22 Months Ended
Convertible Debt - Narrative (Details) - USD ($)	May 31, 2022	Sep. 29, 2021	Dec. 31, 2022	Oct. 31, 2021	Dec. 31, 2022	Oct. 31, 2022
Disclosure of detailed information about borrowings [line items]
Fair value gain on embedded derivative			$ 21,400,000	$ (9,100,000)
Koch Strategic Platforms Convertible Note
Disclosure of detailed information about borrowings [line items]
Issuance of convertible notes		$ 100,000,000
Borrowings, conversion price (in dollars per share)		$ 13.43
Percentage of 7-day-volume weighted average price of common shares used to determine conversion price		125%
Borrowings, conversion price triggering conversion feature (in dollars per share)		$ 17.46
Fair value gain on embedded derivative			(3,100,000)			$ (19,900,000)
Koch Strategic Platforms Convertible Note \| Embedded Derivative
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 27,700,000
Koch Strategic Platforms Convertible Note \| LIBOR
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis		5%
Adjustment to paid in kind interest rate		6%
Koch Strategic Platforms Convertible Note \| LIBOR \| Minimum
Disclosure of detailed information about borrowings [line items]
Borrowings, variable rate, fixed		1%
Koch Strategic Platforms Convertible Note \| LIBOR \| Maximum
Disclosure of detailed information about borrowings [line items]
Borrowings, variable rate, fixed		2%
Convertible debt
Disclosure of detailed information about borrowings [line items]
Fair value gain on embedded derivative
Glencore Convertible Note
Disclosure of detailed information about borrowings [line items]
Issuance of convertible notes	$ 200,000,000
Borrowings, conversion price (in dollars per share)	$ 9.95
Borrowing costs recognised as expense	$ 1,300,000
Fair value gain on embedded derivative			$ (18,300,000)			$ (11,400,000)
Glencore Convertible Note \| Embedded Derivative
Disclosure of detailed information about borrowings [line items]
Borrowings	46,200,000
Glencore Convertible Note \| Debt Principal
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 153,800,000
Glencore Convertible Note \| LIBOR
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis	5%
Adjustment to paid in kind interest rate	6%
Glencore Convertible Note \| LIBOR \| Floating interest rate
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis	0.42826%
Glencore Convertible Note \| LIBOR \| Minimum
Disclosure of detailed information about borrowings [line items]
Borrowings, variable rate, fixed	1%
Glencore Convertible Note \| LIBOR \| Maximum
Disclosure of detailed information about borrowings [line items]
Borrowings, variable rate, fixed	2%

Convertible Debt - Assumptions

Convertible Debt - Assumptions (Details) $ in Millions	Dec. 31, 2022 USD ($) yr $ / shares	Nov. 30, 2022 USD ($)	Oct. 31, 2022 USD ($) yr $ / shares	Jun. 30, 2022 USD ($)	May 31, 2022 USD ($) $ / shares yr	Dec. 31, 2021 USD ($)	Oct. 31, 2021 USD ($)	Sep. 29, 2021 USD ($) $ / shares yr
Koch Strategic Platforms Convertible Note
Disclosure of detailed information about borrowings [line items]
Amount Issued	$ 110.2		$ 105.9				$ 100	$ 100
Koch Strategic Platforms Convertible Note \| Risk free interest rate
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities	4.2		4.4					1.1
Koch Strategic Platforms Convertible Note \| Expected life of options
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities \| yr	3.8		3.9					5
Koch Strategic Platforms Convertible Note \| Expected dividend yield
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities	0		0					0
Koch Strategic Platforms Convertible Note \| Expected stock price volatility
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities	0.63		0.63					0.66
Koch Strategic Platforms Convertible Note \| Share Price
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities \| $ / shares	4.76		5.96					12.56
Payment in Kind Note
Disclosure of detailed information about borrowings [line items]
Amount Issued	$ 4.3	$ 8.1		$ 4.1		$ 1.8
Glencore Convertible Note
Disclosure of detailed information about borrowings [line items]
Amount Issued	$ 208.1		$ 200		$ 200		$ 0
Glencore Convertible Note \| Risk free interest rate
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities	4.2		4.4		2.9
Glencore Convertible Note \| Expected life of options
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities \| yr	4.4		4.6		5
Glencore Convertible Note \| Expected dividend yield
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities	0		0		0
Glencore Convertible Note \| Expected stock price volatility
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities	0.63		0.63		0.68
Glencore Convertible Note \| Share Price
Disclosure of detailed information about borrowings [line items]
Significant unobservable input, liabilities \| $ / shares	4.76		5.96		8.15

Financial instruments and fin_3

Financial instruments and financial risk factors - Assets measured at fair value (Details) - Recurring fair value measurement - USD ($) $ in Millions	Dec. 31, 2022	Oct. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ 4.3	$ 1.5
Accounts receivable
Disclosure of detailed information about financial instruments [line items]
Financial assets		1.5
Level 2
Disclosure of detailed information about financial instruments [line items]
Financial assets	4.3	1.5
Level 2 \| Accounts receivable
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ 4.3	$ 1.5

Financial instruments and fin_4

Financial instruments and financial risk factors - Liabilities measured at fair value (Details) - Recurring fair value measurement - USD ($) $ in Millions	Dec. 31, 2022	Oct. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	$ 22.5	$ 43.9
Convertible debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	22.5	43.9
Quoted prices in active markets for identical assets (Level 1)
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0	0
Quoted prices in active markets for identical assets (Level 1) \| Convertible debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	0	0
Level 2
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	22.5	43.9
Level 2 \| Convertible debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities	$ 22.5	$ 43.9

Financial instruments and fin_5

Financial instruments and financial risk factors - Narrative (Details)	14 Months Ended
	Dec. 31, 2022
Currency risk \| Currency in which supplementary information is displayed
Disclosure of detailed information about financial instruments [line items]
Sensitivity analysis for types of market risk, reasonably possible change in risk variable, percent	5%

Financial instruments and fin_6

Financial instruments and financial risk factors - Schedule of fair value measurement of price (Details) - USD ($)	Dec. 31, 2022	Oct. 31, 2022
Cobalt
Disclosure of detailed information about financial instruments [line items]
BM&E Metric tonnes subject to fair value pricing adjustments	$ 4,428	$ 4,202
10% increase in prices	800,000	1,100,000
10% decrease in prices	(800,000)	(1,100,000)
Nickel
Disclosure of detailed information about financial instruments [line items]
BM&E Metric tonnes subject to fair value pricing adjustments	4,428	4,202
10% increase in prices	1,400,000	1,000,000
10% decrease in prices	$ (1,400,000)	$ (1,000,000)

Financial instruments and fin_7

Financial instruments and financial risk factors - Schedule of maturity of financial liabilities (Details) - USD ($)	Dec. 31, 2022	Oct. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	$ 601,100,000	$ 570,600,000
Not later than one year [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	84,900,000	55,500,000
Later than one year and not later than two years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	15,400,000	14,500,000
Later than two years and not later than three years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	459,800,000	459,100,000
Later than three years and not later than four years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	41,000,000	41,500,000
Accounts Payable And Accrued Liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	75,900,000	47,500,000
Accounts Payable And Accrued Liabilities \| Not later than one year [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	75,900,000	47,500,000
Accounts Payable And Accrued Liabilities \| Later than one year and not later than two years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Accounts Payable And Accrued Liabilities \| Later than two years and not later than three years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Accounts Payable And Accrued Liabilities \| Later than three years and not later than four years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Lease liabilities
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	78,600,000	76,600,000
Lease liabilities \| Not later than one year [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	8,800,000	8,000,000
Lease liabilities \| Later than one year and not later than two years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	15,300,000	14,300,000
Lease liabilities \| Later than two years and not later than three years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	13,700,000	13,000,000
Lease liabilities \| Later than three years and not later than four years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	40,800,000	41,300,000
Restoration
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	500,000	400,000
Restoration \| Not later than one year [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	200,000	0
Restoration \| Later than one year and not later than two years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	100,000	200,000
Restoration \| Later than two years and not later than three years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Restoration \| Later than three years and not later than four years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	200,000	200,000
Convertible debt
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	318,400,000	300,000,000
Convertible debt \| Not later than one year [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Convertible debt \| Later than one year and not later than two years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Convertible debt \| Later than two years and not later than three years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	318,400,000	300,000,000
Convertible debt \| Later than three years and not later than four years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Convertible Debt interest
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	127,700,000	146,100,000
Convertible Debt interest \| Not later than one year [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Convertible Debt interest \| Later than one year and not later than two years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Convertible Debt interest \| Later than two years and not later than three years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	127,700,000	146,100,000
Convertible Debt interest \| Later than three years and not later than four years [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities at amortised cost	0	0
Cobalt
Disclosure of detailed information about financial instruments [line items]
Market Price Per Tonne of Metals	41,337	53,462
Nickel
Disclosure of detailed information about financial instruments [line items]
Market Price Per Tonne of Metals	$ 30,400	$ 21,710

Commitments (Details)

Commitments (Details) - USD ($) $ in Millions		14 Months Ended
Commitments (Details) - USD ($) $ in Millions	Oct. 31, 2022	Dec. 31, 2022
Commitments [Abstract]
Purchase orders	$ 9.2	$ 9.5

Loss per share - Calculation of

Loss per share - Calculation of Loss per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	2 Months Ended	3 Months Ended
	Dec. 31, 2022	Oct. 31, 2021
Earnings per share [abstract]
Interest income on short-term investments	$ 1.7	$ 3.9
Weighted average number of ordinary shares, basic (in shares)	176	163.2
Earnings per share [line items]
Interest income on short-term investments	$ 1.7	$ 3.9
Weighted average number of ordinary shares, basic (in shares)	176	163.2
Stock options (in shares)	2.1	4
Restricted share units (in shares)	2	0.9
Weighted average number of ordinary shares, diluted (in shares)	180.1	168.8
Loss per common share - basic (in dollars per share)	$ 0.01	$ 0.02
Loss per common share - diluted (in dollars per share)	$ 0.01	$ 0.02
Warrants
Earnings per share [line items]
Convertible debt (in shares)	0	0.7

Segment reporting (Details)

Segment reporting (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended
Segment reporting (Details) - USD ($) $ in Millions	Dec. 31, 2022	Oct. 31, 2021	Oct. 31, 2022
Disclosure of geographical areas [line items]
Non-current assets	$ 265.4		$ 201.4
Revenues	5.9	$ 2.8
Canada
Disclosure of geographical areas [line items]
Non-current assets	38.1		26.8
Revenues	0.9	0.1
United States
Disclosure of geographical areas [line items]
Non-current assets	213		161.4
Revenues	5	2.7
Germany
Disclosure of geographical areas [line items]
Non-current assets	11.6		10.7
Revenues	0	0
Other
Disclosure of geographical areas [line items]
Non-current assets	2.7		$ 2.5
Revenues	$ 0	$ 0

Statement of cash flows, addi_3

Statement of cash flows, additional disclosures (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended	14 Months Ended
	Dec. 31, 2022	Oct. 31, 2021	Dec. 31, 2022	Oct. 31, 2022
Lease liabilities
Notes to the consolidated cash flow [Line Items]
Beginning balance	$ 51.8
Repayment of lease principal			$ (0.5)
Total changes from financing cash flows			(0.5)
New leases			1.8
Foreign exchange gain or (loss)	0.8
Total non-cash changes			2.6
Ending balance	53.9		53.9
Restoration
Notes to the consolidated cash flow [Line Items]
Beginning balance	0.4
Total non-cash changes			0
Ending balance	0.4		0.4
Convertible debt
Notes to the consolidated cash flow [Line Items]
Beginning balance	244.6
Total changes from financing cash flows			0
Accrued interest and accretion	(6.6)
Accrued interest paid in kind	12.4
Total non-cash changes			5.8
Ending balance	250.4		250.4
Conversion feature of convertible debt
Notes to the consolidated cash flow [Line Items]
Beginning balance	43.9
Total changes from financing cash flows			0
Fair value gain/loss on conversion feature of convertible debt	(21.4)
Total non-cash changes			(21.4)
Ending balance	22.5		22.5
Cash	110.6		110.6	$ 269.3
Cash equivalents	407.3		$ 407.3	$ 309
Repayment of lease principal	$ (0.5)	$ (0.6)

Subsequent events (Details)

Subsequent events (Details) - USD ($) $ in Millions	Feb. 27, 2023	Jan. 12, 2023	Dec. 31, 2022	Oct. 31, 2022
Disclosure of non-adjusting events after reporting period [line items]
Sublease agreement signed but not commenced			$ 58.6
Sublease agreement commenced			41.5
Plant and equipment			210.4	$ 147.7
Leasehold improvements
Disclosure of non-adjusting events after reporting period [line items]
Plant and equipment			$ 8.4	$ 8.5
Announcement of Sublease Agreement
Disclosure of non-adjusting events after reporting period [line items]
Sublease agreement signed but not commenced		$ 58.6
Lease term		48 years
Announcement of Sublease Agreement \| Leasehold improvements
Disclosure of non-adjusting events after reporting period [line items]
Plant and equipment		$ 14.5
Entering into significant commitments or contingent liabilities [member]
Disclosure of non-adjusting events after reporting period [line items]
Borrowings, maximum borrowing capacity	$ 375
Borrowings maturity, term	12 years
Borrowings, interest term	10 years