This thesis presents a techno-economic assessment of an industrial hydrometallurgical process for the recovery of valuable metals from lithium-ion battery black mass. With the growing number of spent lithium-ion batteries due to the fast-growing demand for electric mobility and energy storage systems, recycling technologies need to be assessed not only from a technical and environmental point of view, but also from an economic perspective. Although there is a broad range of studies on process efficiency and environmental aspects in the literature, there is a lack of transparent and structured economic models for industrial-scale black mass refining. This thesis fills this research gap by providing a process-costing framework that combines capital expenditure (CAPEX), operating expenditure (OPEX), and financial performance indicators in a techno-economic model.