A memorandum of understanding between the two companies sets up the potential for long-term e-scrap supply and recovered metals offtake. | Photo courtesy Glencore Canada
The US subsidiary of Australia’s Metallium signed a memorandum of understanding (MOU) with metals and mining giant Glencore to explore a long-term agreement for e-scrap feedstock supply and recovered metals offtake.
The two companies aim to finalize a binding agreement by the end of the year, Metallium CEO Michael Walshe said in a statement. Houston-based Flash Metals USA, a division of Metallium, is accelerating its US expansion, announcing three new sites in recent months.
The agreement covers a significant share of Metallium’s initial feedstock requirements “and supports our planned expansion to Stage 2, positioning Metallium alongside one of the most influential players in global recycling as we build a natural network of plants near major collection hubs and data center corridors,” Walshe said.
Under the MOU, Glencore will be a major feedstock supplier to Metallium’s new Texas facility, and will provide assaying and other technical services for incoming feedstocks. Glencore is a major recycler of electronics and lithium-ion batteries, and its Horne smelter in Quebec is North America’s largest processor of e-scrap containing copper and precious metals.
Glencore will also buy up to 75% of Metallium’s recycled products, including metals, metal chlorides and metal hydroxides, although Metallium would retain the option to market higher value products including gallium, germanium, indium and rare earths.