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Metallium (ASX:MTM) has executed a Memorandum of Understanding with a subsidiary of Glencore, one of the world’s largest recyclers of end-of-life electronics and batteries. The agreement sets the foundation for a potential long-term collaboration in feedstock supply and metal offtake for Metallium’s U.S. operations.
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Under the MOU, Glencore will serve as a major supplier of electronic scrap to Metallium’s first commercial facility in Texas. This arrangement supports Metallium’s Stage One target of processing 8,000 tonnes per year of inbound printed circuit board material, with scope for additional volumes in future growth. Glencore will also provide technical services such as assaying for incoming feedstocks.
On the offtake side, Glencore has agreed to purchase up to 75% of Metallium’s marketable recycled products, which include metallic metals, metal chlorides, and metal hydroxides. Specialty products such as gallium, germanium, indium, and rare earth elements are excluded, allowing Metallium to market these independently.
The MOU grants Glencore exclusivity over the negotiated offtake volumes and remains in effect until December 31, unless extended or replaced by a definitive agreement.
Metallium CEO and managing director, Michael Walshe, described the MOU as a “defining milestone” for the company. He said the collaboration validates Metallium’s Flash Joule Heating (FJH) technology and U.S. expansion strategy, while providing feedstock security and offtake certainty.
“This agreement secures critical feedstock supply, covers a significant share of Stage One requirements, and supports our planned expansion,” Walshe explained.
Strategically, the MOU strengthens Metallium’s plan to develop a national e-waste network across the U.S. near collection hubs, data centres, and industrial corridors. The company’s hub-and-spoke model is designed to scale capacity, reduce costs, and enhance domestic supply of critical and precious metals.
For Metallium, the partnership has several benefits:
- Locked-in supply for Stage One operations through Glencore’s global network.
- A pathway to expand volumes as operations scale.
- A secured offtake channel with a global recycling leader.
- Validation of its proprietary FJH technology with a major player.
Metallium and Glencore intend to finalise a binding agreement by December 31. The companies also indicated potential discussions for a broader global partnership, leveraging Glencore’s global recycling footprint.
MTM heads into Thursday’s trade selling at $1.14.
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