LONDON - Technology Minerals Plc (LSE: LON:TM1) has struck a deal through its subsidiary Recyclus Group Ltd with Glencore (OTC:GLNCY) plc, a leader in diversified natural resources, to sell black mass from its lithium-ion battery recycling operations. This agreement, announced on December 17, 2024, allows Recyclus to supply its black mass—a combination of critical metals like lithium, cobalt, nickel, and manganese—to Glencore's European operations.
The arrangement begins with a 100-tonne trial sale, after which the companies will renegotiate commercial terms. This partnership aligns with Recyclus' strategy to distribute black mass to various key markets as it builds its material inventory and marks an expansion of its global reach within the battery recycling industry.
Recyclus, which is 48.35% owned by Technology Minerals, operates an industrial-scale lithium-ion facility in Wolverhampton. The company's proprietary process for converting end-of-life batteries into black mass has achieved a significant recycling rate, contributing to the circular economy for battery metals.
The deal with Glencore follows a previous agreement with LOHUM, an Indian sustainable energy transition metal producer, which has experienced delays due to regulatory clearances between the UK and Indian governments. Glencore's European market presence offers Recyclus an immediate alternative for its black mass sales.
Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, commented on the agreement's significance, stating it underscores the demand for black mass and validates the company's battery recycling processes. He emphasized that the deal is a key milestone in returning critical minerals to the battery supply chain, reflecting the growing commercial traction for their recycling solutions.
This partnership with Glencore is expected to bolster Recyclus' position in the international battery recycling market as the world shifts towards electrification. The information on this new agreement is based on a press release statement from Technology Minerals Plc.
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