Technology Minerals inks black mass offtake deal with Glencore
Published: 09:03 17 Dec 2024 GMT
Technology Minerals PLC (LSE:TM1)’s 48%-owned subsidiary, Recyclus Group has signed a black mass offtake agreement with Glencore PLC (LSE:GLEN).
Under the agreement, Recyclus will supply black mass, produced at its industrial-scale lithium-ion facility in Wolverhampton, to Glencore’s European operations.
Sales will commence with a 100-tonne trial phase, after which commercial terms will be reassessed.
The deal aligns with Recyclus’ strategy to engage with multiple geographical partners and expand its market presence.
It also provides an accessible route to the European market, complementing a previously announced agreement with LOHUM in India, where regulatory delays have slowed progress.
Black mass contains essential metals such as lithium, nickel, manganese, and cobalt, which can be reprocessed and reintroduced into the battery manufacturing supply chain.
Recyclus’ recycling process has achieved notable success in recovering these critical minerals.
Robin Brundle, chairman of Technology Minerals and director of Recyclus, said: “This marks another key milestone in our mission to return the critical minerals needed to power a sustainable transition to the battery supply chain.
“As the second agreement of this nature with an international partner, the deal is a strong endorsement for our battery recycling processes and demonstrates the demand for black mass.
“Commercial traction for our recycling solutions continues to increase, and the agreement further underscores our potential to build international trading partners as the world shifts to electrification.”
