Cyclic Materials |
In a move that underscores the growing emphasis on sustainability in the metals industry, Cyclic Materials and Glencore have entered into a strategic partnership to enhance the circular supply chain for copper in North America. Announced today, this collaboration sees Cyclic Materials, a prominent metals recycler, supplying recycled copper sourced from end-of-life electric motors to Glencore, a major player in global mining and trading.
Advancing Circular Economy in Critical Minerals
The copper will be initially processed at Cyclic's specialized "spoke" plant located in Ontario, Canada. This facility is equipped to handle the breakdown of electric motors, extracting valuable copper which is then sent to Glencore's Horne smelting facility in Quebec. Here, the scrap copper is transformed into copper anodes before undergoing further refinement into copper cathodes at Glencore’s Canadian Copper Refinery near Montreal.
Strategic Expansion and Future Plans
This partnership marks a significant step for Cyclic Materials as it seeks to expand its operations to commercial scale across North America, as well as in the US and Europe. The deal also complements Cyclic’s recent initiatives, including the production of recycled mixed rare earth oxide (rMREO) at its new Hub100 facility in Ontario. Earlier this year, Cyclic also entered into a critical supply agreement with Belgium's chemical group Solvay and secured additional feedstock agreements with Synetiq in England and E-VAC Magnetics in the US, both of which will supply rare earth elements crucial for Cyclic's operations.
While the specifics of the production volumes and financial terms remain undisclosed, the multiyear offtake agreement between Cyclic and Glencore is set to significantly impact the supply chain dynamics for recycled copper and potentially influence broader market trends.
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