Metallium Secures First Binding E-Scrap Supply Contract With Glencore

Metallium Ltd has signed its first binding feedstock agreement, locking in a year-long supply of electronic scrap from Glencore to support the start-up and expansion of its U.S. recycling operations, the Australian-listed company said in investor disclosures and market filings.

The agreement marks a critical step for Metallium as it moves from pilot work to commercial deployment of its Flash Joule Heating technology, a process the company is betting can help retain high-value electronic waste within the United States rather than sending it offshore.

Electronic scrap supply has become a strategic bottleneck for emerging recycling technologies, particularly in North America, where domestic processing capacity has lagged growth in e-waste generation. Industry data show rising volumes of printed circuit boards linked to shorter replacement cycles in data centres, telecom networks, defence systems and electric vehicle power electronics, much of which has historically been exported for treatment.

Under the contract, Glencore will deliver up to 2,400 metric tonnes of shredded e-scrap per year to Metallium’s U.S. subsidiary, Flash Metals USA, for processing at the company’s Texas Technology Campus. The deal runs initially from January through December 2026 and can be renewed annually by mutual agreement, with scope to increase volumes if both parties agree.

Pricing for recovered metals will be linked to established benchmarks, including LBMA, LME and Fastmarkets MB assessments, with settlement based on seller weights and assays conducted at Glencore’s sampling facility. The contract does not include take-or-pay commitments and allows termination for breach or with three months’ notice ahead of the end of the fixed term.

Company executives described the deal as a validation of Metallium’s technology and U.S. strategy. Observers note that securing consistent feedstock is often more challenging than raising capital for recycling start-ups, particularly when competing with established smelters and exporters for high-grade material.

The agreement builds on a previously announced memorandum of understanding between the two companies and follows technical and commercial collaboration during Metallium’s development phase. The parties are also progressing discussions on a separate binding offtake agreement for metals recovered from the process, Metallium said.

Analysts say the focus on printed circuit boards is commercially significant, given their high concentrations of gold, silver, palladium and copper. Industry groups have long argued that expanding domestic PCB recycling could reduce supply-chain risks for critical metals while lowering emissions linked to overseas processing.

In the near term, Metallium plans to finalize logistics and delivery schedules to support commissioning and early commercial campaigns at its Texas facility. Market participants will be watching whether the company can translate secured feedstock into stable output and long-term offtake, a key test for scaling advanced recycling technologies in the U.S.

Source: Metallium

SUNSHINE Spotlight: The Glencore supply deal gives Metallium the steady e-scrap volumes it needs to move its U.S. recycling technology from commissioning toward commercial scale.