Highlights

  • Metallium has secured a binding agreement with Glencore for the supply of up to 2,400 tonnes per annum of electronic scrap to its U.S. facility.
  • The contract provides multi-year feedstock certainty to support commissioning activities and the scale-up of FJH processing lines.
  • The agreement follows earlier technical and commercial collaboration under a previously announced memorandum of understanding, with a separate offtake agreement progressing.

Metallium Ltd (ASX:MTM) has executed its first binding electronic scrap supply agreement, securing a multi-year source of e-scrap for its U.S. operations. The agreement, signed through its wholly owned subsidiary Flash Metals USA Inc., establishes Glencore Ltd as a contracted supplier and supports the commissioning and expansion of Metallium’s Flash Joule Heating (FJH) processing platform in Texas.

Binding Agreement Establishes Commercial Supply Base

The agreement represents Metallium’s first binding feedstock supply contract and marks its transition from development into commercial commissioning. Under the terms, Glencore will supply shredded electronic scrap to Flash Metals USA Inc. for processing at Metallium’s U.S. Technology Campus in Texas. Annual supply volumes are contracted at 2,400 metric tonnes, subject to a standard tolerance range and agreed delivery schedules.

The initial fixed term runs through 31 December 2026, with provisions for annual extensions by mutual agreement. Pricing for recovered metal content will reference established market benchmarks, including the London Bullion Market Association and London Metals Exchange, depending on the metal recovered.

Supporting Commissioning and Scale-Up of FJH Technology

Secured feedstock supply is a central requirement for stable commissioning and predictable reactor utilisation. The agreement enables Metallium to plan processing campaigns and progress toward multi-line deployment of its Flash Joule Heating technology across the U.S. site.

With contracted volumes in place, the Company can align logistics, scheduling and operational planning during initial commercial-scale runs. Metallium has also confirmed that several additional feedstock supply agreements are currently under negotiation.

Positioning Within the U.S. E-Waste Recycling Market

Printed circuit boards and related electronic waste represent high-value secondary materials containing gold, silver, palladium and copper. U.S. e-waste generation has continued to increase alongside accelerated replacement cycles in data infrastructure, telecommunications and electric vehicle systems.

Historically, a significant portion of this material has been exported due to limited domestic processing capacity. Metallium’s electrically driven FJH platform is designed to process heterogeneous, polymer-rich scrap streams and produce metal-bearing intermediates suitable for downstream refining within the United States.

The Glencore agreement provides a consistent and well-characterised source of PCB-rich feedstock, supporting domestic processing pathways aligned with U.S. supply-chain and industrial policy objectives.

Next Steps

Following execution of the agreement, Metallium will progress delivery scheduling to support commissioning and early commercial campaigns. Negotiations for a separate binding offtake agreement covering recovered metal products are ongoing, with further updates to be provided as milestones are achieved.

MTM shares were trading 10.80% lower at AUD 0.95 per share at the time of writing on 5 January 2025.