Glencore has entered a strategic global marketing relationship with United States Strategic Metals, LLC. The marketing relationship includes a long term off-take agreement for 100% of the Company’s products, which include cobalt and nickel sulphates, lithium products and copper cathode, with a significant embedded pre-payment.
Additionally, Glencore and US Strategic Metals are exploring other commercial arrangements, including a recycling and raw materials sourcing agreement to support the ramp-up of US Strategic Metals’ hydrometallurgical processing facility.
Ash Lazenby, US Cobalt Marketing at Glencore commented: “We are excited to partner with US Strategic Metals and support them in becoming a leading domestic supplier of battery metals critical to combating climate change and realising the energy transition. We look forward to working collaboratively with the US Strategic Metals team and leveraging our complimentary skill sets.”
Stacy W. Hastie, CEO of U.S. Strategic Metals commented: “We are delighted to welcome Glencore, one of the world’s leading producers and marketers of physical commodities, as our commercial partner. US Strategic Metals will benefit from Glencore’s strong customer relationships across the electric vehicle supply chain, including global auto OEMs and battery manufacturers. Additionally, proceeds from the pre-payment will allow us to accelerate the construction and commissioning of our hydromet facility.”