Glencore Enters Global Marketing Relationship with United States Strategic Metals
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Glencore has entered a strategic global marketing relationship with United States Strategic Metals. The marketing relationship includes a long term off-take agreement for 100 percent of the company’s products, which include cobalt and nickel sulfates, lithium products and copper cathode, with a significant embedded pre-payment.
Additionally, Glencore and U.S. Strategic Metals are exploring other commercial arrangements, including a recycling and raw materials sourcing agreement to support the ramp-up of U.S. Strategic Metals’ hydrometallurgical processing facility.
“We are excited to partner with U.S. 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,” said Ash Lazenby, U.S. Cobalt Marketing at Glencore.
“We are delighted to welcome Glencore, one of the world’s leading producers and marketers of physical commodities, as our commercial partner. U.S. 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,” said Stacy W. Hastie, CEO of U.S. Strategic Metals.
Missouri Cobalt has changed the name of its parent company to United States Strategic Metals to better reflect the company’s positioning as an emerging domestic supplier of strategic metals vital to the clean energy transition. U.S. Strategic Metals products are the foundation of lithium-ion batteries essential for the electric vehicles required to combat climate change. The name change more clearly communicates the company’s broader, long-term objective of becoming the leading domestic supplier of materials essential to decarbonizing global energy demand.
About Glencore
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly sourced commodities that advance everyday life. The Group’s operations comprise around 150 mining and metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore’s industrial activities are supported by a global network of more than 30 marketing offices. Glencore’s customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing, and oil sectors. They also provide financing, logistics, and other services to producers and consumers of commodities. Glencore’s companies employ around 135,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. They are an active participant in the Extractive Industries Transparency Initiative. Glencore’s ambition is to be a net zero total emissions company by 2050.
To stop by Glencore’s website, CLICK HERE
About United States Strategic Metals
U.S. Strategic Metals is the only vertically integrated cobalt and nickel producer in North America and is strategically positioned to supply clean, domestic and ethically sourced battery metals required to meet the unprecedented demand for electric vehicles and lithium-ion batteries. The Company has announced that it is in the final stages of constructing a proprietary hydrometallurgical processing facility which will allow it to begin production of large-scale quantities of battery-grade products starting in Q3 2022, becoming North America’s premier responsible source for strategic minerals.
To stop by United States Strategic Metals’ website, CLICK HERE
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