Today, Flash Metals USA, a subsidiary of Metallium Limited (“Metallium”) (ASX: MTM; OTCQX: MTMCF), has executed a Memorandum of Understanding (“MOU”) with a subsidiary of Glencore plc (LSE: GLEN), one of the world’s largest diversified resource companies and a major recycler of end-of-life electronics, lithium-ion batteries, and other critical metal-containing products.

The MOU creates a framework for a potential long-term collaboration in electronic scrap supply and metal offtake in the United States. The commercial agreement is subject to the negotiation and execution of final definitive agreements. 

KEY HIGHLIGHTS:

• Feedstock supply: Glencore will be a major supplier of feedstock to Flash Metals USA’s first commercial facility in Texas, committing electronic scrap toward Flash Metals USA’s Stage 1 target of 8,000 tonnes/year inbound printed circuit board (PCB) tonnage, with scope to expand volumes as the Company advances to future stages of growth. 

• Technical assistance: Glencore will provide technical services for incoming feedstocks including assaying.

• Offtake: Glencore will purchase up to 75% of Flash Metals USA’s production of marketable recycled products, including metallic metals, metal chlorides and metal hydroxides. 

• Specialty metals excluded: Flash Metals USA retains the option to independently market high-value niche products such as gallium, germanium, indium and rare earth elements. 

• Exclusivity: Glencore holds exclusive negotiation rights over the to-be-contracted offtake volumes under the MOU, which is effective immediately and runs until 31 December 2025, unless the MOU is extended or replaced by definitive agreements. 

• The agreement follows a site visit by a senior Glencore technical representative to Flash Metals USA’s Houston-area facility earlier this month and sets the framework for a long-term collaboration.

Flash Metals USA, a Metallium Company, Managing Director & CEO, Michael Walshe, commented: “Executing an MOU with Glencore marks a defining milestone for Flash Metals USA. Glencore ranks among the world’s most successful diversified natural resource companies, and its Horne Smelter in Quebec is North America's largest processor of electronic scrap containing copper and precious metals. For Flash Metals USA to be directly engaged at this level validates the strength of our Flash Joule Heating technology and our U.S. expansion model.”

“This agreement secures critical feedstock supply, covers a significant share of our Stage 1 requirements, and supports our planned expansion to Stage 2. It positions Flash Metals USA alongside one of the most influential players in global recycling as we build a national network of plants near major collection hubs and data center corridors, with both parties working toward executing a definitive binding agreement by 31 December.”

STRATEGIC SIGNIFICANCE FOR FLASH METALS USA 

For Flash Metals USA, being engaged with Glencore is a powerful validation of the Company’s proprietary Flash Joule Heating (FJH) technology and its U.S. growth model. The partnership has the potential to deliver: 

• Feedstock certainty: Locks in a material portion of Stage-1 supply, underpinned by Glencore’s global collection and trading network. 

• Scalable growth: Provides a pathway to expand supply as Flash Metals USA scales production beyond the Stage-1 target.

• Commercial offtake security with a major recycler of end-of-life electronics, lithium-ion batteries and other critical metal-containing products. 

• Global potential: While the immediate focus is on the U.S. market, the parties are open to discussing a global agreement with Glencore, leveraging its international recycling footprint. 

• Validation: Positions Flash Metals USA’s FJH technology alongside one of the most influential players in the circular economy. 

• Next milestone: Clear intention to execute a binding agreement with Glencore by 31 December 2025. 

FLASH METALS USA’S U.S. ROLL-OUT STRATEGY 

The MOU supports Flash Metals USA’s plan to develop a national network of e-waste processing facilities, strategically located near: 

• Major e-waste collection hubs, 

• Rapidly expanding U.S. data center industrial parks, and 

• Regional industrial corridors with strong logistics and waste generation. 

This hub-and-spoke model will enable Flash Metals USA to rapidly scale capacity, reduce costs, and provide a resilient domestic supply of critical and precious metals. 

About Glencore 

Glencore is one of the world’s largest diversified natural resource companies, producing and marketing more than 60 commodities across metals, minerals, and energy products. With vertically integrated operations spanning mining, processing, and global marketing, Glencore has a presence in over 35 countries. Glencore is also a global leader in e-waste trading and recycling, leveraging its network of marketing offices and smelting facilities to source end-of-life electronics and complex scrap from more than 30 countries. Its Horne Smelter in Quebec - North America’s largest recycler of end-of-life electronics - has been processing electronic scrap since the mid-1980s, and today Glencore’s recycling division handles around 100,000 tonnes of e-waste annually, having recycled more than one million tonnes since the 1990s. This capability, integrated with its trading and logistics platform, makes Glencore one of the most influential players in the circular economy for critical and precious metals.

About Flash Metals USA

Flash Metals USA is a subsidiary of Metallium Ltd (ASX: MTM; OTCQX: MTMCF), an Australian-based company advancing sustainable mineral recovery and critical materials innovation. Flash Metals USA is pioneering advanced metal recovery solutions through its exclusive partnership with Rice University and the innovative Flash Joule Heating (FJH) process. The cutting-edge FJH process enables rapid, efficient extraction of materials such as lithium, gold, and gallium, reducing energy use and waste compared to traditional methods. By setting new industry standards for environmental responsibility and operational efficiency, Flash Metals USA is helping drive the transition to a more sustainable and circular economy.