Technology Minerals PLC (LSE:TM1) shares advanced in Monday morning's trade after its 48.35%-owned battery recycling firm, Recyclus Group, secured a Transfrontier Shipment of Waste (TFS) licence.
It allows Recyclus to transport black mass materials to Europe under its offtake agreement with Glencore.
"We are delighted to have received the required approvals to sell black mass under our agreement with Glencore," said Robin Brundle, Technology Minerals chair and Recyclus director.
“The first 100 tonnes shipment of black mass to Europe is scheduled for March and represents a landmark moment for Recyclus.
“To secure an agreement with a partner as renowned as Glencore is a strong endorsement of Recyclus' technology and the quality of black mass we produce, and we look forward to building on our partnership with them."
The black mass material is produced at the company's lithium-ion battery recycling facility and contains lithium, manganese, nickel, and cobalt, which can be reprocessed and sold back into the battery supply chain.
In London, Technology Minerals shares were up around 16% changing hands at 0.12p each, valuing the company at just under £3 million.