Metallium Ltd (ASX:MTM) has signed its first binding feedstock supply contract, with its US subsidiary Flash Metals USA Inc. executing a binding electronic-scrap (e-scrap) supply agreement with Glencore Ltd.
Under the agreement, Glencore will supply up to 2,400 tonnes per annum of e-scrap into Metallium’s US operations, supporting commissioning and scale-up of the company’s Flash Joule Heating (FJH) technology platform at its Texas Technology Campus.
The deal follows technical and commercial collaboration under a previously announced memorandum of understanding, with the parties also progressing a separate binding offtake agreement.
“This is a defining moment for Metallium. Our first binding supply agreement gives us exactly what every processing technology company needs most: consistent, secure, high-quality feedstock. Glencore’s commitment allows us to commission and scale with confidence, and it’s a strong validation of our FJH technology and U.S. strategy. We look forward to building on this relationship as we finalise the complementary binding offtake agreement,” Metallium managing director & CEO Mr Walshe said.
Material terms and commercial settings
The supply agreement is dated December 31, 2025 and covers shredded electronic scrap supplied by Glencore to Flash Metals USA Inc., with no material conditions precedent.
The contract term runs from January 1, 2026, to December 31, 2026, with annual extensions on an evergreen basis by mutual agreement. Supply volumes are set at 2,400 metric tonnes ±5%, with the ability to expand volumes subject to agreement between the parties.
Pricing for recovered metal content will reference recognised market benchmarks, including LBMA, LME and Fastmarkets MB, with settlement based on seller weights and assays at Glencore’s sampling facility.
The agreement does not include take-or-pay obligations and provides standard termination rights, including termination for material breach and termination by either party with three months’ notice prior to the end of the fixed term.
E-waste and PCB recycling context
Metallium highlighted printed circuit boards (PCBs) as a high-value recycling stream due to elevated concentrations of metals such as gold, silver, palladium and copper.
The company noted that US PCB scrap generation continues to increase alongside replacement cycles for data centres, telecommunications infrastructure, defence electronics and electric vehicle power systems, with much of this material historically exported due to limited domestic processing capacity.
Metallium is positioning its FJH platform as a modular, domestic processing solution for PCB-rich waste streams.
Next steps
Near-term priorities include finalising delivery schedules and logistics to support commissioning and initial commercial-scale processing campaigns, alongside progressing a separate binding offtake agreement for metals recovered through the FJH process.