Glencore announces global marketing relationship with United States Strategic Metals (formerly 'Missouri Cobalt')
New York, New York USA
9 February 2022
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 sulfates, 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.”
For further information please contact:
t: +41 41 709 28 80
m: +41 79 737 56 42
t: +41 41 709 24 62
m: +41 79 904 33 20
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
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. We 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. We are an active participant in the Extractive Industries Transparency Initiative. Our ambition is to be a net zero total emissions company by 2050.
About United States Strategic Metals
US 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.
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.