Cyclic Materials Signs Multi-Year Deal to Supply Recycled Copper to Glencore

Cyclic Materials, a leader in advanced metals recycling, has signed a multi-year offtake agreement with Glencore, a global natural resources company, to supply copper recovered at its Spoke operations. This strategic partnership aims to enhance sustainability in the rare earth elements (REEs) industry and foster copper circularity, addressing the growing demand for recycled materials critical to the energy transition.

Under the agreement, Cyclic Materials will supply high-quality copper extracted and processed from recycled electronic scrap. Glencore will refine this copper at its Horne Smelter and Canadian Copper Refinery (CCR), converting it into copper cathode for use in new products. Copper, recognized for its exceptional conductivity, is one of eight critical materials essential to technologies driving electrification and energy transition, as identified by the U.S. Department of Energy.

This collaboration underscores both companies’ commitment to reducing environmental impact and waste by promoting responsible resource use. “We share Cyclic Materials’ vision of a circular supply chain for materials needed in the energy transition,” said Kunal Sinha, Glencore’s global head of recycling. “By partnering with Cyclic Materials, we broaden our recycling scope, now incorporating copper from electric motors alongside other materials like battery components. Cyclic Materials addresses a vital market gap with their rare earth recovery solutions, supporting sustainability in critical materials.”

The partnership represents a significant step toward transforming the global recycling approach for critical materials and bolstering supply chain resilience. Recycling valuable materials like copper from electronic waste and industrial byproducts reduces dependence on resource extraction and offsets its environmental footprint.

Ahmad Ghahreman, co-founder and CEO of Cyclic Materials, expressed enthusiasm for the collaboration: “Partnering with Glencore on copper recycling marks a milestone in closing the loop for critical materials. We look forward to expanding our offtake agreements and scaling our operations globally, including opening facilities in the U.S. and Europe to better serve our partners.”

Founded in 2021, Cyclic Materials employs proprietary technologies to economically and sustainably recover critical raw materials from end-of-life electric vehicle motors, wind turbines, MRI machines, and data center electronics. Over the past year, the company has established partnerships with industry leaders such as Solvay, Vattenfall, Synetiq, and VACUUMSCHMELZE to recycle REE-containing magnets and build a circular supply chain. Recently, Cyclic Materials announced a USD $53 million oversubscribed Series B equity round to support its global expansion plans.

This collaboration with Glencore represents a significant advancement in sustainable materials management, addressing critical challenges in the energy transition while reducing environmental impact.