Nth Cycle Enters $1 Billion Battery Recycling Supply Deal With Glencore
US-based metals refining company Nth Cycle has signed a $1 billion ten-year offtake agreement with Swiss mining giant Glencore to supply lithium and other critical minerals extracted from recycled batteries. Under the deal, Glencore will provide approximately 24,000 tonnes per annum (tpa) of shredded battery material—known as black mass—to Nth Cycle for processing using its electrochemical technology. The processed materials include lithium carbonate and a nickel-rich mixed hydroxide product to be supplied back to Glencore over the next decade. The contract value is based on metals prices from Q2 2026, with actual delivery volumes dependent on mineral content in the black mass received. Nth Cycle recently secured a $100 million grant from the US Department of Energy and plans to build a commercial refining facility by 2029. The deal supports Glencore's circular economy goals while accelerating critical minerals supply chain development in the United States.
Topics: battery recycling critical minerals lithium extraction sustainability