Cyclic Materials, a cleantech company focused on metals recycling, has struck a multi-year deal with Swiss mining giant Glencore to supply recycled copper.
The collaboration is a step forward in making copper production more sustainable and meeting the skyrocketing demand for materials essential to clean energy technologies.
Cyclic Materials extracts copper from recycled electronic scrap – think EV motors and wind turbines – and refines it for reuse. The copper (Reuters reports at least 10,000 metric tons) will then go to Glencore’s Horne Smelter and Canadian Copper Refinery, where it’ll be turned into copper cathode. That refined copper can find a new life in technologies driving the energy transition, like EVs and renewable energy systems.
Instead of mining more raw materials, which is time-consuming, costly, and can be controversial, the two companies are tapping into what’s already out there – an approach that reduces waste and minimizes environmental impact.
Kunal Sinha, Glencore’s global head of recycling, praised the deal: “Cyclic Materials is filling a critical gap in the market. Their focus on rare earth recovery is exactly what we need to build a circular supply chain for critical materials.”
Cyclic Materials CEO Ahmad Ghahreman called the agreement a milestone: “We are excited to be partnering with Glencore on the recycling of copper materials. This is a significant milestone in establishing key partners to purchase our recycled materials and close the loop for all critical materials we will produce.”
The first shipments of recycled copper are expected to start in late 2025.
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