Exclusive Report - Nth Cycle Signs $1 Billion Mineral Offtake Agreement with Glencore Ahead of Public Listing

Ernest Scheyder

Reuters, September 22 - Metal refining startup Nth Cycle has signed a $1 billion offtake agreement to supply Glencore GLEN.L with lithium and other critical minerals extracted from recycled batteries. The deal was reached ahead of the company's planned initial public offering (IPO) later this year.

Reuters was the first to report the agreement, which was signed on Tuesday at Glencore’s office in New York, coinciding with the United Nations General Assembly, as critical minerals are becoming increasingly important in global trade negotiations.

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