The information contained within
this announcement is deemed to constitute inside information as
stipulated under the retained EU law version of the Market Abuse
Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's
obligations under Article 17 of the UK MAR. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
24 February 2025
Technology Minerals
Plc
("Technology Minerals" or the
"Company")
TFS licence approved for sale
of black mass
First delivery under the
black mass offtake agreement with Glencore to be shipped to Europe
in March 2025
Technology Minerals Plc (LSE: TM1),
the UK's pioneering firm in establishing a circular economy for
battery metals, is pleased to announce that its 48.35% owned
battery recycling business, Recyclus Group Ltd ("Recyclus"),
has secured a Transfrontier Shipment of Waste ("TFS") licence for
the transportation of black mass to Europe under its offtake
agreement with Glencore plc ("Glencore"), announced on 17 December
2024.
Recyclus will commence shipping the
black mass in March following the agreement to sell black mass to
Glencore's European network and operations.
Black mass is produced at Recyclus'
industrial-scale lithium-ion ("Li-ion") battery recycling facility
and contains valuable metals such as lithium, manganese, nickel,
and cobalt that can be reprocessed and sold back into the battery
supply chain. Black mass represents a highly valuable commodity in
the recycling industry and is a key revenue stream for the
recycling facility.
The TFS licence is required under
government regulations to allow companies to legally move waste
across borders internationally. This is to ensure that the
management, transportation, disposal and recovery of waste is
addressed in an environmentally friendly approach.
Robin Brundle, Chairman of Technology Minerals and Director of
Recyclus, said: "We are delighted to
have received the required approvals to sell black mass under our
agreement with Glencore. The first 100 tonnes shipment of black
mass to Europe is scheduled for March and represents a landmark
moment for Recyclus. To secure an agreement with a partner as
renowned as Glencore is a strong endorsement of Recyclus'
technology and the quality of black mass we produce, and we look
forward to building on our partnership with them."
Enquiries
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Technology Minerals Plc
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Robin Brundle, Executive
Chairman
Alex Stanbury, Chief Executive
Officer
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c/o +44 (0)20 4582 3500
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Oberon Investments Limited (Broker)
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Nick Lovering, Adam
Pollock
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+44 (0)20 3179 0500
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Gracechurch Group (Financial PR)
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Harry Chathli, Alexis Gore, Rebecca
Scott
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+44 (0)20 4582 3500
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Technology Minerals Plc
Technology Minerals is developing
the UK's first listed, sustainable circular economy for battery
metals, using cutting-edge technology to recycle, recover, and
re-use battery technologies for a renewable energy future.
Technology Minerals is focused on raw material exploration required
for Li-ion batteries, whilst solving the ecological issue of spent
Li-ion batteries, by recycling them for re-use by battery
manufacturers. Further information on Technology Minerals is
available at www.technologyminerals.co.uk.
Recyclus Group Ltd
The demand for the raw materials
used in battery manufacturing is anticipated to increase
substantially. Recyclus Group provides a national recycling
initiative that supports the transition to carbon neutrality.
Recyclus Group's battery recycling capacity will prove essential in
the shift from fossil fuels to electric transportation. Through its
strategic support from Technology Minerals, Recyclus is an integral
component to the recycling of lithium-ion and lead acid batteries
and is a significant contributor towards the circular economy for
battery metals. Further information on Recyclus Group is available
at https://www.recyclusgroup.com/.
