Home / Business and Economy / Nth Cycle, Trafigura Ink $1.1B Deal for Battery Metals
Nth Cycle, Trafigura Ink $1.1B Deal for Battery Metals
16 Mar
Summary
- A 10-year agreement will supply nickel and lithium to Trafigura.
- The deal is valued at approximately $1.1 billion.
- Nth Cycle's refining operations will expand to South Carolina and the Netherlands.
Nth Cycle, a critical metals refining company, has secured a 10-year binding offtake agreement with commodities trader Trafigura. This substantial deal, valued at approximately $1.1 billion, involves the supply of nickel and lithium carbonate.
The agreement, finalized recently, is set to deliver 2,000 tonnes of contained nickel and 1,500 tonnes of lithium carbonate annually. These materials will be refined from black mass, a processed battery material containing essential critical minerals.
This partnership will fuel Nth Cycle's planned expansions, establishing new refining facilities in South Carolina and the Netherlands by 2028. These facilities will utilize the company's modular Oyster refining system, enhancing domestic critical mineral processing capabilities.
Nth Cycle's Netherlands project is notably supported by a 7.5 million euro grant from the CRM Lion initiative, underscoring international efforts to diversify and strengthen global battery supply chains.
