Neometals Limited (ASX: NMT), an emerging sustainable battery materials producer, has successfully executed a binding offtake agreement with Glencore International AG for its Vanadium Recovery Project (VRP1). The agreement guarantees the offtake of 100% of vanadium products produced by VRP1. This partnership with Glencore, a leading commodities producer and marketer, highlights the market demand for high-purity, carbon-neutral vanadium pentoxide (V2O5) derived from European Union (EU) raw materials.
Neometals' subsidiary, Novana Oy, will enter into the offtake agreement with Glencore, with Neometals holding a 72.5% ownership stake in the joint venture company, Recycling Industries Scandinavia AB (RISAB), and Critical Metals Ltd holding the remaining 27.5% stake. Glencore's expertise in vanadium operations, particularly at the Rhovan Mine in South Africa, will contribute valuable technical knowledge to the project. This significant development solidifies Neometals' position as a sustainable battery materials producer.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
