HOUSTON, October 26th (Argus) - Flash Metals USA (FMUSA), an American subsidiary of the Australian-based metal recycling company Metallium, announced today that it has signed a non-binding memorandum of understanding with the trading company Traxys to assess processing opportunities for critical metals in the United States.
According to Metallium, the "top priority" for FMUSA and Traxys is to determine the priority order of raw materials and products, assess the economic feasibility of processing, and negotiate potential supply commitments. The goal of both companies is to negotiate at least one final commercial agreement by the end of this year.
Under the terms of the memorandum of understanding, there is no guarantee that Traxys will have any supply commitments.
The two companies will evaluate several rare metals - including gallium, germanium, and indium - as well as rare earths, copper, nickel, and platinum group metals.
Metallium is developing a process using its proprietary flash Joule heating process to recover these metals from semiconductor waste and electronic waste and other waste materials.
The memorandum of understanding came into effect on October 16th. Unless extended or cancelled, it will be extended until November 30th, 2027. The company stated that Flash Metals USA will not be allowed to discuss new business partnerships with other companies until the end of 2026.
Metallium also signed a binding purchase agreement with Indium Corp. and signed a memorandum of understanding with Glencore last year.
