Nth Cycle Signs $1.1 Billion Offtake Agreement with Trafigura for Nickel and Lithium Supply
Nth Cycle has entered a 10-year, $1.1 billion offtake agreement with Trafigura to supply nickel and lithium carbonate. The deal was signed during the Trump Administration's Indo-Pacific Energy Security Forum in Tokyo. Nth Cycle plans to expand operations in South Carolina and the Netherlands, utilizing its Oyster refining technology, with production expected to start in 2028. The agreement aims to strengthen U.S. and European supply chains for critical minerals, supported by federal initiatives and a €7.5 million grant from the National Growth Fund.
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Nth Cycle signed a 10-year binding agreement with Trafigura valued at $1.1 billion for the supply of nickel and lithium carbonate, marking a significant milestone in recycled material supply chains. Under the agreement, Trafigura will purchase 2,000 tonnes of nickel and 1,500 tonnes of lithium carbonate refined from 12,000 tonnes of black mass.
Nth Cycle plans to expand its operations to South Carolina and the Netherlands, beginning production in 2028. The expansion is supported by a €7.5 million grant from the National Growth Fund under the CRM Lion initiative, aiming to enhance local supply chains for critical minerals.
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