Glencore goes to bat for Aussie vanadium players
Neometals (ASX: NMT) has signed an initial five-year agreement with Glencore for all saleable vanadium bearing products from its Vanadium Recovery Project (VRP1).
The deal, done through its indirectly-owned entity, Novana Oy, which is a unit of Recycling Industries Scandinavia AB, whereby Neometals holds 72.5% ownership and Critical Minerals holds 27.5% stake, automatically renews in two-year increments unless otherwise chosen.
Neometals managing director Chris Reed says this offtake agreement represents a significant milestone as it “further emphasises the anticipated future need for high-purity materials in the market”.
“This is supported by significant expected demand from the vanadium redox flow battery sector and other potential high-purity applications,” he added.
The delivery period begins on 1 January 2026 and, through a joint steering committee, Glencore will provide technical expertise during the initial phases of VRP1 development, including advice and analysis.
Glencore has deep vanadium operating experience through the Rhovan mine in South Africa.
Neometals’ vanadium recovery project aims to produce high-purity vanadium pentoxide from slag processing.
The company has a planned 9,000tpa operation in Pori, Finland, courtesy of a 10-year slag supply agreement with SSAB and a memorandum of understanding (MoU) with H2Green Steel for a potential second, larger operation in Boden, Sweden.
 has signed an initial five-year agreement with Glencore for all saleable vanadium bearing products from its Vanadium Recovery Project (VRP1).){kind=link}