AMG Advanced Metallurgical Group has signed an agreement to supply 100% of its available ferrovanadium production to Glencore.
Under the multimillion agreement, AMG will supply ferrovanadium from both the existing and the future facilities of the company in Ohio.
The company’s unit AMG Vanadium is involved in the conversion of oil refinery and power plant waste products into ferrovanadium, nickel and molybdenum, which are primarily used by global steel producers in automotive, infrastructure, and energy transmission applications.
By using waste materials, AMG Vanadium creates energy conservation and resource recovery in accordance with the company’s CO2 reduction strategy.
AMG produces highly engineered speciality metals and mineral products, in addition to providing associated vacuum furnace systems and services to the transportation, infrastructure, energy and speciality metals markets.
The company has operations across Germany, the UK, France, the Czech Republic, the US, China, Mexico, Brazil, India, Sri Lanka and Mozambique. It has sales and customer service offices in Russia and Japan.
Glencore produces and markets more than 90 commodities and has over 150 mining and metallurgical sites, as well as oil production assets and agricultural facilities.
With an established footprint across various regions for natural resources, the company’s industrial and marketing activities are supported by more than 90 offices across 50 countries.
Last month, Glencore announced that it is set to provide a $5m loan facility to First Cobalt to help the latter complete metallurgical testing and permitting associated with the expansion of the First Cobalt Refinery in Ontario, Canada.