Falcon Copper and Glencore International have signed a memorandum of understanding (MoU) to work together on critical minerals projects aimed at bolstering the supply chain in the US.
The agreement creates a non-exclusive framework for both companies to collaborate on global projects that supply copper and other essential minerals to the US market.
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Under this partnership, Glencore plans to deliver up to 1.6 million tonnes per annum (mtpa) of copper concentrate to Falcon’s proposed smelting and refining facilities in the country.
This move seeks to ensure that copper concentrate, intermediate metals and finished products are processed domestically or delivered within the US, reinforcing national supply chains.
The MoU specifies that Falcon may serve as an operator or investor, while Glencore may provide support with capital, logistics, marketing and offtake arrangements.
Each project will have its own specific structure, tailored on a case-by-case basis.
The agreement, though non-binding, includes standard clauses regarding confidentiality, compliance and dispute resolution.
Falcon Copper executive chairman Travis Naugle said: “This agreement is a meaningful step toward building a secure, end-to-end US copper supply chain.
“Pairing Glencore’s scope and size with Falcon’s international production of critical minerals and its smelting project in Arizona helps close a critical gap in America’s mineral infrastructure.”
In March this year, Centaurus Metals finalised a binding offtake agreement with Glencore to supply nickel concentrate from the Jaguar Nickel Sulphide Project in Brazil.
Under the terms of the agreement, Centaurus will provide 20,000 dry tonnes of high-grade nickel concentrate annually, delivering 6,400t of nickel each year to Glencore.
