Metallium (ASX:MTM) targets definitive agreements with Traxys by 31 December 2026 after signing a non-binding memorandum of understanding (MoU) to evaluate US critical metals supply chains.
The agreement pairs Metallium’s Flash Joule Heating (FJH) technology with Traxys’ sourcing, marketing, and trade finance capabilities. Metallium says linking feedstock, offtake, and financing could reduce the capital required during scale-up.
Effective 16 October 2026 through 30 November 2027, the MoU carries no signing fees, share issues, or binding offtake, financing, or investment commitments. Either party may terminate the agreement with 30 days’ written notice.
Under the terms, wholly owned subsidiary Flash Metals USA is subject to an exclusivity period barring discussions on alternative collaborations within the MoU’s scope until 31 December 2026. Traxys faces no equivalent restriction.
The MoU does not allocate production, and future offtake will account for existing third-party commitments.
The companies will assess six commercial areas across magnetic rare earths, gallium, germanium, indium, tungsten, titanium, copper, nickel, magnesium, manganese, and platinum group metals.
These include feedstock sourcing, processing and tolling, marketing and offtake, price hedging, offtake-linked prepayments and working capital facilities, and potential strategic investment.
Traxys is a Luxembourg-headquartered physical commodity trader with an annual turnover exceeding US$10 billion ($14.2 billion) across more than 65 commodities.
Metallium notes that Traxys’ role as a supplier to the US Government-backed project Vault is separate from the MoU and confers no supplier status, purchasing commitment, or government funding on Metallium.
Managing Director Michael Walshe says America’s critical metals security depends on “being able to process materials into usable products on American soil”.
“We want to progress the strongest opportunities first, while retaining the broader framework to develop additional transactions,” Walshe says
Metallium is an industrial technology company and mineral explorer pioneering its FJH technology. It specialises in the sustainable recovery of critical, precious, and rare earth metals from e-waste, semiconductor waste, and ores.
Write to Paula Fabe at Mining.com.au
Main image: Metallium
