Critical minerals producer US Strategic Metals (USSM) has signed a preliminary agreement with European trading firm Glencore and Chilean Cobalt (C3) to process cobalt and copper intermediate products from C3's La Cobaltera project in Chile, C3 has said.
The partnership involves processing C3's critical minerals from La Colbatera at USSM's site in Missouri in the US.
The three firms expect that a significant part of the product stream will be shipped to the US and/or countries with which the US has a free trade agreement, which does not include China.
The deal will support an Americas-focused critical minerals supply chain in a bid to compete with Chinese firms.
C3 signed an initial agreement in July with Glencore over an offtake agreement for copper and cobalt products, and a partnership, at La Cobaltera. The latest announcement, on 12 September, includes an initial agreement for USSM to process C3's products.
And USSM last month received a non-binding letter of interest from the US Export-Import Bank (Exim) concerning a 15-year, $400mn loan for USSM's Missouri-based mining and metallurgical project.
USSM said its Missouri project will produce cobalt, nickel, lithium and copper on a flexible basis for the US' energy transition and other strategic needs, which may include aerospace.
