Lifezone Metals and Glencore Launch Joint Venture for PGM Recycling Project

Initial Phase of the Recycling Project Commences

Lifezone Metals, in a joint venture with a subsidiary of Glencore, has initiated Phase 1 of a significant recycling project for platinum group metals (PGMs), including platinum, palladium, and rhodium. This development follows the signing of the Subscription Agreement and the completion of funding for this initial phase.

Chris Showalter, CEO of Lifezone Metals, announced the partnership, highlighting the utilization of Lifezone Metals' hydrometallurgical technology. The initial phase of the project, already in progress, involves a pilot program conducted in Lifezone Metals’ laboratories in Perth, Australia. This phase aims to confirm the viability and effectiveness of the proposed recycling process.

The estimated cost for the confirmatory pilot project is $3 million, with Lifezone Metals and Glencore each contributing $1.5 million. Following the successful completion of Phase 1, anticipated in the first half of 2024, Phase 2 will commence. This next phase involves both companies jointly funding the capital expenditures required to build a commercial-scale PGM recycling facility in the United States.

This joint venture represents a significant step in sustainable metal recovery and recycling. The project not only aligns with environmental sustainability goals but also positions Lifezone Metals and Glencore at the forefront of technological advancements in PGM recycling. The successful implementation of this project could set a precedent for similar recycling initiatives in the metals industry.