TORONTO, Dec 11 (Reuters) - Canadian rare earth and

metals recycler Cyclic Materials Inc. will supply at least 10

thousand metric tones of recycled copper to Glencore ( GLCNF ) as

the Swiss miner looks to secure copper that is expected to soar

in demand in the coming years, Cyclic Materials' CEO said.

As part of a multi-year agreement, Cyclic Materials will

sell copper scrap to Glencore ( GLCNF ), which will process and refine the

metal at its Horne smelter and Copper Refinery in Quebec to turn

it into copper cathodes. The Horne smelter is North America's

largest recycler of copper and precious metals, according to

Glencore ( GLCNF ).

Ahmad Ghahreman, co-founder and CEO of Cyclic Materials told

Reuters that reducing the carbon footprint of copper and reusing

metals are an important conversation among mining companies.

The call for copper is poised to surge in coming years due

to its role in electric vehicles, renewable energy and data

centers for artificial intelligence.

Demand is expected to outstrip supply by 1.7% in 2035, and

copper prices have scaled to record highs this year. It takes at

least 10 years and as much as $5 billion to build a copper mine

from scratch. Even if companies do build mines there are other

challenges with social capital as seen with opposition to mining

by local communities from Panama to Serbia.

Cyclic Materials, which recycles rare earths and copper from

end-of-life electric vehicle motors, wind turbines, MRI

machines, and data center electronic scrap, is expected to start

delivery by the end of 2025.

Though the financial deals of the agreement are still

confidential, Ghahreman said they have benchmarked to the price

of high grade scrap copper which is at a small discount to the

LME copper price.

Three-month copper on the London Metal Exchange is

currently trading just above $9,200 per metric ton.

Kunal Sinha, Global Head of Recycling at Glencore ( GLCNF ), said in a

statement this partnership broadens the scope for the company's

recycling activities in this field as it will receive copper

materials from additional sources.