Mitsubishi Materials Corp. is acquiring a minority stake in Elemental USA E-Waste & ITAD Inc., expanding its e-scrap recycling footprint in North America as the Japanese metals producer shifts focus toward secondary raw materials.
The Tokyo-based company will purchase common shares representing 19% voting rights, plus preferred shares that can be converted to boost ownership to 49% pending regulatory approval, according to a company statement Thursday. The deal, which names no purchase price, is expected to close Jan. 22, 2026.
Elemental USA E-Waste is the US holding company for Poland-based Elemental Holding SA’s American e-waste operations, which include Colt Recycling LLC. That subsidiary processes roughly 18,000 tonnes of electronic waste annually across four facilities.
The investment complements Mitsubishi Materials’ earlier stake in Exurban Limited, a startup developing a secondary smelter in Indiana. Together, the moves aim to build an integrated supply chain from e-scrap collection through metal recovery—a strategy outlined in the company’s medium-term plan through fiscal 2029.
Global e-waste volumes are projected to surge as data center construction accelerates and device replacement cycles shorten. However, tightening international regulations on cross-border shipments of circuit boards under the Basel Convention may complicate sourcing for Japanese processors, according to Nikkei Asia.
Mitsubishi Materials said the transaction will have immaterial impact on current-year earnings.
