One and One Green Technologies (NASDAQ:YDDL) experienced a 29% share increase Friday morning following a corporate announcement that outlined a new Luzon Copper-Gold ore tailings slag recovery business in the Philippines.
The company said it will partner with small-scale mining companies operating in the mineral-rich Luzon region to obtain copper-gold ore tailings slag. Material acquired through these partnerships is planned to be processed at One and One's main plant and prepared for export to overseas markets.
Industry estimates cited by the company underscore the potential market backdrop for the initiative. The International Copper Study Group has estimated a 150,000 metric ton copper supply deficit in 2026. One and One described the joint venture as designed to address a tightening global copper market through an integrated procurement-smelting-export approach.
One and One, a Philippines-based recycler, holds a government-issued license to import and process hazardous waste as raw materials. The company said it will use its existing licenses, proprietary technology and industrial chain synergy to address a perceived gap in the large-scale recovery of copper-gold ore tailings slag within the Philippines.
The company also referenced longer-term supply projections. S&P Global projects a copper supply imbalance of 10 million metric tons by 2040, driven by energy transition, electrification, and expansion of AI data centers. One and One indicated the project will allow it to capture value from both recycled copper and primary tailings slag sources.
"By partnering with local small-scale miners, we are unlocking a new source of valuable copper and gold, creating a powerful synergy with our core recycling business," said Ms. Tina Yan, Chairman and CEO of One and One.
The announcement links the company’s recycling capabilities and regulatory permissions with a sourcing strategy focused on tailings slag, and positions the venture as an integrated supply and processing operation with export intent. The firm did not provide additional operational timelines or detailed production forecasts in the statement accompanying the share movement.
Summary of developments
One and One's Luzon recovery venture pools small-scale miner partnerships, licensed recycling capacity and export plans to tap copper and gold contained in ore tailings slag, amid industry estimates of both near-term and long-term copper supply shortfalls.