Electra Battery Materials (TSX-V:ELBM) has finalised definitive agreements with Invest Ontario for C$17.5 million ($17.57 million) in funding to support construction of its cobalt sulphate refinery in Temiskaming Shores, Ontario.
The funding supports construction of what is expected to be North America’s only battery-grade cobalt sulphate refinery once operational. Construction is advancing with structural steel erection, concrete work, equipment installation, and piping underway.
CEO Trent Mill says Electra is focused on completing North America’s first cobalt sulphate refinery and creating the long-term employment and economic activities that come with it.
“We are grateful to Invest Ontario and the Government of Ontario for their continued partnership on this strategic asset,” Mill says.
“Ontario brings together a rich mineral endowment, a highly skilled workforce, abundant renewable energy, and more than a century of natural resources expertise.
“This project leverages those advantages to establish essential critical mineral processing capacity that strengthens North America’s supply security.”
Select commissioning activities are targeted to begin in Q4 2026, followed by mechanical completion in Q2 2027. Meanwhile, Electra says full commissioning and production ramp-up is scheduled for Q3 2027, with commercial production expected in Q4 2027.
The brownfield facility is designed to initially produce 5,120 tonnes annually of contained cobalt, with crystalliser nameplate capacity of up to 6,500 tonnes annually.
Electra has secured 100% of the cobalt feedstock required for commissioning and ramp-up through 2027 under a previously reported extended supply agreement with Glencore (LON:GLEN). The agreement provides for approximately 10,000 tonnes of contained cobalt over five years and establishes Glencore as a long-term supplier through 2031.
Minister of Economic Development, Job Creation, and Trade Vic Fedeli says the project will strengthen Ontario’s critical mineral processing capacity while generating economic benefits for Northern workers.
“At a time when secure supply chains have never mattered more, Electra’s cobalt refinery will onshore a key capability needed to support North America’s manufacturing sectors,” Fedeli says.
Electra Battery Materials is focused on constructing North America’s only cobalt sulphate refinery. It also holds a significant land package in Idaho’s Cobalt Belt, including its Iron Creek Project and surrounding properties.
Write to Paula Fabe at Mining.com.au
Images: Electra Battery Materials
