What's Happening?
Electra Battery Materials has restarted construction of its cobalt sulphate refinery in Ontario, Canada, after securing $82 million in project financing. The refinery, located in Temiskaming Shores, is set to become North America's first facility of its kind,
producing 6,500 tonnes of battery-grade cobalt sulphate annually. The project is fully financed through equity and government support, with feedstock secured from Glencore and the Eurasian Resources Group.
Why It's Important?
The refinery will enhance North America's lithium-ion battery manufacturing capabilities, supporting domestic industrial, defense, and energy storage supply chain resilience. It represents a significant step in onshoring midstream processing, reducing reliance on foreign sources, particularly China. The project aligns with government and private sector efforts to strengthen North America's position in the global battery market.
What's Next?
Electra plans to prepare the site for full-scale construction in early 2026, with commissioning targeted for 2027. The company will issue updates on final costs, timelines, and execution milestones, ensuring transparency and progress. The successful completion of the refinery will position Electra as a key player in the North American battery supply chain.
