With this agreement, Electra says it has sufficient cobalt hydroxide feed material to meet all of the refinery’s annual capacity for up to 6,500 tonnes of cobalt per year. Once fully commissioned, the refinery, expected to be the first of its kind in North America, could produce sufficient cobalt for up to 1.5 million electric vehicles annually.
The objective of Electra’s refinery project is to address the onshoring requirements of the electric vehicle battery supply chain. The DRC represents approximately 75% of global cobalt production, and 90% of this cobalt is destined for EV batteries. Most of this material is being refined in China, which controls roughly 80% of the cobalt chemicals market.
ERG’s cobalt has a low carbon footprint as it is produced from historic tailings and the electrical grid used across their facilities is primarily hydroelectric. Its cobalt hydroxide product is an intermediate product from mining…
