Current refinery configuration, to be used for large-scale battery recycling demonstration. Reference image by Electra Battery Materials.
Electra Battery Materials has announced a conditional contribution from the federal government to support completion of North America’s first and only cobalt sulfate refinery, located in the town of Temiskaming Shores in Northern Ontario.
To date, Electra has arranged $54 million in non-dilutive funding, including $34 million in government support – comprised of both a binding contract and a non-binding letter of intent – and a $20 million strategic investment proposal. In 2023, Electra estimated the capital cost to complete the cobalt refinery at $60 million, excluding first fills and commissioning costs. Additional non-dilutive funding options are in active development.
“Canada, with its abundance of critical mineral resources, is uniquely positioned to play…
