Canada invests $20M in Electra's cobalt refinery to boost North American battery supply chain

Electra Battery Materials Corporation secured a $20 million investment from the Canadian government to complete its cobalt sulfate refinery in Ontario, set to be North America's only battery-grade cobalt refinery. This funding supports construction and commissioning, aiming for production start in 2027 with an initial capacity of 5,120 tonnes annually. The project is strategic for localizing critical mineral processing, creating jobs, and strengthening the domestic battery materials supply chain, with most output contracted to LG Energy Solution. Electra plans to expand into battery recycling and nickel sulfate production, aligning with North American policies to reduce reliance on foreign supply chains and support clean energy transitions.