Electra Battery Materials has been awarded a $5 million grant by the Canadian government to construct North America’s inaugural cobalt sulphate refinery. The facility, slated for Temiskaming Shores in Ontario, is anticipated to generate sufficient cobalt annually for the batteries of approximately 1.5 million electric vehicles.
The company asserts that once operational, the plant will contribute approximately five percent of the global supply of battery-grade cobalt. However, specific details regarding the construction and commissioning timeline are yet to be disclosed by Electra.
In a demonstration of its capabilities, Electra showcased a pilot plant at its refinery complex last year, following its announcement two years prior. The demonstration involved processing over 40 tonnes of black mass and extracting high-quality nickel, cobalt, and lithium products.
Notably, Electra secured a supply agreement with LG Energy Solution in 2022, with the volume extended to 19,000 tonnes in 2023. The cobalt sulphate is expected to be delivered in early 2025. The strategic rationale behind this agreement is attributed, in part, to Electra’s unique position as the sole supplier capable of refining cobalt sulphate in North America.
Trent Mell, CEO of Electra, highlighted Canada’s ascendancy as a key player in the global battery supply chain, owing to its prowess in raw materials mining and processing. He emphasized the significance of the government’s support in reinforcing a robust domestic electric vehicle (EV) supply chain.
Jonathan Wilkinson, Minister of Energy and Natural Resources, underscored the economic opportunities presented by fostering a low-carbon economy in Canada. He emphasized the country’s abundant critical mineral resources, pivotal for the development of clean technologies such as electric vehicles, and expressed confidence in Electra’s role in driving sustainable economic growth across various communities in Canada.
