Finance
Electra Refinery Construction Remains on Budget as Workforce Doubles
Electra Battery Materials Corporation published a progress update on its cobalt sulfate refinery under construction in Temiskaming Shores, Ontario.
Key takeaways
- Mechanical equipment is installed in the crystallizer and commissioning validation is underway.
- Glencore AG agreement secures 100% of cobalt hydroxide feedstock needed for commissioning and ramp-up through 2027.
- Approximately 60% of planned cobalt sulfate production through 2029 is committed to LG Energy Solution.
- The refinery is designed to process 18,000 tonnes of feed per year to produce 5,120 tonnes of contained cobalt.
Electra Battery Materials Corporation published a progress update on its cobalt sulfate refinery under construction in Temiskaming Shores, Ontario. Mechanical equipment is now installed in the crystallizer while solvent extraction and commissioning validation advance. The company highlighted existing commercial agreements with Glencore AG for feedstock supply, LG Energy Solution for production off-take, and a term sheet with WMC Group AG. Designed to process 18,000 tonnes of feedstock annually, the facility aims to yield 5,120 tonnes of contained cobalt per year.
In their words
“Every area of the site is active, and the focus is moving from infrastructure to equipment.”
By the numbers
- 18,000
- tonnes of cobalt hydroxide feed per year
- 5,120
- tonnes per year of contained cobalt
- 60%
- planned cobalt sulfate production through 2029 committed to LG Energy Solution
How it unfolded
- LG Energy Solution term sheet signed
- Glencore AG agreement announced
- WMC Group AG term sheet announced
- Electra provides refinery construction update
Turn stories like this into views
Ravenclip finds the Finance news, makes the video, and posts it before attention moves on.
Common questions
- What happened with Electra Battery Materials Corporation?
- Mechanical equipment is installed in the crystallizer and commissioning validation is underway.
- Where can I read the original report?
- Read the full report at Financial Post.
