Electra Battery Materials (TSX-V, Nasdaq: ELBM) is on track to start construction of its cobalt sulphate refinery in Ontario, North America’s first, within months and commission the plant in 2027 as it benefits from a resurgent metal price.
Cobalt markets have improved after the Democratic Republic of Congo, the world’s largest producer with about three-quarters of global output, started export quotas in December to boost prices.
Electra may eventually consider expanding the future plant at Temiskaming Shores 500 km north of Toronto, Heather Smiles, vice president of corporate development and investor relations, said at The Northern Miner’s International Metals Symposium this month in London.
“One thing we’ve considered is, could we add a second facility for recycling,” Smiles told Northern Miner Editor-In-Chief Colin McClelland. “We’ve also got the opportunity in Idaho, an exploration stage asset today, but with the political environment and the geopolitical support for onshoring of critical minerals, there’s an opportunity there for Idaho to become a North American producer of cobalt as well.”
Watch the full conversation below.
This Joint Venture video is PROMOTED CONTENT sponsored by Electra Battery Metals and produced in cooperation with The Northern Miner.
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