TEMISKAMING SHORES, ONT. — Electra Battery Materials is planning to invest nearly $100 million to establish a battery-grade cobalt sulfate refinery in Temiskaming Shores, Ont.
The refinery will be the first of its kind in North America, explains a release.
Electra’s operations will create local jobs and see Temiskaming Shores become a key hub in Ontario’s critical mineral processing efforts. It will be the only processor in North America for cobalt sulphate, which is a necessary component in the creation of lithium-ion batteries.
In support of the facility, Ontario is investing $17.5 million through the Invest Ontario Fund.
“We are grateful to the Government of Ontario for its commitment to building a made-in-Ontario critical minerals supply chain,” said Trent Mell, CEO of Electra, in a statement. “This support from Invest Ontario is a key endorsement of the strategic importance of our refinery, not just for the province, but for Canada and North America as a whole. Together, we are reducing reliance on offshore supply, enabling a cleaner energy future, and strengthening Ontario’s position as a hub for battery materials innovation.”
Once fully operational, the refinery will support the production of nearly 6,500 tonnes of cobalt annually.
