North Cobalt's Electra Battery Materials Refinery Gets Significant Funding
This 5 million dollar investment will enable Electra Battery Materials Corporation to continue the recommissioning and expansion of its hydrometallurgical cobalt refinery in North Cobalt. The facility will be the first facility of its kind in North America. Once complete, the refinery will be capable of producing cobalt for up to 1.5 million electric vehicles annually. Provided through FedNor’s (REGI) program, this strategic investment builds on the Government of Canada’s initial investment of $5 million in 2020.
With one of the largest concentrations of mining and related businesses in Canada, Northern Ontario’s mining industry is a key economic driver that fuels social and economic growth, while creating jobs and opportunities for families throughout the region.
Anthony Rota, Member of Parliament for Nipissing–Timiskaming, today announced that the Government of Canada is investing $5 million to support the continued expansion of Electra Battery Materials Corporation’s cobalt refinery in North Cobalt.
Trent Mell, President & CEO, Electra Battery Materials Corporation says, “Canada has surpassed China as the top jurisdiction in the global battery supply chain, given its strength in raw materials mining and processing.
