(TEMISKAMING SHORES, ON) Electra Battery Materials Corporation has completed financing for North America's first cobalt sulphate refinery in Temiskaming Shores, in the heart of Nipissing - Timiskaming riding.
"The refinery will create jobs here in our riding, bring long-term investment to our region, and continue its proud mining heritage. It will contribute to Building Canada Strong, " said MP Pauline Rochefort.
The milestone builds on the Government of Canada's March 21 announcement of a $20 million Letter of Intent to support the refinery's completion and commissioning. With commitments now secured from the government and investors, the project is now ready to move forward with construction.
The refinery is a flagship asset that will be the first of its kind in North America. As a fully permitted and construction-ready project, the refinery will strengthen the region’s battery and defense supply chains, playing a critical role in reshoring cobalt processing, a capability that the Canadian government has identified as essential to national security and industrial resilience.
“Today, more than 90 percent of global cobalt sulfate production comes from China,” said Electra CAO Trent Mell. “Establishing a resilient, transparent, and domestically controlled supply chain is essential for our most critical industries including automotive, defense, energy and infrastructure. Electra is proud to be part of the solution to strengthen North American supply security.”
The project will create over 50 permanent roles once operational, with many more positions expected during the construction phase, according to Electra.
"It's an exciting step toward a stronger critical minerals industry and a cleaner, more sustainable future, powered by Northern Ontario," added MP Rochefort.
For more information about the project, see the full Electra Media Release .