Ontario, Canada-based Electra Battery Materials has restarted construction of its North America cobalt sulphate refinery after securing approximately $82m (C$115.63m) in project financing.
This brownfield expansion puts Electra on track to complete “North America’s first” cobalt sulphate refinery, located north of Toronto in Temiskaming Shores.
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The project has permits and infrastructure in place, major equipment on site and is backed by a fully funded capital programme.
Electra CEO Trent Mell said: “We have been building toward this moment for several years. Today, government support, private investment and industrial policy are aligned to make completion of this refinery possible and to deliver a critical asset for North America.
“With the right team in place and a clear mandate, we are committed to driving this project through to completion. Once operational, this refinery will prove that midstream processing can be successfully onshored, creating a foundation for future growth.”
Electra has enlisted EXP to provide construction management support for the construction reactivation execution work.
Work has commenced to advance site preparations, reinstate mechanical, electrical and instrumentation systems, and maintain project momentum through the winter.
Workforce levels are expected to rise substantially following the award of major mechanical, electrical and instrumentation contracts.
The company is reassessing the construction schedule and capital costs.
Electra plans to issue another update in January on final costs, an accelerated timeline and execution milestones.
It plans to prepare the site for full-scale construction in early 2026.
Once commissioned, the refinery will be North America’s only cobalt sulphate production facility.
It will also be one of two major facilities outside China equipped to produce 6,500 tonnes of battery-grade cobalt sulphate per year for lithium-ion battery manufacturing and domestic industrial, defence and energy storage supply chain resilience.
Construction and commissioning are fully financed through equity announced in October 2025, supplemented by government support.
It has secured commitments totalling around $48m in non-dilutive funding from three levels of government including the US Department of War (August 2024), the Government of Canada (March 2025) and Invest Ontario (September 2025).
Electra has an offtake arrangement with LG Energy Solution and has secured feedstock from Glencore and the Eurasian Resources Group to produce high-purity cobalt sulphate for tier-1 battery cell manufacturers.
Electra vice-president projects & engineering Paolo Toscano said: “This builds on the significant progress already achieved. Our focus is on disciplined execution, including completing detailed engineering, issuing key tenders and ramping up site activity ahead of broader construction mobilisation early next year.
“With infrastructure and equipment already in place, the restart of construction represents a major milestone for Electra. Our priorities remain safety, quality and delivering the project on schedule as we target commissioning in 2027.”
