Latest news with #ElectraBatteryMaterials
The Market Online
19 hours ago
- Business
- The Market Online
North America's lone cobalt refinery begins path to production
Electra Battery Materials (TSXV:ELBM) has initiated its early works program towards restarting North America's only cobalt refinery Electra is a critical minerals company focused on cobalt sulfate refining, nickel refining and battery recycling for the North American lithium-ion battery market Electra Battery Materials stock has given back 38.56 per cent year-over-year Electra Battery Materials (TSXV:ELBM) has initiated its early works program towards restarting North America's only cobalt refinery. The battery-grade facility, located north of Toronto, employs hydrometallurgical processing with a low-carbon focus, and could play a potentially meaningful role in onshoring North America's critical metals supply chain and increasing the continent's stake in the growing US$17 billion cobalt market, which is expected to post a 6.7 per cent compound annual growth rate through 2030. The early-works program, which will cost an estimated C$750,000, will focus primarily on the refinery's solvent extraction (SX) facility, including: Installing previously delivered processing equipment. Pouring reinforced concrete bases for extraction tanks. Finalizing roofing work. Concurrently, tender and engineering preparations are underway to streamline the path to full-scale construction. These activities follow a C$200,000 upgrade to the refinery's septic, power and lighting systems, as well as the recent delivery of a prefabricated electrical house. The restart is partially supported by US$20 million from the U.S. Department of Defense under the Defense Production Act, awarded in August 2024, in addition to funding from Canada's Strategic Innovation Fund. According to Thursday's news release, 'backed by strong government endorsements and the refinery already significantly advanced, Electra expects it will be able to finalize the balance of the financing required to move the refinery into production.' Leadership insights 'The early works program represents a critical step in transitioning the refinery site back to construction mode,' Mark Trevisiol, vice president of Projects at Electra Battery Materials, said in a statement. 'By focusing on key infrastructure, particularly in the SX area, we are ensuring the site is ready for a seamless ramp-up as soon as full funding is in place.' 'This project reflects our disciplined approach to advancing the refinery project,' commented Electra's chief financial officer, Marty Rendall. 'The early works program enables us to build critical infrastructure and maintain project momentum while we work to finalize the remaining elements of our funding package.' 'Our early works program is a clear signal: Electra is not standing still,' added Trent Mell, Electra's CEO. 'The early works program lays the physical and operational groundwork to accelerate into full construction. We are confident in our project and its strategic importance. Preparing for the final leg of construction is a reaffirmation of our commitment to delivering North America's only battery-grade cobalt refinery.' About Electra Battery Materials Electra is a critical minerals company focused on cobalt sulfate refining, nickel refining and battery recycling for the North American lithium-ion battery market. Electra Battery Materials stock (TSXV:ELBM) opened unchanged trading at C$1.45. The stock has given back 38.56 per cent year-over-year. Join the discussion: Find out what everybody's saying about this critical metals company on the Electra Battery Materials Corp. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
2 days ago
- Business
- Yahoo
Electra Battery Materials price target lowered to $2.20 from $2.40 at H.C. Wainwright
H.C. Wainwright analyst Heiko Ihle lowered the firm's price target on Electra Battery Materials (ELBM) to $2.20 from $2.40 and keeps a Buy rating on the shares following the recent announcement that a feasibility level engineering study covering the construction of a modular battery recycling facility has been completed. The firm expects this facility to recover lithium, nickel, cobalt, manganese, and graphite from lithium-ion battery manufacturing scrap and end-of-life batteries while using Electra's proprietary hydrometallurgical process, the analyst tells investors in a research note. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on ELBM: Disclaimer & DisclosureReport an Issue Electra and Three Fires Group Advance Indigenous-Led Battery Recycling in Canada Electra Battery Materials, Three Fires advance Aki Battery joint venture Electra Advances Battery Recycling with New Facility Feasibility Study Electra Battery completes feasibility study on battery recycling facility Electra Supports Ontario's $500M Critical Minerals Fund Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
08-06-2025
- Business
- CTV News
Electra completes study for Ontario battery recycling hub
Electra Battery Materials has completed a feasibility-level engineering study for a modular battery recycling facility to be built near its cobalt sulphate refinery in northern Ontario. Aerial view of Electra Ontario Refinery An undated image of an aerial view of Electra Battery Materials' Ontario refinery in Cobalt, Ont. (Supplied/Electra Battery Materials) The facility will use Electra's proprietary hydrometallurgical process to recover lithium, nickel, cobalt, manganese, and graphite from lithium-ion battery scrap and end-of-life batteries. The process was validated during a year-long pilot program treating black mass supplied by an industry partner. Funded in part by Natural Resources Canada, the next phase will test continuous and semi-continuous operations to simulate commercial-scale output. Recovered cobalt will feed directly into Electra's nearby cobalt sulfate refinery, currently under construction, while other materials will re-enter the battery supply chain. Interior view of Electra Ontario Refinery An undated image of an interior view of Electra Battery Materials' Ontario refinery in Cobalt, Ont. (Supplied/Electra Battery Materials) 'We are advancing a clear pathway to a closed-loop, domestically sourced battery materials supply chain,' said Trent Mell, Electra's CEO, in a news release last week. 'This integration strengthens North America's energy security and positions Electra as a first mover in the continent's emerging battery ecosystem.' rent Mell An undated promotional photo of Trent Mell, CEO of Electra Battery Materials. (Electra Battery Materials) The project aligns with Electra's partnership with Aki Battery Recycling, a majority Indigenous-owned joint venture with the Three Fires Group, which will supply shredded battery scrap. 'Through Aki, we are building a robust pipeline to process battery manufacturing scrap and end-of-life batteries that can be converted into value-added materials right here in Ontario,' Mell added. Electra plans to share study results with battery manufacturers and automakers to gauge interest in offtake agreements and scale adjustments. The study was conducted with Green Li-ion, whose modular technology forms the basis of the recycling process. Electra black Mass project An updated photo of an Electra employee working on the company's black mass project. (Supplied/Electra Battery Materials) The initiative supports efforts to reduce reliance on foreign critical mineral processing, particularly amid China's dominance. Electra's refinery has received funding from the Canadian and U.S. governments, reflecting its strategic role in military and energy storage applications. Electra 1 Electra Battery Materials south of Temiskaming Shores is North America's first cobalt sulphate refinery capable of producing battery-grade materials for lithium-ion batteries. (File photo/Eric Taschner/CTV News Northern Ontario) Aki Battery Recycling is developing a shredding facility to supply black mass, combining Indigenous economic participation with secure feedstock for Electra's operations.
CBC
12-03-2025
- Business
- CBC
Cash-strapped cobalt refinery in northern Ont. hopes to relaunch in the spring
Social Sharing It's been a bumpy ride for Northern Ontario's Electra Battery Materials, a company set to become the only cobalt refinery in North America. A difficult financial situation forced a slowdown at the Temiskaming Shores plant recently, with construction coming to a grinding halt in 2023. Last year the company received $20-million from the U.S. Department of Defense as part of a national security initiative aiming to secure critical mineral supply chains. Still, more investors are needed to finish building the facility. CEO Trent Mell is tentatively optimistic that the funding could come together in the next few weeks despite geopolitical shifts like the U.S.-Canada trade war. "We've got a strategic partner willing to put in $20-million," said CEO Trent Mell. "We don't need much, we're talking $80-million and this thing's in production." Mell declined to say if the funding package will involve some U.S.-based investors. He said his company was receiving a lot of government support from Ontario and Canada. "We have a lot of allies that want to see us succeed." Export ban on raw cobalt won't be an issue: CEO Once completed, Electra Battery Materials' refinery is set to process raw cobalt from the Democratic Republic of the Congo (DRC). That country recently imposed a four-month export ban on the material, but Mell doesn't think that will hurt his company. "We've seen this before in the DRC. It's the largest producer of mined cobalt in the world. It's a way for them to manage prices and royalties… it usually gets resolved fairly quickly," he said. Prices for cobalt have been increasing steadily since the DRC imposed its export ban. "That's great for our Western supply chain trying to build in a stronger commodity price environment," said Mell. If the refinery re-opens in the spring as planned, that will mean about 150 new jobs in northern Ontario. "That's a lot of contractors, from Sudbury to North Bay to Temiskaming Shores," said Mell. "It'll be a regional push." Dozens were let go in the fall of 2023 when construction slowed down at the plant.
