Name of the Project
Cobalt sulphate refinery.

Location
Temiskaming Shores, Ontario, Canada.

Project Owner/s
Minerals company Electra Battery Materials Corporation, formerly First Cobalt.

Project Description
The cobalt sulphate refinery is expected to have an installed capacity of 6 500 t/y of cobalt.

At full capacity, the refinery could produce enough cobalt sulphate to supply more than one-million electric vehicles (EVs) a year. The project’s modular design is able to grow with the EV market.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
The previous 2023 re-baseline estimate of $60-million is being updated to reflect inflationary impacts and work already completed. Electra intends to provide a further market update in January 2026, providing greater visibility into final cost, an accelerated schedule and execution milestones.

Planned Start/End Date
Commissioning is slated for 2027.

Latest Developments
Work is progressing on the project, which aims to become the only facility of its kind in North America as demand for battery materials rises.

The project has progressed past the detailed engineering stage, with procurement and installation activities continuing in line with the construction schedule and the recently approved $73-million budget.

Mechanical completion of the refinery remains targeted for the second quarter of 2027. Commissioning is expected to start ahead of schedule, with production ramp-up also planned for 2027.

Electra Battery Materials Corporation VP of projects and engineering Paolo Toscano has said early works are largely complete, including important infrastructure installations and engineering milestones, placing the project in a strong position to advance to the next construction phase.

Among the engineering milestones reached are the completion of the fire suppression system design and the piping and instrumentation design, which are now being incorporated into the refinery’s three-dimensional plant model. Tailings testwork to support the detailed design of the storage facility has also been completed.

Construction activities on site include the installation of effluent tanks, the positioning of raffinate tanks and structural work in the solvent extraction circuit, in addition to earlier infrastructure work such as pipe racks and power upgrades.

Electra has also made progress on procurement, issuing purchase orders for several process systems, including control systems, filters and clarification equipment, under contracts worth about C$1.9-million. Most of the major mechanical and electrical equipment has been secured and delivered, helping to lower supply chain risk.

When operational, the refinery is expected to produce battery-grade cobalt sulphate for the electric vehicle and energy storage sectors, supporting efforts to localise critical minerals supply chains in North America.

Separately, the company received a notice from Nasdaq on March 16 stating that it was not meeting the minimum bid price requirement of $1 a share.

Electra has said the notice has no immediate effect on trading. The company has until September 14, 2026, to regain compliance, with the option of a further 180-day grace period if needed. It is also assessing ways of addressing the requirement, with its indicating that the notice does not affect its TSX-V listing or its operations.

Key Contracts, Suppliers and Consultants
Ausenco Engineering Canada (independent feasibility study); Knight Piésold (geotechnical drilling); Story Environmental (permit to take water); Metso Outotec (design and manufacturing of solvent extraction cells, as well as technical support for the layout of a new solvent extraction plant and its process control); and EXP (construction management support).

Contact Details for Project Information
Electra Battery Materials Corporation, tel+1416900 3891 or email info@ElectraBMC.com.