Electra Battery Materials' cobalt refinery construction remains within US$73 million budget
ELBM•Electra Battery Materials said construction of its Ontario cobalt sulfate refinery remains within its US$73 million budget. The site workforce reached 130, while piping work is creating schedule pressure that may require a modest adjustment.
1. Construction progress
The site workforce reached 130, up from approximately 60 in August, and civil works on the tailings storage facility are approximately 40% complete. Solvent extraction piping fabrication and installation are creating schedule pressure; any required schedule adjustment is expected to be modest.
2. Supply and commitments
Glencore’s agreement secures all commissioning and ramp-up feedstock through 2027, with long-term supply through 2031. Approximately 60% of planned cobalt sulfate production through 2029 is committed to LG Energy Solution under a March 2026 binding term sheet.
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