Electra Battery Materials signs term sheet with WMC for five-year cobalt working-capital partnership
ELBM•Electra Battery Materials signed a non-binding term sheet with WMC for a five-year working-capital and commercial partnership for its Canadian refinery. WMC would buy and exclusively market cobalt sulfate volumes up to nameplate capacity and has committed to invest once definitive agreements are executed.
1. Proposed cobalt partnership
The proposed arrangement is intended to finance cobalt feedstock purchases and support battery-grade cobalt sales as the refinery moves toward production. WMC would provide logistics, marketing support, market expertise and access to its global network, alongside Electra’s existing supply deal with LG Energy Solution.
