Electra extends Glencore cobalt hydroxide supply deal through 2031
ELBM•Supply agreement extended through 2031
- Electra extended its cobalt hydroxide feed purchase agreement with Glencore through Dec. 31, 2031.
- The deal secures 100% of the feedstock needed to commission and ramp up its Ontario cobalt sulfate refinery through 2027.
- The extension covers about 10,000 metric tonnes of contained cobalt over five years, valued at over USD 500 million at current prices.
- The refinery targets mechanical completion in 2027 and is designed for 5,120 tonnes a year of contained cobalt, with crystallizer nameplate capacity up to 6,500.
- An LG Energy Solution term sheet includes a firm commitment for about 60% of planned cobalt sulfate output through 2029, with an option to extend to 2032.
