Electra Resumes Construction of North America’s First Cobalt Sulphate Refinery

Electra Advances Cobalt Sulphate Refinery Project in Ontario

Electra Battery Materials has resumed construction of its cobalt sulphate refinery in Temiskaming Shores, Ontario, after securing approximately $82 million (C$115.63 million) in new project financing. This milestone positions Electra to complete North America’s first cobalt sulphate refinery, a critical step toward strengthening the regional battery materials supply chain.

The brownfield project already has the required permits and infrastructure in place, along with major processing equipment on-site. Backed by a fully funded capital program, Electra’s expansion underscores Canada’s growing role in battery materials independence. CEO Trent Mell stated that government support, private capital, and industrial policy now align to enable the project’s completion. “Once operational, this refinery will prove that midstream processing can be successfully onshored,” Mell said.

Construction Momentum Builds Ahead of Full-Scale Operations

Electra has appointed EXP to provide construction management support as work resumes. Meanwhile, the company has restarted site preparation and reinstatement of mechanical, electrical, and instrumentation systems to maintain project progress. As a result, workforce levels will rise sharply once key construction contracts are awarded later this year.

In addition, the company is reviewing its project schedule and cost structure, with a detailed update planned for January 2026. Furthermore, Electra aims to complete site preparation for full-scale construction in early 2026 and begin commissioning in 2027. Once operational, the refinery will produce 6,500 tonnes of battery-grade cobalt sulphate per year, supplying lithium-ion battery manufacturers and strengthening North American energy security.

Moreover, funding for the project includes around $48 million in non-dilutive support from the U.S. Department of War, the Government of Canada, and Invest Ontario. In addition, the company secured further financing through equity investments announced in October 2025. Meanwhile, Electra holds an offtake agreement with LG Energy Solution and feedstock supply deals with Glencore and Eurasian Resources Group, ensuring a stable and diversified input pipeline.

Finally, Vice President of Projects and Engineering Paolo Toscano confirmed that Electra will continue disciplined execution. “Our focus is on completing detailed engineering, issuing tenders, and ramping up activity for construction mobilization next year,” he said.

SuperMetalPrice Commentary:

Electra’s restart of its cobalt sulphate refinery project represents a pivotal moment for North America’s battery materials landscape. By aligning government funding with private investment, Electra positions itself as a cornerstone of the continent’s critical minerals strategy. With cobalt supply chains still concentrated in China, this refinery strengthens Western resilience and reduces import dependency. SuperMetalPrice expects the project’s progress to boost investor confidence in localized midstream processing and sustainable energy infrastructure across Canada and the U.S.