Electra Battery Materials Initiates Early Works for Cobalt Refinery Restart, Supported by US and Canadian Governments.

Electra Battery Materials Corp has initiated an early works program for its cobalt refinery north of Toronto, aiming to restart full-scale construction with strategic funding from the US and Canadian governments. The program focuses on advancing infrastructure in the solvent extraction area, a key component of the refinery's hydrometallurgical circuit, and is part of Electra's disciplined approach to maintaining project momentum while finalizing funding.

Electra Battery Materials Corp (ELBM.V) has launched an early works program for its cobalt refinery located north of Toronto, aiming to restart full-scale construction with strategic funding from the U.S. and Canadian governments. The program focuses on advancing infrastructure in the solvent extraction area, a key component of the refinery's hydrometallurgical circuit, and is part of Electra's disciplined approach to maintaining project momentum while finalizing funding [1].

The early works program, budgeted at approximately C$750,000 (approximately $547,000 USD), includes targeted site-level activities designed to prepare for the restart of full-scale construction. The initiative is partially supported by a US$20 million award from the U.S. Department of Defense under the Defense Production Act [2]. Additionally, the project has received support from Canada’s Strategic Innovation Fund.

Mark Trevisiol, vice president of projects at Electra, stated, "The early works program represents a critical step in transitioning the refinery site back to construction mode. By focusing on key infrastructure, particularly in the SX area, we are ensuring the site is ready for a seamless ramp-up as soon as full funding is in place."

The program follows a C$200,000 investment earlier this year into the septic, power, and lighting systems, as well as the recent delivery and placement of the site's prefabricated electrical house, further enhancing construction readiness. Work scheduled over the summer will focus on advancing high-priority activities in the solvent extraction area. In parallel, tender preparation and engineering support activities will proceed to facilitate the transition to full construction [2].

The company's shares were last seen up $0.07 to $1.52 on the TSX Venture Exchange.

References:
[1] https://finance.yahoo.com/news/electra-battery-materials-gains-near-155910520.html
[2] https://www.mining.com/electra-battery-materials-begins-build-to-restart-north-americas-only-cobalt-sulfate-refinery/