Electra Battery shares surge 14.42% after-hours following refinery project progress update.

Electra Battery Materials Corporation (ELBM) surged 14.42% in after-hours trading following the announcement that it completed financing and debt restructuring, fully funding its cobalt sulfate refinery project in Canada. The company confirmed the refinery, positioned as North America’s first of its kind, is now fully capitalized, removing prior financial uncertainties and accelerating construction timelines. This development aligns with recent strategic updates, including securing key partnerships and advancing critical mineral projects, reinforcing investor confidence in the firm’s role in supporting U.S. critical minerals independence. The move follows a series of positive updates, including shareholder approvals and operational progress, which collectively underscore Electra’s pivot toward scaling production amid growing demand for battery materials.