Electra Battery Materials Corporation has restarted construction on its Ontario-based cobalt sulfate refinery after securing approximately US$82 million in project financing. Permits are in place and major equipment is already on site. The facility, designed to produce 6,500 tonnes of battery-grade cobalt sulfate annually, will serve North America’s critical minerals supply chain.
Included in the financing are government contributions worth US$48 million from the United States, Canada and Ontario. Electra has engaged EXP as construction manager to oversee detailed engineering, issuance of major mechanical and electrical contracts, and full construction mobilization targeted for early 2026, with commissioning slated for 2027.
Site prep is already underway, including reinstating mechanical, electrical and instrumentation systems, upgrading conveyor and power infrastructure and preparing laydown and warehousing areas. Electra underscores that the project is a brown-field expansion, leveraging existing infrastructure to accelerate timelines. CEO Trent Mell noted that the alignment of industrial policy, financing and execution teams enables the company to deliver a strategically important asset for battery materials in North America.