Electra Battery Materials Corporation has approved a US$73 million construction budget and execution schedule to complete its cobalt sulfate refinery in Ontario, north of Toronto. The board-approved funding covers all remaining construction work through mechanical completion, with most major equipment already procured and delivered to site. The refinery is designed to become North America’s first producer of battery-grade cobalt sulfate, with initial capacity of 5,120 tonnes of contained cobalt per year. Construction milestones include full site mobilization and early commissioning of utilities and circuits, followed by mechanical completion and production ramp-up, leading to commercial production. Electra has secured about US$82 million in total financial support for the project, including government funding from Canada, Ontario, and the United States Department of Defense, along with prior equity financing. The company stated that committed capital exceeds the approved construction budget and is expected to support completion. The refinery is a fully permitted brownfield asset with substantial existing infrastructure in place. Electra is advancing the project to establish domestic cobalt refining capacity for North American battery supply chains and electric-vehicle markets