Electra Announces Federal Government Support for Completion of North America's Only Cobalt Sulfate Refinery
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Electra Battery Materials Corporation has received a non-binding Letter of Intent from the Canadian Federal Government for $20 million in funding to complete its cobalt sulfate refinery in Temiskaming Shores. The project aims to produce up to 6,500 tonnes of cobalt annually, supporting the production of 1 million electric vehicles and reducing North America's dependence on Chinese refined cobalt.
March 21, 2025 | 4:00 pm
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Federal support of $20M signals strong governmental backing for Electra's cobalt refinery, potentially accelerating the company's strategic positioning in the EV supply chain.
Government funding validates Electra's business model, reduces financial risk, and demonstrates strong political support for the company's critical minerals strategy.
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