Electra Battery Materials

Electra Battery Materials is executing a strategy to onshore the EV battery supply chain in North America. The company is refurbishing a fully-permitted cobalt refinery in Ontario, which will produce 5,000 tonnes per year of cobalt sulfate. Electra has a 3-year off-take agreement with LG Energy Solution for 7,000 tonnes of cobalt.

The company has launched a large-scale trial of black mass recycling at the refinery to recover high value metals like nickel, cobalt and lithium. Success will pave the way for commercial production. Electra is also exploring expansion opportunities into battery grade nickel sulfate and a second refinery in Quebec's Becancour industrial park.

Additionally, Electra has exploration assets in Idaho including the Iron Creek cobalt-copper project. Iron Creek has an indicated resource of 18.4 million pounds of cobalt. Step-out drilling is expected to expand resources. Electra sees Idaho as America's best opportunity to onshore ethical cobalt supply.

A key differentiation for Electra is its low carbon footprint, with over 50% lower emissions than Chinese refiners. The company is targeting net zero greenhouse gas emissions by 2050. Multiple catalysts are in place to advance Electra's first mover advantage in the North American EV supply chain.