Refinery developer wants to supply battery-grade metals for North American car market
The Toronto company behind the refurbishment of a mothballed Temiskaming hydrometallurgical refinery said it’s going all in on creating a “battery park” to feed refined cobalt and nickel to the electric vehicle market.
First Cobalt announced it’s making a name change and other strategic moves toward providing North American automakers with a domestic source of raw material with a proposed industrial park outside the town of Cobalt in northeastern Ontario.
In a news release, First Cobalt said its proposed Electra Battery Materials industrial park will be the only integrated battery materials complex in North America. The company said it’s in early talks with manufacturers to partner on the construction of a precursor facility – meaning to supply the battery-grade raw materials needed to make electric vehicle batteries – on its site by 2025.
Cobalt and nickel are key ingredients needed in the production of lithium-ion batteries used in electric vehicle (EV) manufacturing.