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Facility will produce enough battery-grade material to support manufacturing of 250,000 electric cars a year
The price tag to build a Temiskaming battery materials industrial park will be in the neighbourhood of $720 million to $850 million.
Electra Battery Materials announced the results of a scoping study this week that crunched the economic numbers of the proposed development situated between the town of Cobalt and Temiskaming Shores. The property hosts the former Yukon refinery, which is being upgraded and expanded.
The Toronto company is constructing a cobalt refinery, the first part of a hugely ambitious four-phase industrial development on the 600-acre property. Electra wants to serve the North American electric vehicle (EV) market with battery-grade material.
The larger anticipated complex would combine the refining of nickel, cobalt and possibly manganese, with the recycling of waste battery material, to create an upgraded product, called precursor cathode active material (pCAM), that would be shipped to battery cell manufacturers engaged in the North American EV industry. Electra would like to add an industrial partner to help with the pCAM operation.
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