Electra Battery Materials ponders Quebec invite to build refinery in Becancour
Electra Battery Materials fully expects government funding to roll in shortly to finish its incomplete cobalt and nickel refinery expansion in Temiskaming. The Toronto company issued a Dec. 29 news release that it expects government funding “very early in 2024” to resume construction that was brought to a halt last year.
Electra is short US$60 million to finish its refurbishment and expansion of the former Yukon refinery located between the town of Cobalt and Temiskaming Shores.
Both the federal and provincial governments have committed to domestic critical minerals supply strategies to assist mining companies, processors, battery manufacturers and automakers with subsidies for the transition into cleaner transportation technologies.
Electra is also counting on private money flowing into the refinery in the form of strategic partners.Electra is building a one-of-a-kind facility in North America. The refinery fills a gap in the supply chain that only exists in China and Scandinavia.