https://www.northernontariobusiness.com/
Luxembourg multinational Eurasian Resources Group to provide plant feed from Democratic Republic of Congo starting in 2026
Electra Battery Materials has struck a deal to secure a supply of “ethically sourced” cobalt from the Democratic Republic of Congo (DRC) to feed its refinery project in Temiskaming.
The Toronto company announced it’s signed a binding letter of intent with Eurasian Resources Group (ERG), considered a global leader in the metal, to ship concentrated cobalt from its Metalkol operation in the African country to Electra’s still-to-be-completed facility in northeastern Ontario
Beginning in 2026, the three-year deal will provide for the delivery of 3,000 tonnes a year of cobalt hydroxide to Electra’s plant, located between the town of Cobalt and Temiskaming. The material will be converted into cobalt sulfate, a material used in the manufacturing of batteries for the electric vehicle industry.
In a news release, Electra said this feed material will fill all of the refinery’s annual capacity. While the DRC has a far-from-stellar reputation for its controversial, dangerous and environmentally toxic artisanal mining practices, Electra insists ERG is a responsible miner and processor.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/electra-inks-cobalt-supply-agreement-for-temiskaming-refinery-8541902