https://www.northernontariobusiness.com/
Electra Battery Materials turns to lenders to finance early construction works
Electra Battery Materials has secured US$5 million ($6.9 million) from its own lenders to spend on its unfinished Temiskaming cobalt refinery.
In an Oct. 25 news release, the aspiring mineral processor announced it has a non-binding term sheet from the holders of secured notes issued by the company to raise financing that will be earmarked for “early works and winter preparations” at its refinery project in northeastern Ontario and other corporate purposes.
Construction was halted last year due to raising project costs caused by inflation. The former Yukon refinery, between the town of Cobalt and Temiskaming Shores, has been refurbished and expanded to be capable of producing 6,500 tonnes of processed cobalt sulfate a year.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/manufacturing/temiskaming-refinery-builder-secures-funds-for-construction-restart-9722290