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FINWIRES

Electra Battery Materials Advances Construction of Cobalt Refinery in Ontario

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Electra Battery Materials (ELBM.V) on Tuesday said it is advancing construction work at its cobalt sulfate refinery in Ontario after executing major construction packages.

Electra said it has finalized definitive agreements with WB Melback and Pro Pipe Construction for for C$26 million and C$6.8 million, respectively, as erection of structural steel, concrete works, equipment installation and other activities are underway.

The company expects to start select commissioning activities in the fourth quarter, with full commissioning and production ramp-up expected in the third quarter of 2027. Start of commercial production is scheduled for the fourth quarter of 2027.

The company's shares closed down C$0.02 to C$0.79 Monday on the TSX Venture Exchange.

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