Electra Advances Concrete, Structural Steel and Equipment Installation at North American Cobalt Sulfate Refinery

Electra Battery Materials Corporation (ELBM) issued a construction update on August 18, 2026, regarding its cobalt sulfate refinery in Temiskaming Shores, Ontario. The company finalized definitive construction agreements with WB Melback Corporation for approximately C$26 million and Pro Pipe Construction Ltd. for approximately C$6.8 million. These agreements, previously announced, are now being executed across the solvent extraction and crystallizer circuits.

Work with Kilmarnock Enterprises continues under its previously announced structural, mechanical, and piping package, although the definitive agreement with Kilmarnock is still being finalized. Engineering is substantially complete, with first and second releases of piping isometrics issued; remaining tasks involve field-driven changes, site queries, and construction support.

Construction progress includes the installation of concrete piers, pump bases, and structural steel pipe-rack erection, alongside equipment leveling and setting, piping preparation, and the selective removal of legacy refinery piping and equipment. Equipment fabrication and procurement are advancing for valves, ion-exchange strip filters, bentonite bins, generators, pumps, and other plant equipment.

Electra reaffirmed its project schedule, targeting select commissioning in Q4 2026, mechanical completion in Q2 2027, full commissioning and ramp-up in Q3 2027, and commercial production in Q4 2027.

Electra Battery Materials Corporation released an update confirming that construction packages are moving under definitive agreements, though the announcement contains no new financial results, funding, or offtake agreements. The company’s previously disclosed US$73 million construction budget and production schedule remain unchanged.

Specific construction packages detailed in the update include: - WB Melback: Previously announced at approximately C$25 million for the solvent extraction building package, now finalized at approximately C$26 million. - Pro Pipe: Previously announced at around C$6.8 million for crystallizer-related structural, mechanical, and piping work. - Kilmarnock: Previously announced at approximately C$12.4 million; this package is still not finalized.

The update confirms that field execution is advancing in an incremental and expected manner. The most material aspects of the release are confirmations of work already known to the market, which does not alter the company’s liquidity profile, project budget, schedule, or commercial arrangements.

Context from the Q2 2026 report, which was not disclosed in this release, indicates that Electra held C$36 million in cash, carried a going-concern flag, faced a Nasdaq minimum bid price deficiency, and disclosed it may need additional capital for commissioning. This construction update does not address those risks.

Electra Battery Materials Corporation is a Canadian critical minerals development company focused on battery materials processing. Its flagship project is a brownfield, fully permitted cobalt sulfate refinery in Temiskaming Shores, Ontario, positioned as North America’s only battery-grade cobalt sulfate refinery. The facility has an initial nameplate capacity of 5,120 tonnes per year of battery-grade cobalt sulfate, with an expansion path to 6,500 tonnes per year via crystallizer capacity and debottlenecking. The project timeline includes select commissioning in Q4 2026, mechanical completion in Q2 2027, ramp-up in Q3 2027, and commercial production in Q4 2027.

The company also holds the Iron Creek and Ruby cobalt-copper properties in Idaho’s Cobalt Belt. Additional initiatives include an evaluation of black mass recycling and a joint venture with Aki Battery Recycling, as well as an engineering study for a potential battery-grade nickel refinery in the southeastern United States.

In terms of commercial context, LG Energy Solution is the cornerstone customer, with a binding term sheet covering approximately 60% of production through 2029 and an option to extend to 2032. Feedstock frameworks exist with Glencore and Eurasian Resources Group. Government support includes funding commitments from the U.S., Canadian, and Ontario governments.