Electra Secures 100% of Cobalt Feedstock Required for Refinery Commissioning and Ramp-Up

Electra Battery Materials Corporation has extended its cobalt hydroxide feed purchase agreement with Glencore AG through December 31, 2027. The extension secures 100% of the feedstock required for the commissioning and ramp-up of its Ontario cobalt sulfate refinery through 2027. The agreement covers approximately 10,000 metric tonnes of contained cobalt, valued at over US$500 million at current market prices.

The deal complements a previously signed binding term sheet with LG Energy Solution, which commits to purchasing 60% of the refinery's planned cobalt sulfate production through 2029. Management highlighted the agreement as a cornerstone commercial relationship that de-risks the feedstock supply chain ahead of refinery startup.

The company reaffirms its construction timeline, targeting early commissioning in Q4 2026, mechanical completion in Q2 2027, and commercial production in Q4 2027.

Electra Battery Materials Corporation has secured an extension to its feedstock supply chain, a move that aligns with the company’s previously announced $73 million US construction budget and the offtake agreement with LG Energy Solution. The company had already partially secured its supply chain through prior agreements with Glencore and Eurasian Resources Group, and has been actively advancing domestic feedstock testing at the Iron Creek project.

The extension provides operational certainty and reduces supply chain execution risk without introducing new capital requirements, changing the project timeline, or altering the revenue profile. The announcement confirms the execution of a previously disclosed strategic priority. Given the refinery's 2027 commissioning target, the market has already priced in the need for long-term feedstock security, meaning the news serves as an incremental update rather than a market-moving surprise.

Electra Battery Materials Corporation is developing North America's first battery-grade cobalt sulfate refinery in Temiskaming Shores, Ontario. The facility represents a fully permitted brownfield expansion with an initial nameplate capacity of 5,120 tonnes per annum of contained cobalt, which is expandable to 6,500 tonnes per annum. The project targets mechanical completion in Q2 2027 and commercial production in Q4 2027.

Secondary initiatives include a modular battery recycling facility for black mass processing and the Iron Creek cobalt-copper project in Idaho, which is being evaluated as a future domestic feedstock source. The company is also advancing an engineering study for a potential battery-grade nickel sulfate refinery in the southeastern United States.