Nickel manganese cobalt battery project financing options in Canada 2025

Will Electra build a battery-grade Cobalt Refinery near Temiskaming Shores?

More funding was announced Friday for a $100 million cobalt refinery plant project just a few minutes south of Temiskaming Shores. Cobalt is considered a key material in the race to build lithium-ion batteries, which power electric vehicles. Electra Battery Material Corp. is working to open the first battery-grade cobalt refinery in North America.

Is cobalt a key material in the race to build lithium-ion batteries?

Cobalt is considered a key material in the race to build lithium-ion batteries, which power electric vehicles. Electra Battery Material Corp. is working to open the first battery-grade cobalt refinery in North America. Electra Battery Material Corp. in Cobalt, Ont., is working to open the first battery-grade cobalt refinery in North America. (File)

What will FPX do with nickel & cobalt?

This scale of testwork will provide FPX with additional quantities of nickel and cobalt products to conduct a market validation program with downstream consumers in the EV battery supply chain, including large battery companies and automakers.

Why did Electra invest $5 million in a hydrometallurgical Cobalt Refinery?

The Federal Economic Development Agency for Northern Ontario invested an additional $5 million through the Regional Economic Growth through Innovation program, adding to its $5 million investment from 2020, to support the continued recommissioning and expansion of Electra’s hydrometallurgical cobalt refinery in Ontario.

How can the NRC accelerate our impact in battery mineral processing?

In order to accelerate our impact in battery mineral processing and battery materials discovery, the initiative combines the unique platforms of the NRC's advanced materials research facility in Mississauga, Ontario, with battery materials and processing expertise across laboratories such as those in Ottawa, Montreal and Vancouver.

Can Baptiste deliver a high-margin low-carbon nickel product?

A 2023 FPX preliminary feasibility study demonstrated the potential for Baptiste to deliver a high-margin, low-carbon nickel product at an average of about 60,000 tonnes per year of nickel over a 29-year mine life.