Alongside Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Energy and Natural Resources and to the Minister of Official Languages, Anthony Rota, Member of Parliament for Nipissing–Timiskaming, today announced that the Government of Canada is investing $5 million to support the continued expansion of Electra Battery Materials Corporation’s cobalt refinery in North Cobalt.
Rota says, “The Government of Canada, through FedNor, is working hard to expand the electric vehicle supply chain right here in Northern Ontario. Today’s funding ensures that Northern Ontario’s mining sector will continue to play an important role in our transition to a clean and sustainable economy and will promote a strong and thriving regional economy in Nipissing-Timiskaming.”
Today’s announcement will enable Electra Battery Materials Corporation to continue the recommissioning and expansion of its hydrometallurgical cobalt refinery in North Cobalt. The facility will be the first facility of its kind in North America. Once complete, the refinery will be capable of producing cobalt for up to 1.5 million electric vehicles annually. Provided through FedNor’s Regional Economic Growth through Innovation (REGI) program, this strategic investment builds on the Government of Canada’s initial investment of $5 million, announced in 2020.
Trent Mell, President & CEO, Electra Battery Materials Corporation says, “Canada has surpassed China as the top jurisdiction in the global battery supply chain, given its strength in raw materials mining and processing. Today’s announcement from the Government of Canada’s demonstrates its continued commitment to building a strong, domestic EV supply chain. We are grateful for this additional investment as it represents additional validation of our progress and will allow Electra to continue to work toward our goal of producing secure, clean, and ethically sourced materials that are a crucial part of a sustainable future for electric vehicles in Canada.”
With one of the largest concentrations of mining and related businesses in Canada, Northern Ontario’s mining industry is a key economic driver that fuels social and economic growth, while creating jobs and opportunities for families throughout the region. This investment also helps advance the Canada-U.S. Joint Action Plan for Critical Minerals Collaboration, by strengthening the North American supply chain for this critical battery mineral.
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