Funding adds itself to the $10 million investment from the Federal government
NICKEL BELT – GREATER SUDBURY – In a press release issued yesterday, the Department of Defense announced a $20 million USD investment to Electra Battery Materials Corporation to complete an industrial-scale hydrometallurgical plant and establish cobalt sulfate production in Cobalt, Ontario. It builds upon the $10 million dollars invested from the Canadian government through FedNor and Natural Resources Canada funding envelopes to advance battery materials recycling at the same facility. Electra is spearheading North America's first cobalt sulfate refinery, crucial for lithium-ion batteries, boosting the EV supply chain and strengthening economic and security ties for the U.S. and Canada.
Northern Ontario’s mining industry is essential to Canada’s Critical Minerals Plan drives economic growth and job creation across the region. These investments truly strengthen the Canada-U.S. Joint Action Plan for Critical Minerals, bolstering the North American supply chain for essential battery materials.
Quotes
“Congratulations to Trent Mell and the Electra team for playing a huge role in putting Ontario at the forefront as the world increasingly looks for critical minerals to power the clean economy. Their commitment to partnering with the federal and U.S. governments, along with the private sector, keeps Northern Ontario competitive. I look forward to seeing their projects grow, create more jobs, and drive lasting, sustainable change in the EV sector.” – Marc G. Serré, MP for Nickel Belt, Parliamentary Secretary to the Minister of Energy and Natural Resources and Parliamentary Secretary to the Minister of Official Languages
"This investment by both the US Department of Defense and Canada's FedNor and Natural Resources Canada demonstrates a strong belief from both countries in clean, green energy. This kind of support is crucial for future generations to live in a country that is both economically viable and environmentally secure." – Anthony Rota, MP for Nipissing—Timiskaming
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Media Contact:
Kaylie Dudgeon - Special Assistant
Marc G. Serré MP Nickel Belt and Parliamentary Secretary to the Minister Energy and Natural Resources an Parliamentary Secretary of Official Languages
705-507-2416
[email protected]
705-897-2222
Please call to book an appointment. Veuillez appeler pour prendre rendez-vous.
705-580-2584
Please call to book an appointment. Veuillez appeler pour prendre rendez-vous.
