The early works programme targets site-level activities in preparation for the construction of Electra’s large-scale cobalt sulphate refinery in Toronto, Canada.

The programme will focus on advancing the solvent extraction section of the refinery, with operational groundwork allocated a budget of US$547,000 to accelerate its development into the full construction phase. The refinery has a planned production capacity of 5.0ktpy of cobalt contained in sulphate and will use cobalt hydroxide feedstock sourced from ERG’s Metalkol RTR operation in the DRC.

After production is commissioned, Electra expects to expand the refinery’s capacity to 6.5ktpy of cobalt contained in sulphate, subject to government funding and private funding from strategic partners.

Construction activities were suspended in 2023 due to funding constraints, with Electra claiming it needed ~US$60M to resume operations, excluding commissioning costs. To date, the company has secured US$54M in non-dilutive funding, and the refinery’s development is supported by strategic funding from both the US and Canadian governments.

This funding includes (1) US$20M from the US Department of Defense under the Defense Production Act, announced in August 2024, and (2) funds from Canada’s Strategic Innovation Fund.

Once operational, Electra’s will be the only refinery in North America designed to produce cobalt sulphate, contributing to the development of North America’s domestic battery-grade material supply chain and reducing its reliance on Chinese material.