Two new battery production lines at the Electra Battery Materials Corporation’s future Battery Materials Park near Cobalt will be developed after a $250,000 grant from the Ontario government.
Electra Battery Materials is an integral part of the North American battery supply chain, providing low-carbon, sustainable and traceable raw materials for the region’s fast-growing electric vehicle industry, according to the company website.
The park would be the first of its kind in Ontario and play a key part in supplying the demand for critical minerals that support the electric vehicle (EV) supply chain in North America.
The company is 351 days away from production of North America’s only source of battery-grade cobalt sulfate
“Our government is building towards the release of Ontario’s first-ever Critical Minerals Strategy and we are proud to invest in innovative companies like Electra that are striving to meet soaring demand for critical minerals that sustain North America’s electric vehicle industry,” said Greg Rickford, Minister of Northern Development. “This project will connect Ontario’s mineral wealth in the north with our manufacturing sector in the South, creating jobs and opportunities in communities across the province.”
"The proposed Battery Materials Park facility could supply more than 1.5 million EVs and employ up to 250 people, becoming a key pillar of the EV battery supply chain for battery-grade nickel sulfate and precursor cathode active materials," says a government news release. "The Battery Materials Park will also include battery recycling to meet new demand with a more sustainable source of materials."
“Ontario has what it takes to develop and build the car of the future through emerging technologies and advanced manufacturing processes,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Through our Driving Prosperity plan and this kind of investment, our government is staking Ontario's claim to the emerging North American EV battery industry and positioning the province to leverage its critical mineral wealth.”
“We are delighted to partner with Ontario on this Battery Materials Park project. Ontario is home to North America's only battery-grade cobalt refinery, an abundance of nickel and clean hydroelectric power. Together, we can leverage Electra's existing footprint and the Government of Ontario's ambitions to build a world-class battery supply chain in the province,” said Trent Mell, President of Electra Battery Materials Corporation. “The Ontario government has been our biggest champion and we are grateful for their support. This is a great example of a true win-win where the public and private sectors are coming together to create meaningful economic opportunity."
On November 17, the government released Phase 2 of Driving Prosperity ― The Future of Ontario’s Automotive Sector. The next phase of the 10-year plan will help Ontario’s auto sector pivot to producing the automotive technologies of the future, including the next generation of EVs and the batteries those vehicles need. Phase 2 positions Ontario as a North American leader in developing and building the vehicle of the future through emerging technologies and advanced manufacturing processes.
In December 2020, Canada and Ontario announced a $10 million investment to Electra Battery Materials Corporation (formerly First Cobalt Corporation) to establish North America’s first cobalt refinery in Northern Ontario.
The $84 million project is on schedule for a December 2022 startup.
