Electra provides update on minerals refinery project and black mass economics

Mike Edwards   

News black mass material cobalt sulphate copper Electra Battery Materials electric vehicle battery graphite lithium manganese minerals nickel sulphate supply chain update

Electra Battery Materials Corporation has released updated economics and capital spend estimates for its refinery complex currently under construction north of Toronto.

Pending completion, Electra’s refinery complex will be the first in North America to integrate the production of critical minerals, including cobalt sulfate and nickel sulfate, needed for the electric vehicle battery supply chain and the processing of black mass material designed to recover high value elements found in recycled lithium-ion batteries, including lithium, nickel, cobalt, manganese, graphite, and copper.

According to Trent Mell, CEO of Electra, “as expected, the capital spend requirements for completing our refinery project have risen beyond our initial forecasts due to higher material and labor costs, scope expansion, and supply chain disruptions over the past 18 months.

“Offsetting this development are the compelling economics identified by our desktop scoping study to build a permanent black mass processing operation, given its low capital intensity estimated at US$6 million and its high rate of internal return of more than 120%.

“Leveraging existing infrastructure, equipment, permits, and personnel, Electra can quickly transition from a plant-scale demonstration facility to a scalable, continuous battery recycling operation in 12 months from financing.

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