---
title: "Canada increases investment in Electra’s cobalt refinery"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285171611.md"
description: "Electra Battery Materials has secured a binding investment agreement with the Canadian government, which will provide 20 million Canadian dollars to support the establishment of North America's first battery-grade cobalt sulfate refinery in Temiskaming Shores, Ontario. The project aims to produce 5,120 tonnes of cobalt annually by 2027, with plans to increase output to 6,500 tonnes. The facility is expected to create around 60 permanent jobs and over 100 indirect jobs. The investment is seen as a significant milestone for Electra and the North American battery materials supply chain."
datetime: "2026-05-05T08:09:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285171611.md)
  - [en](https://longbridge.com/en/news/285171611.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285171611.md)
generator: "portal-rs"
---

# Canada increases investment in Electra’s cobalt refinery

The Canadian government is providing total funding of 20 million Canadian dollars (currently around 12.6 million euros) for eligible project costs. This investment aims to support the completion and commissioning of Electra Battery Materials’ refinery in Temiskaming Shores, Ontario, as announced by the company. Earlier in 2024, the Canadian government had already approved a grant of five million dollars for Electra.

In the recently signed agreement, Electra describes the funding as ‘a significant milestone in advancing Electra’s refinery project.’ Construction of the facility is scheduled for completion in the second quarter of 2027. Once commissioned, the refinery is expected to produce approximately 5,120 tonnes of battery-grade cobalt annually in 2027, with plans to increase this to 6,500 tonnes later.

The company anticipates requiring around 150 to 200 workers during the construction and start-up phase, including direct employees and contractors. In ongoing operations, the facility is expected to create around 60 permanent jobs, as well as over 100 additional indirect jobs in the region.

“At full capacity, the facility will represent a significant global source of refined cobalt, a critical input for defence systems, consumer electronics and advanced energy storage technologies,” Electra states. Initially, however, the focus will be on the battery sector: a large portion of the production will be sold to LG Energy Solutions under an offtake agreement announced earlier this year.

“Electra has assembled the assets, partnerships, and leadership required to build a strategically important business in the North American battery materials supply chain, and I have strong confidence in the Company’s ability to deliver,” said David Stetson, Chairman of the Board of Electra. “I also want to recognize the support of the Government of Canada for this important project.”

“Canada has the critical minerals the world wants – and we can turn those resources into good jobs, stronger industry, and more secure supply chains,” added Tim Hodgson, Canada’s Minister of Energy and Natural Resources. “By investing in the Temiskaming Shores Facility, we are investing in Northern Ontario, in the clean technology transition, and in building Canada strong.”

electrabmc.com

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**