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Electa confirms $73M refinery construction on budget as workforce doubles to 130
ELBMElectra Battery Materials Corp
Electra Battery Materials Corporation provided an update on the construction of its cobalt sulfate refinery in Temiskaming Shores, Ontario. The company confirmed that the project remains within its US$73 million budget and that the site workforce has doubled from approximately 60 to 130 people since August. Construction activities have advanced across all process areas, including equipment installation and building enclosure, with zero lost-time incidents reported. While schedule pressure has emerged regarding FRP process piping fabrication, management anticipates any adjustments will be modest. The company also highlighted commercial progress, noting feedstock secured from Glencore AG through 2031 and production commitments to LG Energy Solution. Electra Battery Materials Corporation operates in the critical minerals sector, focusing on constructing North America's first battery-grade cobalt sulfate refinery.