Project will allow the production of battery grade cobalt sulfate and grow Canada's domestic critical mineral supply chain
Today, on behalf of the Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, Pauline Rochefort, Parliamentary Secretary to the Secretary of State (Rural Development), announced a significant investment of $20 million in Electra Battery Materials Corporation. Through the Strategic Response Fund, this investment will support the advancement of the company's $99.4 million project to repurpose and expand the production capacity of its existing refinery in Temiskaming Shores, Ontario to produce battery grade cobalt sulfate. This facility will be North America's first cobalt sulfate refinery and deliver results under our government's Auto Strategy, Defence Industrial Strategy and Critical Minerals Strategy.[KH1] As global markets and capital turn to electrification, our government is investing strategically in our critical mineral industry as part of our plan to build a strong, resilient economy.
Our government's investment in Electra will create and maintain more than 160 jobs, including 60 full time direct employment opportunities for Canadians in Northern Ontario. Construction on the facility will employ a further 100 skilled trades workers, generating significant economic benefits for Temiskaming Shores and nearby communities, including North Bay and Sudbury. At full capacity, the facility will supply the cobalt sulfate required for the equivalent of up to one million electric vehicles annually. As the only cobalt sulfate refinery in North America, Electra's facility will ensure Canada remains a global leader in the critical minerals and EV battery industry. Domestic cobalt sulfate production will give the automotive sector access to essential battery materials, reduce reliance on imports, and support growth across sectors including EVs, defence manufacturing, semiconductors, and emerging medical technologies.
Canada has what the world needs to meet the demands of the future. By building up Canada's critical minerals production and processing capacity, this investment advances our governments plan to build the strongest economy in the G7 by creating good, well-paying jobs, strengthening domestic supply chains, and bolstering our industrial competitiveness.
