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1月前
Electra Signs Definitive $20 Million Investment Agreement with Government of Canada to Advance Strategic Refinery
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Electra Signs Definitive $20 Million Investment Agreement with Government of Canada to Advance Strategic Refinery
(All amounts in C$ unless otherwise specified)
Toronto, Ontario – (May 4, 2026) – Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) is pleased to announce that it has executed a binding investment agreement (the “Investment”) with the Government of Canada under the Strategic Response Fund (“SRF”), turning previous support for the project into a firm commitment.
The Investment provides for total federal funding of $20 million toward eligible project costs, to support the completion of construction and commissioning of North America’s only battery-grade cobalt sulfate refinery, located in Temiskaming Shores, Ontario. The execution of the Agreement marks a significant milestone in advancing Electra’s refinery project and follows extensive due diligence and discussions with the federal government since the initial announcement of support in 2025.
“I have seen only a handful of moments where market need, policy alignment, and execution capability come together to create outsized value in my career, and this is one of them,” said David Stetson, Chairman of the Board of Electra. “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. I also want to recognize the support of the Government of Canada for this important project.”
The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions commented, “Canada is accelerating its leadership in the industries that will define the global economy of tomorrow. By contributing to building a robust domestic refining and processing supply chain for critical minerals, we are strengthening Canada’s industrial base, securing high-quality jobs and positioning the economy for long-term growth. Strategic investments like this are how we build a more resilient economy that is focused on Canadian industry and workers.”
The Honourable Tim Hodgson, Minister of Energy and Natural Resources added, “Canada has the critical minerals the world wants – and we can turn those resources into good jobs, stronger industry, and more secure supply chains. By investing in the Temiskaming Shores Facility, we are investing in Northern Ontario, in the clean technology transition, and in building Canada strong.”
Pauline Rochefort, Parliamentary Secretary to the Secretary of State (Rural Development) and member of Parliament for Nipissing-Timiskaming, who visited the refinery in person to announce this commitment on behalf of the Honourable Mélanie Joly, said, “This project is great news for the community of Temiskaming Shores and for the Canadian economy. Investing in Electra Battery Materials Corporation will allow us to build up the country’s manufacturing sector while reinforcing the critical minerals industry in Canada. I am excited to see how this project will help build Canada strong and create well-paying jobs for the local economy.”
“Our focus remains on execution, bringing this refinery into production and establishing a reliable domestic source of cobalt sulfate,” said Trent Mell, CEO of Electra. “We appreciate the Government support received to date, which helps drive the project toward our goal of achieving first production in 2027.”
The Investment underscores Electra’s focus on supporting regional economic growth. The Company expects to require roughly 150 to 200 workers during construction and ramp-up, including direct employment and contractor opportunities, and sustain approximately 60 permanent jobs during operations, as well as an additional 100+ indirect employment opportunities in the region, supporting long-term employment in Northern Ontario. Electra is prioritizing local sourcing and partnerships with Canadian contractors, helping to drive economic activity and strengthen the domestic battery materials supply chain.
Mechanical completion of the facility is scheduled for Q2 2027. Once commissioned, the refinery will have an initial annual production capacity of approximately 5,120 tonnes of battery grade cobalt in 2027, increasing to 6,500 tonnes. At full capacity, the facility will represent a significant global source of refined cobalt, a critical input for defense systems, consumer electronics and advanced energy storage technologies. A majority of production will be sold to LG Energy Solution under an offtake arrangement announced earlier this year.
The refinery is expected to be a cornerstone asset in North America’s battery materials supply chain, enabling domestic production of a critical input currently dominated by foreign refining capacity. The project aligns with both Canadian and U.S. policy objectives to localize critical mineral processing and strengthen energy transition infrastructure.
The project is designed for efficient, reliable operations and responsible environmental management, with measures to reduce emissions and optimize energy use. These elements support consistent, long-term production while aligning with evolving industry standards and regulatory expectations.
Electra is advancing growth opportunities that leverage its expertise in cobalt refining, including battery recycling and an expansion into nickel sulfate production, supported by ongoing engineering and laboratory work, as governments in Canada and the United States intensify efforts to onshore critical minerals processing capacity.
The funding includes a combination of repayable and non-repayable contributions, subject to the terms and conditions of the Investment. The repayable portion is expected to be repaid over a defined period following project completion, in accordance with customary government contribution frameworks.
About Electra Battery Materials
Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. The Company’s primary focus is constructing North America’s only cobalt sulfate refinery, as part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to the Refinery, Electra holds a significant land package in Idaho’s Cobalt Belt, including its Iron Creek project and surrounding properties, positioning the Company as a potential cornerstone for North American cobalt and copper production.
Electra is also advancing black mass recycling opportunities to recover critical materials from end-of-life batteries, while continuing to evaluate growth opportunities in nickel refining and other downstream battery materials. For more information, please visit www.ElectraBMC.com.
Contact
Heather SmilesVice President, Investor Relations & Corporate Developmentinfo@ElectraBMC.com1.416.900.3891
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, including statements regarding the approved construction budget and its sufficiency; project milestones such as contract awards, site mobilization, commissioning, mechanical completion, commercial production and ramp-up; targeted throughput and production volumes; additional capital required for commissioning and working capital; engineering studies and incremental investments; availability of equipment, reagents, feedstock and other inputs; commercial arrangements; and the availability and timing of governmental or other financial support. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects', “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved” or similar expressions and are based on current assumptions and expectations. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, at www.sedarplus.com and on EDGAR at www.sec.gov. Although Electra Battery Materials Corporation believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Electra Battery Materials Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Our mailing address is:Electra Battery Materials Corporation 133 Richmond Street West, Suite 602 Toronto, Ontario M5H 2L3 Canad
US Market News
4月前
Polymetallic Explorers Gain Ground as Copper Deficit Reshapes Discovery PremiumsFebruary 11, 2026 9:42 AM
PR Newswire (Canada)
Issued on behalf of GoldHaven Resource Corp. VANCOUVER, BC, Feb. 11, 2026 /CNW/ -- Equity Insider News Commentary — The International Copper Study Group now projects a 150,000-tonne refined copper deficit for 2026, reversing its earlier surplus forecast as production growth slows to just 0.9% against demand that continues to outpace new supply[1]. Federal investment is widening beyond rare earths to cover high-risk minerals including tungsten and antimony, with MINING.COM reporting that Washington's 2026 policy agenda will prioritize processing capacity for metals where the U.S. remains almost entirely dependent on foreign supply[2]. GoldHaven Resources (CSE: GOH), Emerita Resources (TSXV: EMO), Amaroq (TSXV: AMRQ), Silvercorp (NYSE-A: SVM) and Electra Battery Materials (NASDAQ: ELBM) are positioned across that expanding critical minerals spectrum.
Boston Consulting Group's January analysis warns that isolated government and corporate efforts to reconfigure supply chains are insufficient, calling instead for coordinated mineral ecosystems that link producers, processors and buyers under shared pricing and offtake structures[3]. Institutions are positioning for that structural shift: the EU, U.S. and Japan are expected to sign a trilateral memorandum of understanding on critical raw materials cooperation within 30 days of the February 4 ministerial, targeting joint investment in mining, refining and recycling to reduce dependence on Chinese-controlled supply[4].GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF) has confirmed anomalous tungsten mineralization at its Magno Property in northwestern British Columbia. The company's 2025 surface exploration program identified a previously undocumented tungsten zone at the Vines Lake showing, where assays returned up to 6,550 parts per million tungsten. These results validate historical tungsten data at the Kuhn and Dead Goat showings while expanding the known footprint across multiple structurally controlled skarn zones spanning approximately 1.3 kilometers of strike length."These results represent a meaningful step forward in defining Magno as a large, zoned, intrusion-related mineral system," said Robert Birmingham, President and CEO of GoldHaven. "The confirmation of high-grade silver-lead-zinc mineralization, extensive tungsten, elevated copper within intrusive rocks, and strong bismuth-tellurium pathfinder anomalies reinforces our interpretation of a porphyry-driven system at depth. The emerging geological and metal zonation patterns share important similarities with Coeur Mining's Silvertip district, while Magno's broader critical-metal footprint highlights the potential for a multi-commodity discovery with district-scale upside."The tungsten discovery comes at a strategically important time for Western economies. China implemented strict export controls on tungsten throughout 2025, and the country controls over 80% of global tungsten supply. The metal possesses the highest melting point of any element, making it essential for cutting tools, defense applications including ammunition and armor, semiconductor manufacturing, and energy infrastructure. These export restrictions have elevated tungsten to critical mineral status across North America and Europe.The 2025 program at Magno successfully verified historical showings while discovering tungsten at Vines Lake where previous sampling had not documented the metal. Results from 357 samples revealed bonanza silver grades up to 2,370 grams per tonne alongside lead values exceeding 20% and zinc reaching 3.8% at the Magno and D-Zone carbonate replacement occurrences. Forty-five samples returned over 100 grams per tonne silver. The discovery of indium adds another strategic dimension, with values up to 334 parts per million. Indium is used in electronics and renewable energy technologies.GoldHaven has also completed its inaugural diamond drilling program at the Copeçal Gold Project in Brazil. Nine holes totaling 1,085.7 meters tested priority targets and discovered bornite, which suggests potential for a substantial gold-copper system. The company also confirmed high-grade copper mineralization at its Three Guardsmen Project, with surface sampling returning grades up to 15.85% copper.GoldHaven now controls 133,186.16 hectares across proven mining jurisdictions with multiple projects advancing simultaneously and assay results pending from Copeçal. All projects are supported by a comprehensive 43-101 Technical Report.CONTINUED… Read this and more news for GoldHaven Resources at: https://equity-insider.com/2025/10/02/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration-2/In other industry developments and happenings in the market include:Emerita Resources (TSXV: EMO) (OTCQX: EMOTF) intersected 9.2 meters grading 1.4% copper, 0.4% lead, 1.3% zinc, 0.41 g/t gold and 21.48 g/t silver in drill hole EC094 at its El Cura deposit in Spain. Additional notable results from ongoing drilling included 5.6 meters grading 1.2% copper, 0.6% lead, 1.3% zinc, 0.82 g/t gold and 28.00 g/t silver in hole EC093, extending mineralization across approximately 420 meters along strike and 460 meters down-dip.El Cura is part of Emerita Resources' wholly owned Iberian Belt West project which hosts three Volcanogenic Massive Sulfide deposits currently undergoing Prefeasibility Studies. Assay results for 91 holes were prepared in mid-January for inclusion into the NI 43-101 Mineral Resource Estimate that will be used in the PFS, representing a substantial increase over the 39 holes considered in the 2025 El Cura maiden MRE.Amaroq (TSXV: AMRQ) (OTCQX: AMRQF) has confirmed high-grade iron and copper-gold potential at its Minturn prospect in northwest Greenland following 2025 exploration results revealing surface magnetite grades up to 69.5% iron across a nine-kilometre strike. The reinterpretation of historical geophysical data suggests Minturn represents a Kiruna-style Iron Oxide Copper Gold system with extensive iron oxide alteration and brecciation, supported by soil sampling across parallel electromagnetic anomalies indicating copper and gold mineralization potential."These initial results from Minturn demonstrate that Greenland has the geological ingredients to host truly elephant-scale mineral systems," said James Gilbertson, VP Exploration of Amaroq. "The identification of what appears to be a Kiruna-style IOCG project, underpinned by extensive iron oxide alteration and very high iron grades at surface, represents a significant strategic step for Amaroq and its joint venture company, Gardaq."Amaroq is designing an aggressive 2026 follow-up campaign including scout drilling, detailed mapping and ground geophysical surveys to delineate the extent of the mineralized system. The company identified preliminary analyses showing low levels of impurities in iron-rich samples which supports potential Direct Shipping Ore applications for Direct Reduced Iron products.Silvercorp (NYSE-A: SVM) (TSX: SVM) has updated its budget for the El Domo copper-gold project in Ecuador to $284 million, representing a $44 million increase primarily driven by VAT rate adjustments and equipment additions. The company spent $44.5 million in 2025 advancing site preparation and achieved significant milestones including moving over 2.6 million cubic metres of material and completing a 600-bed construction camp with more than 960,000 hours worked without major incidents.Based on the refined budget, Silvercorp has scheduled El Domo for production by July 1, 2027, representing a six-month delay from the previous early-2027 target. The company expects to execute a mining contract with China Railway 19th Bureau Group valued at $35 million for the construction phase and approximately $63 million for five years of operations.Electra Battery Materials (NASDAQ: ELBM) (TSXV: ELBM) has awarded a contract worth $6.1 million to EXP Services for project management and engineering support during the construction phase of its Ontario cobalt sulfate refinery. The facility is advancing toward mechanical completion in H1 2027 with commissioning and production expected in the following months."Partnering with EXP provides Electra with the additional project and construction management support needed as we move into the final phase of refinery development," said Paolo Toscano, VP Project & Engineering of Electra Battery Materials. "The team is committed to safety and timely execution as we work to build capacity for a domestic supply of battery-grade materials."The refinery represents North America's only cobalt sulfate facility under development and is positioned to produce 5,100 tonnes of battery-grade cobalt annually once operational, with planned expansion to 6,500 tonnes per year. Electra Battery Materials maintains a cash position supporting the completion of key civil, mechanical and structural work including foundations, utilities and installation of solvent extraction and crystallizer equipment.Article Sources:
https://equity-insider.com/2025/10/02/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration-2/ and https://equity-insider.com/goh-profile CONTACT:
Equity Insider
info @athomedadDISCLAIMER: : Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity-Insider is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee of $75,000 for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.SOURCES CITED:https://www.mining.com/coppers-tight-supply-and-tariff-risks-set-for-a-volatile-2026/https://www.mining.com/how-2026-will-reshape-the-us-critical-mineral-resilience/https://www.bcg.com/publications/2026/why-ecosystems-matter-in-critical-mineral-supply-chainshttps://www.euronews.com/my-europe/2026/02/05/eu-us-and-japan-to-cooperate-on-critical-raw-materials-supply-chainsLogo - https://mma.prnewswire.com/media/2840019/5793836/Equity_Insider_Logo.jpg
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