Electra Moves Cobalt Refinery Build Forward with Major Construction Tender

Rhea-AI Summary

Electra (NASDAQ: ELBM) issued a major SMPEI tender on Nov 10, 2025 to advance full construction of its cobalt sulfate refinery in Temiskaming Shores, Ontario. The package covers mechanical, piping, electrical, instrumentation and utility connections and signals a transition from early works to sustained construction mobilization. The company said engineering and procurement are well advanced, most long-lead equipment is on site, and a Construction Reactivation Program is underway supported by project financing. The tendered scope is intended to enable system integration ahead of a targeted 2027 commissioning.

TORONTO, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”), a leader in advancing North America’s critical minerals processing, announces the issuance of a major mechanical, piping, electrical and instrumentation (“SMPEI”) tender package as part of its refinery construction works in Temiskaming Shores, Ontario. The issuance of this tender marks another important milestone as Electra transitions from early works to full construction mobilization.

The tender covers the installation of critical processing systems at what will be North America’s first cobalt sulfate refinery. The scope includes structural, mechanical, piping, electrical, instrumentation and utility connections, core elements required to physically integrate the refinery’s key systems. Issuing the SMPEI tender reflects the Company's readiness to advance into sustained construction activity following extensive engineering and procurement.

“Tendering the SMPEI package paves the way for full construction activities,” said Paolo Toscano, Vice President, Projects & Engineering. “With engineering and procurement well advanced, we remain focused on safely executing installation activities that will move us closer to commissioning.”

The Company recently commenced its Construction Reactivation Program at the site, supported by project financing, permitting, and with the majority of long-lead equipment procurement completed. With core infrastructure already in place and major components on site, the tendered work will enable the integration and installation of the refinery’s mechanical systems ahead of its targeted commissioning in 2027.

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 Smiles
Vice President, Investor Relations & Corporate Development
Electra Battery Materials
info@ElectraBMC.com
1.416.900.3891

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 and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. 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”. Forward-looking statements are based on certain assumptions, and 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. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. 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, filed on SEDAR+ at www.sedarplus.com and with EDGAR at www.sec.gov. Other factors that could lead actual results to differ materially include changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic and other trends that can affect levels of government or private investment. Although the Company 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, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

FAQ

What did Electra (ELBM) announce on November 10, 2025 about its Temiskaming Shores refinery?

Electra issued a major SMPEI tender for mechanical, piping, electrical and instrumentation work to move into full construction mobilization.

How does the SMPEI tender affect ELBM's project timeline and commissioning date?

The tender supports sustained construction activities to enable system integration ahead of a targeted 2027 commissioning.

What scope is included in Electra's SMPEI tender for ELBM's refinery?

The tender covers structural, mechanical, piping, electrical, instrumentation and utility connections for the refinery.

Has Electra started on-site work and equipment procurement for the ELBM refinery?

Yes; Electra has commenced a Construction Reactivation Program, reports most long-lead equipment on site, and says engineering and procurement are well advanced.

Is there financing in place for Electra's Temiskaming Shores refinery construction (ELBM)?

The company states the Construction Reactivation Program is supported by project financing, without disclosing amounts in this announcement.

What is the significance of the SMPEI tender for Electra shareholders (ELBM)?

The SMPEI tender signals a move from early works to full construction mobilization, enabling installation of core systems ahead of the planned 2027 commissioning.