Welcome to our dedicated page for Electra Battery Materials news (Ticker: ELBM), a resource for investors and traders seeking the latest updates and insights on Electra Battery Materials stock.
Electra Battery Materials Corporation (ELBM) regularly issues news updates focused on the development of its cobalt sulfate refinery, critical minerals processing activities, and related battery materials initiatives in North America. Company news often centers on construction milestones at its planned cobalt sulfate refinery in Temiskaming Shores, Ontario, which Electra describes as North America’s first and only cobalt sulfate refinery. These updates cover topics such as construction reactivation, tender packages for mechanical and electrical work, and progress on site infrastructure and engineering.
Another major theme in Electra’s news flow is project financing and capital markets activity. The company has reported government funding commitments from multiple levels of government in the United States and Canada, private financing arrangements, and the establishment of an at-the-market equity offering program under a U.S. registration statement. These announcements provide context on how Electra plans to fund construction and commissioning of its refinery and related initiatives.
Electra’s news releases also highlight its broader critical minerals strategy, including work on its Iron Creek cobalt-copper project and surrounding properties in Idaho’s Cobalt Belt, bench-scale testing of North American feedstocks, and collaboration with research partners such as the Centre to Advance the Science of Exploration to Reclamation in Mining (CASERM). Additional updates describe efforts in black mass recycling, evaluation of nickel refining opportunities, and supply chain cooperation agreements, such as its agreement with Positive Materials Inc. related to precursor cathode active material.
Investors and observers can expect ELBM news to feature construction progress, financing developments, exploration and technical programs, supply and offtake arrangements, and participation in industry forums on critical minerals and battery materials. For those tracking the evolution of North American critical minerals infrastructure, Electra’s news feed offers ongoing insight into the company’s projects and strategic positioning.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) announced the successful closing of its overnight-marketed public offering, raising approximately
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) reported the voting results of its 2022 annual meeting held on November 10 in Toronto. A total of 6,708,848 shares (20.5% of outstanding shares) were represented. All items proposed were approved, including the re-appointment of KPMG as auditors. Five director nominees were elected with support percentages ranging from 93.14% to 98.55%. Additionally, shareholders approved the 2022 Long-Term Incentive Plan and a new Employee Share Purchase Plan, both awaiting final acceptance from the TSX Venture Exchange.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) reported its Q3 2022 financial results, showing significant advancements in its operations. Key highlights include a definitive supply agreement with LG Energy Solution for 7,000 tonnes of battery-grade cobalt starting in 2023 and substantial progress in recommissioning its battery materials refinery. Electra's cash and marketable securities decreased to $19.7 million, while total costs for refinery construction were $18.8 million. The company anticipates the launch of a black mass recycling demonstration plant and further exploration for cobalt in Idaho.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) has announced a public offering of Units priced at
Electra Battery Materials Corporation (NASDAQ: ELBM) has announced an overnight-marketed public offering of Units, comprising one common share and one full warrant, targeting gross proceeds of up to US$8 million (~C$11 million). The offering is to be led by Cantor Fitzgerald Canada Corporation and is set to close around November 15, 2022, subject to regulatory approvals. Proceeds will be allocated for capital expenditures linked to the expansion and recommissioning of the company's cobalt refinery. The preliminary prospectus supplement has been filed in Canada and with the US SEC.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) will release its Q3 2022 financial results after market close on November 9, 2022. A conference call and webcast will follow on November 10, 2022, at 9:00 am ET to review performance and outlook. Additionally, Electra will hold its Annual General and Special Meeting of Shareholders on November 10, 2022, at the Sheraton Centre in Toronto, starting at 11:00 am EST. Electra focuses on low-carbon battery materials, including a cobalt sulfate refinery and battery recycling initiatives.
Electra Battery Materials Corporation (NASDAQ: ELBM) has commenced commissioning of its black mass recycling demonstration plant in Ontario, following the installation of key systems. This initiative aims to recycle lithium-ion battery materials, supporting a closed-loop supply chain for automakers. The project plans to process up to 75 tonnes of material, recovering valuable elements like nickel and cobalt. Full commissioning is expected by spring 2023, with potential expansion to a larger processing facility based on project success, leveraging low-carbon processes powered mainly by hydroelectricity.
Electra Battery Materials Corporation (NASDAQ: ELBM) has entered a three-year agreement with LG Energy Solution to supply 7,000 tonnes of battery-grade cobalt from 2023 to 2025. This marks a significant milestone as it is North America's only cobalt sulfate refinery. Electra will provide 1,000 tonnes in 2023 and 3,000 tonnes in 2024 and 2025 under a pricing mechanism. The deal aims to strengthen the North American EV supply chain, supporting the growing demand for sustainable materials in electric vehicle production. Financial specifics of the agreement were not disclosed.
Electra Battery Materials Corporation (NASDAQ: ELBM) announced a scoping study for an integrated EV battery materials facility in Ontario, aimed at refining nickel, cobalt, and manganese while recycling battery materials. The project could produce 10,000 tonnes of battery-grade nickel sulfate annually, supporting the production of up to 250,000 electric vehicles. Estimated capital costs are between $550 and $650 million, with operating costs of $125 to $133 million per year. The facility aims to reduce reliance on foreign minerals and is backed by significant GDP contributions during construction and operations.
On August 2, 2022, Electra Battery Materials Corporation announced positive developments at its Ruby prospect in the Idaho Cobalt Belt. An Induced Polarization survey identified a strong anomaly indicating potential mineralization. Initial drilling revealed similarities to the nearby Iron Creek deposit, with 824 meters drilled and further drilling planned. Cobalt mineralization samples have shown promising grades, with results expected by Q3 2022. The Ruby prospect is part of Electra's strategy to strengthen the electric vehicle supply chain by sourcing critical minerals domestically.