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Electra Increases Capacity of its Canadian Battery Materials Refinery
Electra Increases Capacity of its Canadian Battery Materials Refinery Canada Ne...
About this update from Electra Battery Materials Corp
[{"type":"text","content":"\n \n \n \n Electra Increases Capacity of its Canadian Battery Materials Refinery\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Provides Update on Phase 1 of Battery Materials Park\n \n \n \n \n \n TORONTO\n \n ,\n \n Nov. 10, 2021\n \n /CNW/ -\n \n Electra Battery Materials Corporation\n \n (TSXV: FCC) (OTCQX: FTSSF)\n \n \n (the \"Company\") provided an update on the expansion and recommissioning of its hydrometallurgical refinery in\n \n Canada\n \n , announcing a 30% increase in the design capacity of its cobalt refinery. First production is scheduled for Q4 2022, as part of a phased approach to create the only battery materials park in\n \n North America\n \n , providing automakers with direct access to battery-grade nickel and cobalt, recycled battery material and precursor material.\n \n \n \n HIGHLIGHTS\n \n \n \n \n In response to strong customer demand, Electra will invest in additional capacity for its crystallizer circuit, which will result in installed capacity of 6,500 tonnes of annual cobalt production, a 30% capacity increase from the feasibility study design of 5,000 tonnes\n \n \n Commissioning of the cobalt refinery remains on schedule for Q4 2022\n \n \n Project control budget for the larger circuit is\n \n US$67 million\n \n , which can be funded from treasury, compared to a feasibility study estimate for a smaller plant of\n \n US$60 million\n \n \n \n Ground excavation has commenced for a new solvent extraction facility and contracts have been awarded for the foundations and building construction\n \n \n Previously announced MoU with IXM SA for cobalt hydroxide feed material has been formalized as an executed contract\n \n \n Replay of\n \n November 8\n \n investor call discussing new corporate strategy and name change from First Cobalt to Electra Battery Materials is now available on the Company's website\n \n \n \n Due to client feedback and a strong demand outlook for battery-grade cobalt, Electra Battery Materials will increase its investment in its low carbon Ca...