Business
Electra Provides Update on 2024 Activities and Files 2024 Financials
TORONTO, March 31, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM...
About this update from Electra Battery Materials Corp
[{"type":"text","content":"Electra Provides Update on 2024 Activities and Files 2024 Financials\n\n\n\n TORONTO, March 31, 2025 (GLOBE NEWSWIRE) --\n \n Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM)\n \n (“Electra” or the “Company”) today confirmed the filing of their consolidated financial statements for the three months and year ended December 31, 2024, on Friday, March 28, 2025, and provides an update on its 2024 activities.\n \n\n “2024 was an important year for Electra as we built momentum across all areas of our business,” said Trent Mell, CEO of Electra. “With more than US$50 million in non-dilutive funding arranged to date, including committed and conditional capital, we are making strides towards resuming construction and commissioning of North America’s first, and only, cobalt sulfate refinery. This funding amounts to the majority of the total capital required to complete construction.”\n \n\n Mell continued, “We also made tremendous progress in our battery recycling program last year, having now successfully produced high-purity lithium carbonate and a nickel and cobalt product from black mass that meets and exceeds market specifications. Our joint venture with the Three Fires Group, Aki Battery Recycling to establish a primary treatment facility to process batteries into a steady source of black mass feed for our refinery represents the next phase in our commitment to sustainable innovation.\n \n\n “Our exploration efforts in the Idaho Cobalt Belt continue to uncover promising opportunities, including newly identified zones of mineralization and the addition of nearly 100 fully permitted drill pads,” Mell concluded. “This progress reinforces the value of our strategic land position in one of North America's most prospective regions for critical minerals—aligned with growing U.S. priorities around domestic supply chain security.”\n \n\n Electra CFO, Marty Rendall added, “Our success in attracting strategic capital and government-backed funding reflects the strength of Electra’s business model and our commitment to disciplined capital management. With most long-lead equipment delivered, we are well positioned to complete construction of our refinery. Completion of full project financing will create a clear pa...