Electra Battery Materials (NASDAQ: ELBM; TSX-V: ELBM) commends the Ontario government for its C$500 million Critical Minerals Processing Fund, unveiled in the 2025 provincial budget last week. The company states that the investment commitment represents a significant step toward building a domestic, vertically integrated supply chain for clean energy technologies.
Electra is leading the effort to advance North America’s critical minerals supply chain for lithium-ion batteries. Currently focused on developing North America’s only cobalt sulfate refinery, Electra is executing a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains.
Electra officials have stated that prioritizing critical mineral processing in Ontario will strengthen local industry capabilities and accelerate the development of strategic mineral processing projects that feed directly into the province’s growing electric vehicle and battery manufacturing ecosystem. The fund is expected to create economic opportunities in key Northern Ontario communities and support the growth of clean energy and electric vehicle manufacturing — outcomes that align closely with Electra’s mission to build a sustainable North American battery materials supply chain.
Trent Mell, CEO and director of Electra, said: “As the global race to secure critical mineral supply chains intensifies, the need for a North America-first approach has never been clearer. Recent U.S. policy discussions on partnerships for mineral rights, including in the Democratic Republic of Congo, underscore the strategic importance of securing domestic resources. “Electra remains at the forefront of this effort, with the only cobalt sulfate refinery on the continent, positioned to play a vital role in both new energy innovation and national security.”
Electra is committed to building a resilient and secure supply chain that supports North American energy independence in response to growing global competition, particularly in the face of China’s dominance in critical mineral processing and battery supply chains. As gigafactory timelines evolve and the clean energy market rapidly expands, Electra’s leadership in refining cobalt and other critical materials will be essential to supporting this transformation.
For more information, please visit www.ElectraBMC.com.
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