Electra Battery Materials Corp (TSE:ELBM) has released an update.
Electra Battery Materials Corp has filed its Q1 2024 financial reports, emphasizing their commitment to non-dilutive funding for completing their Ontario cobalt sulfate refinery, while managing financial resources efficiently. The company is also exploring growth opportunities, including a potential second cobalt refinery in Quebec, and a joint venture to recycle battery materials to reduce reliance on China’s cobalt production. Electra’s projects aim to support the North American EV battery market and could eventually supply cobalt for approximately 1 million electric vehicles per year.
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