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Electra Battery Materials Corp ( (TSE:ELBM) ) has issued an update.
Electra Battery Materials Corporation has initiated a feasibility study to develop a battery recycling refinery near its cobalt refinery in Ontario, Canada. This initiative, leveraging their proprietary hydrometallurgical process, aims to create a closed-loop system with North American battery manufacturers, enhancing the domestic supply chain and reducing dependency on Asian refiners. The project builds on Electra’s year-long trial in black mass recycling and partnership with the Three Fires Group to process battery scrap. The study, supported by Green Li-ion, could lead to the purchase of processing equipment for the Ontario site and further solidify Electra’s position in sustainable battery material solutions.
More about Electra Battery Materials Corp
Electra Battery Materials Corporation operates in the battery materials sector, focusing on the production and recycling of critical minerals such as lithium, nickel, and cobalt. The company aims to enhance the North American supply chain for battery materials, reducing reliance on imports, particularly from Asia.
YTD Price Performance: -20.38%
Average Trading Volume: 12,430
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$31.98M
Learn more about ELBM stock on TipRanks’ Stock Analysis page.
