Electra Battery Materials Corp (TSE:ELBM) has released an update.
Electra Battery Materials Corp has been awarded a $20 million grant from the U.S. Department of Defense to support the construction of North America’s sole cobalt sulfate refinery for lithium-ion batteries. This refinery, which aims to reduce reliance on Chinese-produced cobalt, is expected to produce materials for over 1 million EVs annually and significantly strengthen the North American battery supply chain.
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