Cobalt – Marc G. Serré, Member of Parliament for Nickel Belt and Parliamentary Secretary to the Minister of Energy and Natural Resources and to the Minister of Official Languages, and Anthony Rota, Member of Parliament for Nipissing–Timiskaming, today announced that the Government of Canada is investing $5 million to support the continued expansion of Electra Battery Materials Corporation’s cobalt refinery in North Cobalt. The announcement was made on behalf of Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor.
Today’s announcement will enable Electra Battery Materials Corporation to continue the recommissioning and expansion of its hydrometallurgical cobalt refinery in North Cobalt. The facility will be the first facility of its kind in North America. Once complete, the refinery will be capable of producing cobalt for up to 1.5 million electric vehicles annually. Provided through FedNor’s Regional Economic Growth through Innovation (REGI) program, this strategic investment builds on the Government of Canada’s initial investment of $5 million, announced in 2020.
With one of the largest concentrations of mining and related businesses in Canada, Northern Ontario’s mining industry is a key economic driver that fuels social and economic growth, while creating jobs and opportunities for families throughout the region. This investment also helps advance the Canada-U.S. Joint Action Plan for Critical Minerals Collaboration, by strengthening the North American supply chain for this critical battery mineral.
“Critical minerals are an essential element of the electric vehicle supply chain. Today’s investment from the Government of Canada means that Northern Ontario will seize the economic opportunities created by Canada’s transition to a green economy. This investment also means good-paying jobs for middle-class families in the region. This is part of our plan to build an economy in Northern Ontario that works for everyone, not just the few.” – Patty Hajdu, Minister of Indigenous Services and Minister responsible for FedNor
“Building up a low-carbon economy is a generational economic opportunity for Canada. Canada has vast critical mineral resources, materials that are integral to the development of the clean technologies, like electric vehicles, we need to reduce emissions and create good jobs. By supporting companies like Electra, Canada is making the smart investments necessary to secure reliable and prosperous electric vehicle value chains and drive sustainable economic growth in communties right across Canada.” – Jonathan Wilkinson, Minister of Energy and Natural Resources