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  • September 23, 2022
  • Industry News
Temiskaming refinery builder inks supply deal with global battery maker

Electra Battery Materials signs three-year contract with LG Energy Solution

Temiskaming refinery developer Electra Battery Materials has signed a three-year cobalt supply agreement with LG Energy Solution (LGES), one of the world’s largest manufacturers of lithium-ion batteries.

It’s Electra’s first commercial agreement to supply cobalt sulfate from its Temiskaming refinery, now under construction and expected to start production next spring.

Electra has agreed to supply South Korean-based LG with 7,000 tonnes of battery- grade cobalt from 2023 to 2025. Broken down, that’s 1,000 tonnes of cobalt contained in a cobalt sulfate product in 2023 and 3,000 tonnes in each of 2024 and 2025 under an agreed pricing mechanism.

Read the entire article from Northern Ontario Business

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