How to resolve AdBlock issue? Electra plans for battery materials park for EVs on schedule
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- May 31, 2022
Toronto’s Electra Battery Materials Corp. says it’s making headway in developing a low carbon, fully-integrated battery materials park for the North American electric vehicle industry.
The Electra Battery Materials Park will host cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production, which will serve both North American and global customers.
“Despite supply chain disruptions and inflationary price pressures caused by the lingering effects of the global pandemic and recent geopolitical developments Electra made considerable progress in Q1, advancing the construction of our expanded cobalt refinery,” said Trent Mell, CEO of Electra Battery Materials Corporation. “Most notably, we received our Industrial Sewage Works permit, started construction of the solvent extraction plant, and received approval of our Closure Plan. Completion of these milestones paves the way for the commissioning of our refinery expansion in Q4 2022, consistent with our expected timelines.”
Electra has kept the project on schedule to commence dry commissioning in December, despite global supply chain disruptions. Cost pressures have emerged from systemic inflation, constrained global supply chains and the sanctions on trade with Russia, increasing the average cost of project inputs, such as steel, copper, nickel and freight rates, all of which have put the original budget at risk. Labour and contractor rates are also higher with recent 8 to 9% wage settlements with construction trades, as well, a number of concurrent development projects in Canada have created a very competitive market for experienced trades.
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