Electra Battery Materials Corporation - CEO, Trent Mell.
CEO, Trent Mell.
Source: Automotive News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Electra Battery Materials Corporation (ELBM) launched a demonstration plant near Toronto to recover and recycle high-value elements found in lithium-ion batteries
  • 75 tonnes of black mass material will be processed in a batch mode using a proprietary hydrometallurgical process
  • The demonstration plant will be complete in the company’s first financial quarter
  • The elements which will be recovered include nickel, cobalt, lithium, copper, and graphite
  • Electra Battery Materials Corporation (ELBM) is down 4.47 per cent, trading at $2.35 per share as of 2:27 p.m. EST

Electra Battery Materials Corporation (ELBM) has launched a demonstration plant to recover and recycle high-value elements found in lithium-ion batteries.

The company will process up to 75 tonnes of black mass material in a batch mode using its proprietary hydrometallurgical process in the demonstration plant. It expects to complete the demonstration plant in its first financial quarter.

The elements which will be recovered include nickel, cobalt, lithium, copper, and graphite.

Trent Mell, Electra Battery’s CEO, commented,

“With the outlook for electric vehicle adoption in North America becoming increasingly bullish… the need for a domestic supply of battery-grade materials supply, whether through primary refining or recycling processes, becomes critical.”

Electra will assess whether to continue processing black mass throughout 2023 with material supplied by its business partners or from third parties, depending on whether the demonstration plant proves successful or not.

The company’s battery recycling strategy is the second phase of a development plan for integrated battery materials parks in Ontario. It will recycle lithium batteries and produce cobalt, nickel, and manganese sulphates from primary feeds before supplying the battery-grade material to third-party manufacturers.

Electra Battery Materials Corporation (ELBM) is down 4.47 per cent, trading at $2.35 per share as of 2:27 p.m. EST.


More From The Market Herald

" Osisko Mining (TSX:OSK) announces $75 million private placement

Osisko Mining (OSK) will undertake a C$75 million bought-deal private placement.

" @ the Bell: Markets tumble amid rate worries

Canada’s main stock index was weighed down on Monday by commodity-linked and financial stocks. The telecom and utilities sectors posted some gains.
Dolly Varden Silver Corporation - President & CEO, Shawn Khunkhun.

" Dolly Varden Silver (TSXV:DV) reports highest-grade silver assay found so far on the Kitsault Valley Property

Dolly Varden Silver Corporation (DV) discovered the highest-grade silver assay found so far on the Kitsault Valley Property.

" Millennial Potash (TSXV:MLP) announces $2M private placement of units

Millennial Potash Corp. (MLP) has announced a private placement for gross proceeds of $2 million.