Critical minerals company Electra Battery Materials has restarted construction of its cobalt sulphate refinery in Ontario after securing about $82-million in financing, including $48-million in government support from the US, Canada, and Ontario.

The restart positions Electra to complete North America’s first cobalt sulphate refinery, reshoring midstream critical minerals processing.

“We have been building toward this moment for several years,” said CEO Trent Mell in a statement on Wednesday.

“Today, government support, private investment, and industrial policy are aligned to make completion of this refinery possible and to deliver a critical asset for North America.”

The facility is designed to produce 6 500 t/y of battery-grade cobalt sulphate, one of only two such facilities outside China. It will process feedstock supplied by Glencore and Eurasian Resources Group, and Electra also has an offtake agreement with LG Energy Solution.

Electra said it has engaged EXP to provide construction management support, with work already under way to reinstate mechanical, electrical, and instrumentation systems and ramp up site activity ahead of full construction mobilisation in early 2026.

VP of projects and engineering Paolo Toscano said the company was focused on “disciplined execution” to keep the project on schedule for commissioning in 2027.

The restart follows previously announced equity financing and government funding commitments, including support from the US Department of War, the government of Canada and Invest Ontario.

Electra also updated its 2023 re-baseline cost estimate of $60-million to reflect inflation and completed work, and plans to provide a project update in January outlining final capital, schedule and milestones.

Once complete, the Ontario refinery will supply a domestic source of high-purity cobalt sulfate for lithium-ion batteries, forming a key midstream link in a vertically integrated North American critical minerals supply chain.