Nasdaq- and TSX-V-listed Electra Battery Materials on Wednesday announced the completion of its early works programme at its cobalt refinery north of Toronto.

This milestone strengthens Electra’s readiness to restart full construction and shortens the ramp-up time required for mobilising a full construction crew, reaffirming the company’s commitment to onshoring North America’s critical minerals processing and building a resilient, domestic battery materials supply chain.

The early works programme focused on several targeted site-level activities designed to prepare for the restart of full-scale construction. The initiative, supported by strategic government funding, focused primarily on advancing the solvent extraction (SX) facility, a key step in producing high-purity, battery-grade cobalt.

“This milestone brings us closer to resuming full construction of the refinery,” said Electra VP for projects Mark Trevisiol. “By completing these preparatory works and advancing long-lead procurement, we are positioning the refinery for efficient and timely execution once construction resumes.”

Key activities included concrete foundation work for SX tanks, installation of processing equipment, structural roofing and upgrades to power, lighting, and septic systems. Engineering and procurement activities were also advanced to support readiness for full construction.

“We are positioning Electra to be a foundational part of North America’s energy future,” added CEO Trent Mell. “This milestone reflects disciplined execution and steady progress toward delivering a reliable supply of cobalt for the North American market and long-term value creation for all stakeholders.”

Electra’s refinery is the only project in North America designed to produce battery-grade cobalt sulphate at scale.

Last month, Electra announced it would slash its convertible debt by 60% and raise $30-million in new equity financing to shore up its balance sheet.

The company reached a support agreement with its lenders to convert about $40-million of notes and accrued interest into equity at $0.60 a share, reducing outstanding debt under the notes to about $27-million. The remainder will be rolled into a new three-year term loan.