Electra Battery Materials has extended its cobalt hydroxide supply agreement with Glencore through December 31, 2031, securing feedstock for its cobalt sulfate refinery in Ontario.
The five-year extension provides approximately 10,000 metric tonnes of contained cobalt, valued at over $500 million at current market prices. The deal ensures 100% of the feedstock required for commissioning and ramp-up of the refinery through 2027, aligning with Electra’s operational timeline.
Electra’s Ontario facility, with an initial designed capacity of 5,120 tonnes per annum of contained cobalt, is slated for mechanical completion and commissioning in 2027. The refinery’s crystallizer nameplate capacity reaches up to 6,500 tonnes per annum.
The agreement complements Electra’s March 2026 term sheet with LG Energy Solution, which commits to purchasing approximately 60% of the refinery’s planned cobalt sulfate production through 2029, with an option to extend to 2032. The commercial relationship between Electra and Glencore dates back to 2021.
Michael Insulan, Electra’s Vice President of Commercial, stated the extension ensures the supply required to bring the refinery into operation and advance to full production.
