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Electra Commences Early Works to Support Restart of North America's Only Cobalt Refinery

TORONTO, June 19, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ:ELBM, TSXV:ELBM) ("Electra" or the "Company") announces the launch of an early works program at its cobalt refinery north of Toronto, 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 program encompasses targeted site-level activities designed to prepare for the restart of full-scale construction. The initiative reflects growing momentum around the project, supported by strategic funding from both the U.S. and Canadian governments. The work, budgeted at approximately C$750,000, is particularly focused on advancing the solvent extraction facility.

"The early works program represents a critical step in transitioning the refinery site back to construction mode," said Mark Trevisiol, Vice President, Projects at Electra. "By focusing on key infrastructure, particularly in the SX area, we are ensuring the site is ready for a seamless ramp-up as soon as full funding is in place."

Work scheduled over the summer will focus on advancing high-priority activities in the solvent extraction (SX) area, which is a key component of Electra's hydrometallurgical refining circuit. Crews will relocate and install SX processing equipment previously delivered to site, pour reinforced concrete bases for the SX tanks, and complete structural roofing work on the SX building. In parallel, tender preparation and engineering support activities will proceed to facilitate the transition to full construction. These works follow a C$200,000 investment earlier this year into the septic, power and lighting systems, as well as the recent delivery and placement of the site's prefabricated electrical house, all further enhancing construction readiness.

"This project reflects our disciplined approach to advancing the refinery project," said Electra CFO, Marty Rendall. "The early works program enables us to build critical infrastructure and maintain project momentum while we work to finalize the remaining elements of our funding package."

The early works initiative is partially supported by a US$20 million award ...