Welcome to our dedicated page for Electra Battery Materials Corporation news (Ticker: ELBM), a resource for investors and traders seeking the latest updates and insights on Electra Battery Materials Corporation stock.
Electra Battery Materials Corporation (symbol: ELBM) is at the forefront of building North America's first fully integrated and environmentally sustainable battery materials park. As a pivotal player in the North American battery supply chain, the company focuses on providing low-carbon, sustainable, and traceable raw materials that are essential for the rapidly expanding electric vehicle industry.
Electra Battery Materials Corp is dedicated to creating a localized source of battery materials, which reduces the environmental impact and enhances the traceability of the materials used in electric vehicles. The company’s core business involves the production and supply of key battery components such as nickel, cobalt, and manganese.
Recently, Electra has made significant strides in its ongoing projects. The company’s focus is on building a battery recycling facility and advancing its cobalt refinery project, which is expected to be one of the only cobalt refineries outside of Asia. These initiatives are geared towards ensuring a steady and reliable supply of battery materials within North America, reducing dependency on international sources and fostering a more sustainable supply chain.
Electra Battery Materials Corporation maintains robust financial health, aided by strategic partnerships and collaborations with key players in the industry. The firm continues to attract investments that bolster its growth and development initiatives. Its ongoing projects include the expansion of its cobalt refinery, the development of a nickel sulfate plant, and the implementation of advanced recycling technologies.
Electra's efforts are not only pivotal in supporting the North American electric vehicle industry but also in promoting environmentally responsible practices. By prioritizing sustainability and traceability, Electra ensures that the materials supplied are not only high in quality but also ethically sourced.
For investors and stakeholders looking to stay updated on the latest developments, Electra Battery Materials provides regular updates and news releases. This ensures transparency and keeps the market informed about the company’s progress and future plans.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) announced the acquisition of a cobalt property near its Idaho projects, enhancing its portfolio in the Idaho Cobalt Belt, which hosts the largest unmined cobalt resource in the U.S. The acquisition includes a 5.3 km² land package adjacent to the Iron Creek deposit, with historic drilling showing promising results, such as 6.25 meters at 0.51% cobalt. The deal, valued at US$1.5 million, involves milestones over ten years. Electra aims to strengthen domestic cobalt supply amid rising EV market demand.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) announced the successful closing of its overnight-marketed public offering, raising approximately
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) reported the voting results of its 2022 annual meeting held on November 10 in Toronto. A total of 6,708,848 shares (20.5% of outstanding shares) were represented. All items proposed were approved, including the re-appointment of KPMG as auditors. Five director nominees were elected with support percentages ranging from 93.14% to 98.55%. Additionally, shareholders approved the 2022 Long-Term Incentive Plan and a new Employee Share Purchase Plan, both awaiting final acceptance from the TSX Venture Exchange.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) reported its Q3 2022 financial results, showing significant advancements in its operations. Key highlights include a definitive supply agreement with LG Energy Solution for 7,000 tonnes of battery-grade cobalt starting in 2023 and substantial progress in recommissioning its battery materials refinery. Electra's cash and marketable securities decreased to $19.7 million, while total costs for refinery construction were $18.8 million. The company anticipates the launch of a black mass recycling demonstration plant and further exploration for cobalt in Idaho.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) has announced a public offering of Units priced at
Electra Battery Materials Corporation (NASDAQ: ELBM) has announced an overnight-marketed public offering of Units, comprising one common share and one full warrant, targeting gross proceeds of up to US$8 million (~C$11 million). The offering is to be led by Cantor Fitzgerald Canada Corporation and is set to close around November 15, 2022, subject to regulatory approvals. Proceeds will be allocated for capital expenditures linked to the expansion and recommissioning of the company's cobalt refinery. The preliminary prospectus supplement has been filed in Canada and with the US SEC.
Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) will release its Q3 2022 financial results after market close on November 9, 2022. A conference call and webcast will follow on November 10, 2022, at 9:00 am ET to review performance and outlook. Additionally, Electra will hold its Annual General and Special Meeting of Shareholders on November 10, 2022, at the Sheraton Centre in Toronto, starting at 11:00 am EST. Electra focuses on low-carbon battery materials, including a cobalt sulfate refinery and battery recycling initiatives.
Electra Battery Materials Corporation (NASDAQ: ELBM) has commenced commissioning of its black mass recycling demonstration plant in Ontario, following the installation of key systems. This initiative aims to recycle lithium-ion battery materials, supporting a closed-loop supply chain for automakers. The project plans to process up to 75 tonnes of material, recovering valuable elements like nickel and cobalt. Full commissioning is expected by spring 2023, with potential expansion to a larger processing facility based on project success, leveraging low-carbon processes powered mainly by hydroelectricity.
Electra Battery Materials Corporation (NASDAQ: ELBM) has entered a three-year agreement with LG Energy Solution to supply 7,000 tonnes of battery-grade cobalt from 2023 to 2025. This marks a significant milestone as it is North America's only cobalt sulfate refinery. Electra will provide 1,000 tonnes in 2023 and 3,000 tonnes in 2024 and 2025 under a pricing mechanism. The deal aims to strengthen the North American EV supply chain, supporting the growing demand for sustainable materials in electric vehicle production. Financial specifics of the agreement were not disclosed.
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