Luxembourg multinational Eurasian Resources Group has struck a deal with Electra Battery Materials to provide ethically sourced cobalt feed from the Democratic Republic of Congo (DRC) starting in 2026. This agreement will see 3,000 tonnes of cobalt hydroxide annually shipped from ERG’s Metalkol operation in the DRC to Electra’s refinery project in Temiskaming, Ontario.
Electra’s CEO, Trent Mell, highlighted the importance of partnering with a responsible miner like ERG to ensure a secure, clean, and ethically sourced battery material supply. ERG’s CEO, Benedikt Sobotka, emphasized their commitment to supporting the green energy revolution and sustainable mining practices.
Electra is striving to become the first cobalt refiner in North America and has already secured a contract with South Korean battery maker LG Energy Solution. Despite these milestones, Electra is facing challenges in raising the necessary funds to complete the construction of the refinery in Temiskaming.
The completion timeline for the refinery project remains uncertain as Electra continues to seek financial support. However, plans are underway for Electra to establish a second cobalt refinery in Bécancour, Quebec, as part of an emerging critical minerals processing park on the St. Lawrence River.
As the demand for battery materials continues to grow with the rise of electric vehicles, partnerships like the one between Electra and ERG are crucial in ensuring a sustainable and ethical supply chain for the industry. With a focus on responsible mining practices and environmental stewardship, these companies are setting a positive example in the global battery market.
