Starting in 2026, Luxembourg-based Eurasian Resources Group will deliver 3,000 tonnes annually of IRA-compliant cobalt from its Metalkol operation in the Democratic Republic of Congo to Electra Battery Materials’ refinery north of Toronto, Canada.
The three-year supply agreement, effective April 1, supports Canadian efforts to onshore the battery supply chain and reduce reliance on foreign refiners.
“Partnering with a recognized leader in sustainable mining practices is essential for Electra to produce secure, clean, and ethically sourced battery materials,” said Electra CEO Trent Mell.
“Electra’s Canadian refinery is uniquely positioned as North America’s first cobalt sulfate refinery, with IRA-compliant feedstock to support growing EV demand. We are very proud to have [Eurasian Resources], one of the best cobalt hydroxide suppliers in the world, as a partner.”
Further collaboration with Eurasian Resources is under consideration as Electra looks to build a cobalt refinery in Bécancour, Quebec.
Electra previously announced a five-year offtake agreement with LG Energy Solution for up to 80% of production; demand for the remaining production far exceeds production capacity.
Source: Electra Battery Materials