Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Electra Battery Materials (TSXV: ELBM; NASDAQ: ELBM) has launched a demonstration plant designed to recover and recycle high-value elements found in lithium-ion batteries including nickel, cobalt, lithium, copper and graphite at its refinery complex north of Toronto.
Electra claims it will process up to 75 tonnes of black mass material in batches mode using its proprietary hydrometallurgical process in the demonstration plant. Electra plans to complete the demonstration plant in early 2023, while providing regular updates.
Pending the successful completion of the demonstration plant, Electra says it will assess whether to continue processing black mass throughout 2023 with material supplied by its business partners or from third parties.
“The launch of our black mass recycling demonstration plant caps a year filled with a number of significant achievements for Electra,” said Trent Mell, Electra’s CEO.
“With the outlook for electric vehicle adoption in North America becoming increasingly bullish as a result of the recent passage of the US Inflation Reduction Act and the considerable investments made by automotive companies to electrify their fleet, the need for a domestic supply of battery-grade materials supply whether through primary refining or recycling processes becomes critical,” added Mell.
