Ivanhoe Electric owns or holds stakes in nine electric metals developments across the US, including the Santa Cruz copper project in Arizona and its Tintic project in Utah.

Competition is becoming more fierce as supplies fall short of demand, forcing some automakers to change the way they source raw materials.

Redwood said it will build a $3.5 billion battery materials campus in Ridgefield.

During the first 10 months of the year, the global market was in a surplus of 78,300 tonnes compared with a deficit of 163,600 tonnes in the same period of 2021.

The ebullient outlook the CEO offered during the carmaker’s last earnings call has given way to price and production cuts in China.

Company is around a year behind schedule to reach an annual capacity of 40,000 t because of supply chain delays.

Langis, on the north shore of Lake Timiskaming, is about 20 km from Electra Battery Materials’ refinery for cobalt.