Building North America's Critical Minerals Supply Chain
Electra is building the only cobalt sulfate refinery on the continent, which is one of only two located outside of Chinese control today.
The significance of the refinery is that it provides an opportunity to supply materials that are currently almost entirely dominated by "mostly one supplier". Electra's vision is to be the first, starting with cobalt, to respond to "an imminent need in western society". The successful completion of the refinery will allow the company to meet the market demand for battery-grade cobalt sulfate. Additionally, the refinery will "set a base" and be the "foundation for future growth," enabling the company to pursue other ventures like recycling, nickel, and mining.