March 14, 2023
Electra Battery Materials Corp. (TSXV:ELBM, BUY, C$9.40 target, David A. Talbot) announced that it has successfully produced lithium carbonate from lithium recovered in its plant-scale black mass recycling program being conducted at its refinery north of Toronto. The trials had earlier successfully recovered cobalt, manganese and nickel from black mass (read more). The addition of lithium to the list of potentially saleable elements validates the company’s proprietary hydrometallurgical extraction process and should improve the economics of its battery recycling strategy. Other critical materials that black mass contains are graphite and copper. With the trials being extended till Jun/23, the company is currently in discussions with vendors for a supply of black mass and is planning to sell the recovered material to third-party companies for additional processing and re-use in several applications. We expect the company to incorporate these results into engineering studies to assess the capital costs for a permanent recycling facility. We also look forward to further advancement from Electra’s cobalt refinery in Ontario, and Iron Creek Cu-Co project in Idaho, where a recent mineral resource estimate update was announced (read more) and further drilling is planned. Read more
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Electra Battery Materials Corp. – TSXV:ELBM – 1,2,3
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