The Pentagon announced a $20m grant to help build a cobalt refinery in Ontario, focusing on creating a robust industrial base for the growing demand for cobalt.
Cobalt has emerged as a key precursor material for batteries in electric vehicles and military hardware, with the US seeking to diversify its supply chain.
The investment will aid in constructing North America's only cobalt sulfate refinery, aimed at reducing China's control over critical minerals processing.
Electra Battery Materials has an agreement with LG Energy Solution to deliver 80% of its cobalt sulfate production for the first five years, emphasizing strategic partnerships.
#cobalt #us-military-investment #canada-mining-sector #supply-chain-diversification #electric-vehicle-batteries
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