Canada's First Cobalt Corp will expand its Ontario facilities to produce a range of precursor battery materials and to recycle lithium-ion batteries, it said.
The Toronto-listed cobalt producer, which is North America's only cobalt refinery, also plans - subject to shareholder approval - to change its name to Electra Battery Materials to better reflect its new strategy, it also said.
First Cobalt will expand its Ontario base to produce battery grade cobalt sulfate and nickel sulfate as well as recycling lithium-ion batteries in a four-phase expansion process, it said.
The expansion plan was first tabled back in March 2020 - the company entered into preliminary discussions with government officials in July...