US Gives Tiny Canadian Firm $20 Million to Build Cobalt Plant

Canada’s Electra Battery Materials Corp.has received a $20 million award from the US government to build a cobalt plant close to North America’s automotive heartland.

The funds will support construction of a cobalt sulfate facility in Ontario that will be North America’s only refinery for the material used in lithium-ion batteries for electric vehicles, Electra said Monday in a statement. The $250 million project is about 500 kilometers (310 miles) north of Toronto at Temiskaming Shores.

The US Defense Departmentsaid separatelythat the award will help develop North American production of a key material for large capacity ...