TORONTO, Feb. 10, 2022 /CNW/ - Electra Battery
Materials Corporation (TSXV: ELBM) (OTCQX:
ELBMF) ("Electra") is pleased to announce it has
received its Industrial Sewage Works permit and has filed its final
Closure Plan for its refinery expansion project.
Completion of these regulatory milestones associated with the
restart of the Company's hydrometallurgical facility is an
important step in the execution of Electra's strategic business
plan, which includes the integration of the Refinery into a larger
battery materials park located on Company land in Ontario, Canada.
HIGHLIGHTS
- Industrial Sewage Works Environmental Compliance Approval was
issued by the Ontario Ministry of the Environment, Conservation and
Parks
- The Company was invited to file its Final Closure Plan for the
Refinery, which was formally submitted on January 19, 2022. This is subject to a 45-day
review period beginning from that date by the Ontario Ministry of
Northern Development, Mines, Natural Resources and Forestry
- The Company will amend its existing permit to take water to
ensure alignment of volumes across all operating permits
"Achieving these important regulatory milestones is a critical
step as we bring North America's
only cobalt sulfate refinery online this year," said Trent Mell, CEO. "Throughout the permitting
process, we have consulted and worked closely with our stakeholders
including Indigenous communities, neighbours, and local
governments. Electra is committed to being an industry leader with
respect to ESG practices, which will be reflected in how we engage
with stakeholders and how we run our operations with a view to
minimizing our impact on the environment."
As part of the regulatory roadmap required to restart the
Refinery, Electra was invited to file its final Closure Plan with
the Ministry of Northern Development, Mines, Natural Resources and
Forestry. A closure plan outlines how the affected land will
be rehabilitated and the costs associated with doing so. As part
the formal filing process, financial assurance covering the total
estimated costs of all future closure activities has been posted
with the Ministry. Electra does not anticipate that any substantive
issues will be raised during the 45-day review period.
The receipt of the Industrial Sewage Works Environmental
Compliance Approval (ECA) is a major achievement for the
Company. It governs how process water and tailings will be
managed to ensure the environment is protected. In
conjunction with securing this ECA, in the coming days Electra will
be filing an amendment to its current permit to take water. The
amendment will align the volumes in the water permit to those
included in the final approved Industrial Sewage Works
ECA.
The Company's cobalt sulfate refinery is on schedule to commence
commissioning in 2022. This facility is the first phase in
Electra's four-phase Battery Materials Park strategy. In the coming
years, Electra intends to build further processing capacity for the
recycling of primary and secondary battery scrap materials,
production of nickel sulfate and precursor cathode active material
(PCAM) production.
About Electra Battery Materials
Electra is building North
America's only fully integrated, localized and
environmentally sustainable battery materials park. Leveraging the
Company's own mining assets and business partners, the Electra
Battery Materials Park will host cobalt and nickel sulfate
production plants, a large-scale lithium-ion battery recycling
facility, and battery precursor materials production, which will
serve both North American and global customers. Electra also owns
the advanced exploration-stage Iron Creek cobalt-copper project in
Idaho, USA. Electra Battery
Materials is an integral part of the North American battery supply
chain, providing low-carbon, sustainable and traceable raw
materials for the region's fast growing electric vehicle
industry.
On behalf of Electra Battery Materials Corporation.
Trent Mell
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking
Statements
This news release may contain forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as "plans",
"expects', "estimates", "intends", "anticipates", "believes" or
variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "occur" or "be
achieved". Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results, performance, and
opportunities to differ materially from those implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from these forward-looking statements are set
forth in the management discussion and analysis and other
disclosures of risk factors for Electra Battery Materials
Corporation, filed on SEDAR at www.sedar.com. Although Electra
Battery Materials Corporation believes that the information and
assumptions used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed times frames or at all. Except where required by
applicable law, Electra Battery Materials Corporation disclaims any
intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
SOURCE Electra Battery Materials Corporation