Electra and LG Energy Solution Update Multi-Year Cobalt Supply Agreement

Published: Mar 10, 2026 08:00

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Canadian battery materials company Electra Battery Materials has updated and signed a binding long-term cobalt supply agreement with global lithium-ion battery manufacturer LG Energy Solution, reaffirming their continued partnership. Under the new agreement, LG Energy Solution will secure 60% of the output from Electra’s cobalt sulfate refinery in Ontario, Canada, through 2029, with an option to extend the contract to 2032. The remaining approximately 40% of capacity remains uncommitted, providing Electra with greater flexibility to capture potential upside during future pricing cycles. The refinery, currently under construction, is set to become North America’s first battery-grade cobalt sulfate facility.

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