Electra and WMC Sign Term Sheet for Working Capital and Exclusive Marketing of Ontario Cobalt Refinery

Published: Oct 16, 2026 16:23 (GMT+8)
【Electra and Dutch Trader WMC Sign Term Sheet for Ontario Cobalt Refinery Financing and Marketing】Canadian battery materials company Electra Battery Materials and commodity trader WMC Group AG have signed a five-year term sheet under which WMC will provide working capital and commercial support for Electra’s cobalt refinery in Temiskaming Shores, Ontario. Under the arrangement, WMC will finance cobalt feedstock procurement and corresponding battery-grade cobalt sales up to the refinery’s nameplate capacity, serve as the buyer and exclusive marketing agent for the facility’s cobalt sulfate output, and commit to investing in Electra upon execution of definitive agreements. The arrangement supplements Electra’s existing supply agreement with LG Energy Solution. Closing remains subject to completion of due diligence, execution of definitive agreements, and receipt of regulatory and creditor approvals.

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