Electra Battery Materials has signed a nickel and cobalt materials offtake agreement with Glencore for product from the firm’s lithium-ion battery recycling plant being built in Canada.
Under the agreement, Glencore will purchase the nickel and cobalt products from 2023 until the end of 2024 on market-based terms.
Electra plans to operate a hydrometallurgical refinery demonstration plant in 2022 using existing equipment and commission its commercial plant the following year.
The offtake contract covers the production of nickel and cobalt from refining of black mass feed generated from lithium-ion batteries.
Electra is in lithium, copper and graphite offtake contract discussions with other parties.
Trent Mell, Electra’s CEO said: “This is another step in de-risking our Battery Materials Park project. By securing an offtake for our recycled nickel and cobalt production at market rates, we can now continue to focus on construction and operational readiness for Phase 1 and Phase 2.”