Temiskaming Shores, ON — Ontario is moving to solidify its position as a global leader in the electric vehicle (EV) supply chain with a $100 million investment from Electra Battery Materials to build North America’s first battery-grade cobalt refinery in Temiskaming Shores.
The new facility, backed by $17.5 million from the province’s Invest Ontario Fund, represents a significant step in Canada’s push to expand domestic critical mineral processing capacity and reduce reliance on offshore supply.
Strengthening Supply Chains Amid Tariffs
The project comes at a time when the province is grappling with U.S. tariffs and broader economic uncertainty. Officials say the investment will help protect Ontario’s workers and businesses by bolstering self-sufficiency in critical minerals and strengthening supply chains that support the auto sector.
“Under the leadership of Premier Ford, our government is building a strong, self-reliant economy that integrates Northern Ontario’s vast mineral wealth with Southern Ontario’s manufacturing might,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Electra’s investment in Temiskaming Shores will establish an integral link in the province’s critical mineral processing supply chains and fuel the next stages of Ontario’s leadership in electric vehicle battery manufacturing.”
A First for North America
Once operational, the refinery will be the first of its kind on the continent, producing cobalt sulphate — a key ingredient in lithium-ion batteries. Currently, no other cobalt sulphate refinery exists in North America, leaving manufacturers dependent on foreign suppliers.
Electra expects the Temiskaming Shores operation to produce nearly 6,500 tonnes of cobalt annually. The facility will also create new jobs in the region and position the Northern Ontario community as a strategic hub in Canada’s emerging EV economy.
“We are grateful to the Government of Ontario for its commitment to building a made-in-Ontario critical minerals supply chain,” said Trent Mell, CEO of Electra. “This support from Invest Ontario is a key endorsement of the strategic importance of our refinery, not just for the province, but for Canada and North America as a whole. Together, we are reducing reliance on offshore supply, enabling a cleaner energy future, and strengthening Ontario’s position as a hub for battery materials innovation.”
Backed by Strategy and Investment
The announcement aligns with Ontario’s Critical Minerals Strategy, which aims to leverage the province’s mineral wealth by increasing domestic processing and building a complete supply chain for clean technologies. In recent months, the government has unveiled a $500 million Critical Minerals Processing Fund to accelerate projects that will expand Ontario’s refining capacity.
The initiative also underscores the province’s broader ambition to attract EV battery and automotive manufacturing investment, supported by Ontario’s skilled workforce, diversified supply chain, and stable business environment.
“Building manufacturing capabilities for domestically sourced resources secures supply chains and strengthens the province at a critical time of economic uncertainty,” said George Pirie, Minister of Northern Economic Development and Growth. “A prosperous North is integral for a prosperous Ontario, and this new facility brings good jobs and opportunities that underscore the economic potential of investing in Northern Ontario.”
Industry Confidence
Invest Ontario, the province’s investment attraction agency, is playing a central role in facilitating projects like Electra’s refinery. Its leadership emphasized the broader implications of the project for Ontario’s clean tech future.
“Critical minerals are key to securing Ontario’s leadership in clean energy technologies, and advancing their development and processing is a priority for us,” said Khawar Nasim, CEO of Invest Ontario. “Once operational, Electra’s refinery will mark a significant step towards the province’s goal of building a complete, made-in-Ontario critical mineral supply chain.”
Ontario’s Unique Position
Ontario is among the most mineral-rich jurisdictions in the world, with deposits of nickel, lithium, platinum, cobalt and other key resources. Government officials argue that processing these resources domestically instead of exporting raw materials will capture greater economic value and help future-proof the province’s industrial base.
With a growing EV assembly footprint, a strong automotive supply base, and now a developing critical minerals network, Ontario is positioning itself as an attractive destination for global investment in the EV sector.
The agreement with Electra remains subject to final terms, but officials say the deal represents a milestone in building Canada’s clean energy economy and safeguarding high-value jobs for future generations.
