Electra Discusses Partnership Opportunities at Indonesia’s Critical Minerals Summit

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TORONTO, Aug. 30, 2024 (GLOBE NEWSWIRE) — Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra“or”Company”) is excited to announce its participation in the first critical minerals conference in Indonesia, Fastmarket’s International Critical Minerals and Metals Summit: Indonesia. The summit will bring together industry leaders, policy makers, and stakeholders to discuss Indonesia’s role in the global energy transition. Electra’s participation will underscore the opportunity to develop a sustainable nickel and cobalt supply chain for the North American battery materials sector.

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Electra’s CEO, Trent Mell, will sit on a panel titled “Examining Indonesia’s Role in Creating an IRA-Compliant Supply Chain.” The talk will explore Indonesia’s growing role as a major source of nickel and cobalt and how to build an EV supply chain that meets the requirements of the US Inflation Reduction Act. As the electric vehicle market share continues to grow, Indonesia’s strategic importance in the global supply chain will grow significantly.

Electra’s involvement in this conference is timely, following the recent announcement of a $20M US Department of Defense grant (August 19, 2024) aimed at improving domestic cobalt refining capabilities. This grant marks an important milestone in Electra’s broader strategy to improve the resilience of the North American battery minerals supply chain and diversify away from heavy reliance on Chinese processors.

“We are honored to be invited to share our vision at this inaugural event,” said Mell. “Indonesia will play an important role in the future of battery production, and we welcome discussions on how the region can enter new markets to support the development of a supply chain suitable for IRA. As we look to the future, developing the supply chain of battery materials in North America by increasing processing capacity for nickel and cobalt not only fosters new global partnerships, but also ensures that our approach to sourcing and production is aligned with environmental stewardship and long-term sustainability goals.

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Electra’s near-term priorities are recommissioning and expanding Ontario’s cobalt refinery, while its long-term vision includes expanding its efforts to include additional critical mineral refining processes. Additional phases to build the North American supply chain could provide a closed loop for recycled battery materials, a second cobalt sulfate facility in Bécancour, Quebec, and a strategically located North American nickel sulfate refinery to supply battery-grade nickel to North America and global electricity. vehicle battery market.

About Electra Battery Materials

Electra is a processor of low-carbon, ethically sourced battery materials. Currently focused on developing its only cobalt sulfate refinery in North America, Electra is implementing a phased strategy to onshore the electric vehicle supply chain and provide a North American solution for the refining of EV battery materials. In addition to building the only cobalt sulfate refinery in North America, the strategy includes integrating black bulk recycling, potential cobalt sulfate processing in Bécancour, Quebec, and exploring the potential for nickel sulfate production in North America. For more information, visit www.ElectraBMC.com.

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Ignition
Heather Smiles
Vice President, Investor Relations & Corporate Development
Electra Battery Materials
info@ElectraBMC.com
1.416.900.3891

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