Electra Battery Materials Corporation (TSX-V:ELBM, OTCQX:ELBMF) revealed that it has received its Industrial Sewage Works permit and has filed its final closure plan for its refinery expansion project.
The Toronto-based company said completing the regulatory milestones linked to the restart of the company's hydrometallurgical facility were “important” in the execution of Electra's strategic business plan, which includes the integration of the refinery into a larger battery materials park on company land in Ontario, Canada.
"Achieving these important regulatory milestones is a critical step as we bring North America's only cobalt sulfate refinery online this year," Electra Battery CEO Trent Mell said in a statement. "Throughout the permitting process, we have consulted and worked closely with our stakeholders including indigenous communities, neighbours, and local governments.”
READ: Electra signs battery recycling and cobalt supply agreement with Japan’s Marubeni
The company highlighted the following steps:
- Industrial Sewage Works Environmental Compliance Approval was issued by the Ontario Ministry of the Environment, Conservation and Parks;
- The company was invited to file its Final Closure Plan for the refinery, which was formally submitted on January 19, 2022. This is subject to a 45-day review period by the Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry;
- Electra will amend its existing permit to draw water to ensure the alignment of volumes across all operating permits.
Electra explained that its closure plan would outline how the affected land will be rehabilitated and the costs associated with it. As part of the formal filing process, financial assurance covering the total estimated costs of all future closure activities has been posted with the ministry, said the company. Electra said it doesn’t anticipate any substantive issues will be raised during the 45-day review period.
Meanwhile, getting the Industrial Sewage Works Environmental Compliance Approval (ECA) is a "major achievement," said Electra. It governs how process water and tailings will be managed to ensure the environment is protected. Over the coming days, Electra will be filing an amendment to its current permit to draw water. The amendment will align the volumes in the water permit to those included in the final approved Industrial Sewage Works ECA, noted the firm.
Electra said its cobalt sulfate refinery is on track to kickoff commissioning this year. It constitutes the first phase in Electra's four-phase Battery Materials Park strategy. In the coming years, Electra plans to build processing capacity for the recycling of primary and secondary battery scrap materials.
Electra is building North America's only fully integrated environmentally sustainable battery materials park. The Electra Battery Materials Park will host cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility, and battery precursor materials production, which will serve both North American and global customers.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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