Electra signs benefits agreement with MÃ©tis Nation ofÂ Ontario
“It demonstrates our commitment to operations that are environmentally, culturally and socially responsible, and also reflects our commitment to working with Indigenous communities in respectful and mutually beneficial ways.”
“We welcome the signing of the benefits agreement and Electra’s commitment to support economic, cultural, and educational activities in the region,” added Lorette McKnight, president of the MNO Temiskaming Métis Council.
“The construction of a battery materials plant in Ontario on the James Bay and Abitibi/Temiscamingue Métis traditional territories represents an exciting development that will create many opportunities while also supporting environmental sustainability through reducing carbon emissions as a result of the adoption of electric vehicles.”
In connection with the benefits agreement, Electra has agreed to issue 20,000 common shares of the company to the MNO as a means of providing a measure of economic participation in the success of Electra’s low-carbon battery materials visions.
Electra is currently commissioning a battery materials refinery in Temiskaming Shores, Ontario, with a plant capacity of 5,100 tonnes of cobalt in sulphate. The only one of its kind in North America, the cobalt refinery represents part of the company’s multipronged strategy focused on onshoring the electric vehicle supply chain.
In concert with its effort to commission the refinery, Electra intends to launch a battery materials recycling demonstration plant this fall.
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