DoD Grants $20 million to Canadian Cobalt Processor

Posted 8/19/24

The Department of Defense announced Monday a $20 million award via the Defense Production Act Investments (DPAI) office to Electra Battery Materials Corporation, a Canadian mining firm attempting to recommission an idled plant to process cobalt sulfate imported from the Democratic Republic of Congo.

The award utilizes funds from the Ukraine Supplemental Appropriations Act of 2022 and supports the 2024 National Defense Industrial Strategy goal of expanding domestic production of critical minerals.

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September, 2024 Export Practitioner

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