#US military announces $20M US grant to build #Cobalt refinery in #Ontario

Posted on August 20, 2024 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

https://nanthavictor.com/2023/04/10/canada-and-mexico-are-written-into-us-inflation-reduction-act-and-chip-act-will-this-boost-the-north-american-integration/

The U.S. military has made its largest move so far in a novel national-security effort to fund mining initiatives in Canada.

The Pentagon on Tuesday announced a $20 million US grant to create a cobalt refinery in northern Ontario’s Temiskaming Shores. The money will go to the Toronto-based Electra Battery Materials Corporation; the government of Canada is adding $3.6 million US ($4.9 million Cdn) of its own to the project.

This is the third and, by far largest, in a series of Washington’s grants to Canadian projects as part of an initiative announced when U.S. President Joe Biden visited Ottawa in 2022.