Electra’s Role in Strengthening the North American Cobalt Supply Chain
Understanding the global cobalt supply chain starts with acknowledging two key dynamics: the concentration of cobalt mining in the Democratic Republic of Congo (DRC) and China's dominance in refining. At Electra, we are directly addressing the latter by establishing North America’s only cobalt sulfate refinery—offering a much-needed alternative to China-centric supply chains. Our commercial partners share the same goal: creating solutions for a more resilient and diversified future.
Diversifying supply of critical materials is a global priority. Nearly 80% of the world’s cobalt is currently mined in the DRC, and while recycling may be a key contributor to supporting future demand, additional primary sources will be essential to building a reliable and resilient supply chain.
Electra’s Iron Creek Cobalt-Copper Project is one of the only primary cobalt deposits in the United States. Located in Idaho’s historic and geologically rich Cobalt Belt, the project spans 3,300 hectares and benefits from previous underground development and direct road access. Iron Creek is part of a broader mineralized system identified by the U.S. Geological Survey as containing the country’s largest primary cobalt resources.
Iron Creek aligns with national efforts to secure a reliable domestic supply of battery materials. Electra’s ongoing work at the site supports future reductions in import reliance and advances the development of a resilient North American battery supply chain.
Strong Supply Agreements and Ample Refinery Capacity
We’ve secured cobalt supply agreements with two major producers—Glencore and Eurasian Resources Group (ERG). Together, their output far exceeds the capacity of our 6,500-tonne-per-annum refinery. In 2024 alone, Glencore produced 35.1 kt of cobalt from its African operations, while ERG delivered 19.2 kt. Importantly, both companies are actively pursuing non-Chinese downstream options, aligning with our broader vision.
Flexible Sales Strategy Amidst Tariff Risks
From a sales perspective, Electra’s cobalt is not bound to U.S. markets, which provides flexibility in the event of changing tariffs. Our offtake partner LGES could ship our production to Japan while their PCAM (precursor cathode active material) facilities in North America are under construction. That said, the U.S. continues to rely entirely on cobalt sulfate imports—making Electra’s production vital for any strategy aimed at reducing dependency on China.
Staying Ahead of Supply Chain Risks
Like any critical commodity—whether it's oil, gas, or minerals—cobalt comes with inherent supply chain risks. Our team continuously monitors the global market to uncover opportunities to lower costs, improve margins, and minimize risk exposure.
Our mission remains clear: to build a secure, reliable, and scalable North American cobalt supply chain. We are proud to position Electra as a strategic alternative in a market long dominated by international players. The future of energy independence begins with a strong foundation—and we’re building it now.