The Elements of Innovation Discovered
The Elements of Innovation Discovered
Metal Tech News - November 20, 2024
Miners working underground at Electra Battery Materials Iron Creek cobalt-copper project in Idaho.
Electra's cobalt refinery and battery materials recycling plant in Ontario.
With a federal 10-year exploration permit in its pocket, Electra Battery Materials Corp. has the flexibility and time to thoroughly evaluate its Idaho Cobalt Belt properties, which host some of the only potential primary sources of cobalt outside the Democratic Republic of Congo.
So far, Electra has outlined 4.5 million metric tons of indicated resource averaging 0.19% (18.4 million pounds) cobalt and 0.73% (71.5 million lb) copper; plus 1.2 million metric tons of inferred resource averaging 0.08% (2.1 million lb) cobalt and 1.34% (36.5 million lb) copper at Iron Creek project about 135 miles northeast of Boise, Idaho.
Both of the metals found at Iron Creek are essential to the energy transition and have proven to be an effective catalyst for transforming atmospheric CO2 into useful ethanol.
On Nov. 19, Electra announced that the U.S. Forestry Service has approved a permit that will allow it to expand upon this rich source of cobalt and copper by exploring in and around its Iron Creek project at the eastern end of the Idaho Cobalt Belt.
"Securing this 10-year exploration permit is an important milestone for copper and cobalt mining in the U.S. and supports America's commitment to strengthening domestic critical mineral production," said Electra Battery Materials CEO Trent Mell. "This permit provides us the necessary regulatory certainty and flexibility to advance exploration at 91 designated drilling sites, and positions Electra as a potential key contributor to North America's evolving battery supply chain."
Electra's 28.2-square-mile land package in Idaho covers hosts seven mineralized occurrences exposed on surface or encountered in drilling.
Iron Creek and Ruby are the two most important targets identified so far, and it is expected that much of the drilling covered by the newly approved exploration permits will focus on extending these deposits both laterally and vertically.
While exploration crews look to add to the millions of pounds of cobalt and copper in Idaho, Electra remains focused on completing the construction of its battery materials refining and recycling plant in Ontario, Canada.
Electra's cobalt refinery and battery materials recycling plant in Ontario.
Once fully operational, this U.S. Department of Defense-backed facility is expected to produce around 6,500 metric tons of cobalt sulfate – enough for the batteries in approximately 1 million sedan-sized electric vehicles – per year.
"Our primary near-term focus is completing construction of North America's first battery-grade cobalt refinery, but we see substantial potential in the Idaho Cobalt Belt and are eager to resume drilling and field exploration as conditions and strategy dictate," said Mell.
Given President-elect Donald Trump's support for securing domestic critical minerals during his first term in office, Electra hopes that a second term will dictate it to fully exercise its recently approved permits to explore for more cobalt and copper in Idaho.
With more than 16 years of covering mining, Shane is renowned for his insights and and in-depth analysis of mining, mineral exploration and technology metals.
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