Last year’s deal with the South Korean battery-making giant has been “extended and expanded” from 7,000 tonnes of battery-grade cobalt over three years to 19,000 over five years beginning in 2025. Financial terms weren’t disclosed. (The Logic)

Talking point: The move suggests Electra is becoming a key part of LG’s battery factory plan in Ontario, especially as other North American cobalt producers may not be able to provide reliable supply as they struggle to get running. Electra has had success recycling nickel and cobalt in Ontario, and has been raising funding after warning in May that it would conduct a strategic business review amid cost overruns at its cobalt refinery. As prices for commodities like cobalt have fallen, companies and even whole countries are locking in deals for battery metals. Tesla executives said in an earnings call last week that the company is “taking advantage to extend some of those fixed-price contracts through the end of the decade” amid price reductions of lithium, nickel, cobalt and graphite.