Electra Battery Materials provides corporate update, including departure of CFO

Electra Battery Materials Corporation has provided an update on its Battery Materials Park project along with leadership changes, including the departure of Chief Financial Officer Ryan Snyder. Mr. Snyder – says a press release – has accepted a new opportunity with a senior precious metals producer and will be leaving Electra at the end of April.

Mr. Trent Mell, Chief Executive Officer, said: “We are fortunate to have had someone of Ryan’s calibre at Electra over the past several years, as we were building our business. As we approach commercial production from Phase 1 of our Battery Materials Park, I am truly disappointed to see him leave but I fully respect his decision to pursue a new challenge with a global miner. On behalf of the Board and the senior leadership team, I thank Ryan for his immeasurable contributions to Electra and wish him well in his next endeavour.

Ryan Snyder, outgoing Chief Financial Officer, said: “I have thoroughly enjoyed my time at Electra and I wish the team well as they work to complete the cobalt refinery and advance our battery recycling plans. Electra has a strong business plan and will become a key player in the electric vehicle value chain in North America. I look forward to following the Company’s progress and will remain a long-term shareholder.

Electra has commitments in place for 52% of the US$67 million capital budget, inclusive of amounts spent to date. The Company expects to approach a 70% commitment level within the next month, with the overall project currently on budget.

Construction activity at its Refinery continues on schedule. COVID-19 restrictions in certain parts of the world as well as recent global geopolitical events are putting pressure on supply chains and development projects. Electra is closely monitoring and managing these risks with its equipment and services suppliers and thus far the project remains on schedule for commencement of commissioning late this year.

A contract for an overland piping package to access raw water was recently awarded to Pedersen Construction based on a competitive bid process. The 2.8-kilometer buried pipeline will feed water to the refinery from an existing pumphouse located at Lake Temiskaming. The pipeline will be installed over the coming months.Battery Recycling. Thanks for staying up to date with Batteries News.


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