08:26 AM EDT, 03/19/2026 (MT Newswires) -- Electra Battery Materials Corporation ( ELBM ) , a North American critical minerals refining company, was edging lower and near 52 week lows in US premarket trade Thursday as it provided a construction progress update for its cobalt sulfate refinery project in Ontario.

In a statement, it said the project "continues to advance beyond detailed engineering, with procurement and installation activities progressing in line with the company's previously announced construction plan and budget."

ELBM added the refinery is expected to become North America's only battery-grade cobalt sulfate production facility, with mechanical completion targeted for the second quarter of 2027 and commissioning activities beginning in advance of that milestone.

"Steady progress continues at the North American refinery project site," said Paolo Toscano, Vice President, Projects and Engineering. "With early works now largely complete, including key infrastructure installations and engineering milestones, the project is well positioned to transition into its next phase of construction."

Shares in ELBM were down. They were down 6.7% in Canada and 6.4% in the U.S. yesterday.