It has reportedly signed a Memorandum of Understanding with the Government of Canada to help fund the project.
Plans are to start construction in 2023 and begin operations at the end of 2025. Umicore says that it wants to reach an annual production capacity capable of powering approximately one million EVs by 2030.
“Canada and the Ontario province have all it takes for Umicore to establish a full-fledged, sustainable supply chain for battery materials, all the way from the mine right to the end-market of electric vehicles,” said Mathias Miedreich, CEO of Umicore. “The facility will help Canada and Umicore in their shared objective of achieving a carbon-neutral battery supply chain.”
Umicore already runs a cathode precursor and cobalt refining plant in Kokkola, Finland, and a battery materials plant in Nysa, Poland.
