10/15/2026
Global cobalt demand grew 13% in 2025, according to Benchmark Mineral Intelligence, reflecting its expanding use across battery, industrial and military applications.
Batteries remain the main driver of growth, with demand for cobalt metal also increasing in defense and aerospace.
Electra’s Ontario refinery is designed to produce battery-grade cobalt sulfate, adding North American refining capacity to serve this growing market.
Source: Benchmark Mineral Intelligence, May 2026.