American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Wyloo to Build Canada’s First Battery Materials Processing Facility in Sudbury

by admin June 5, 2024
June 5, 2024
Wyloo to Build Canada’s First Battery Materials Processing Facility in Sudbury

Privately owned critical materials company Wyloo announced on May 29 that it has secured a parcel of land in Sudbury, Ontario, to construct Canada’s first downstream battery materials processing facility.

The project is geared at bridging a gap in the conversion of raw materials to battery-grade chemicals for Canada’s electric vehicle (EV) supply chain, while also reducing the country’s reliance on imports.

Construction is anticipated to align with the development of Wyloo’s Eagle’s Nest mine in Northern Ontario’s Ring of Fire region, with mine construction expected to commence in 2027 and the facility to follow thereafter.

Wyloo’s facility will process nickel sourced primarily from Eagle’s Nest. It will also process third-party nickel-bearing feed and recycled battery materials, aiming to meet half of the nickel demand generated by Canada’s burgeoning EV industry.

Wyloo CEO Kristan Straub emphasized the strategic importance of this facility in a company press release.

“The urgency to bolster North America’s capacity for processing metals — particularly nickel — has never been more apparent. Our Sudbury facility will provide a critical link in the supply chain, producing low-carbon nickel sulphate and nickel-dominant precursor cathode active material (pCAM), essential components for EV batteries,” he said.

Canada building EV supply chain momentum

Wyloo’s announcement marks another development in Canada’s growing EV supply chain momentum.

In April, Honda Motor (NYSE:HMC) announced a C$15 billion investment to establish an EV value chain in Ontario.

The company wants to construct an innovative and environmentally responsible EV plant and standalone EV battery plant that will feature a cathode active material and pCAM processing plant.

The project is expected to commence production in 2028, with an annual capacity of 240,000 vehicles. The accompanying EV battery plant will have a production capacity of 36 gigawatt hours per year.

Honda’s investment aligns with Canada’s strategy to become a global leader in EV production. According to Wyloo’s Straub, the nation’s government has committed over C$40 billion to develop a complete EV supply chain, emphasizing local production and reducing reliance on foreign imports.

In addition to its Canadian venture, Wyloo is advancing plans for an integrated battery materials facility in Kwinana, Western Australia. This project, which was announced in April 2023 and is a partnership with IGO (ASX:IGO,OTC Pink:IPDGF), aims to integrate a downstream nickel refinery with a plant producing high-value pCAM.

According to the companies, the Kwinana facility will capitalize on Western Australia’s substantial nickel reserves and existing lithium hydroxide production infrastructure.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
UAE the Top Destination for Smuggled African Gold Worth Billions, Study Says
next post
Siren Awarded High-Grade Lyell Tenement for a Further 5 Years

Related Posts

USD/CAD forecast: BoC, Fed and the carry trade...

January 26, 2025

Workday stock price: could WDAY hit $300 after...

November 24, 2024

Here’s why the Russell 2000 (IWM) ETF slumped...

December 19, 2024

Planet Fitness stock forecast: is PLNT a buy...

February 23, 2025

Altech Batteries LtdEntitlement Offer and Share Placement

August 7, 2024

USD/TRY forecast: ING experts see Turkish lira falling...

January 13, 2025

Kerry Stevenson: Ready to Invest After Cashing Out...

July 24, 2024

QQQ ETF stock forecast as Nasdaq 100 index...

March 9, 2025

Tesla’s Share of US EV Market Dips Below...

July 16, 2024

USD/INR forms a small double-top: Is the rupee...

January 31, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,199)
    • Investing (2,531)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved