Input Stories

The first solar-powered cobalt processing facility in the U.S. just got one big step closer to becoming reality (RawMaterials.net). 
 
What’s going on: U.S. electric vehicle battery materials processor EVelution Energy announced Monday that it has received a letter of interest from the Export-Import Bank of the United States for a loan of up to $200 million “to support the construction and operation of its planned cobalt processing plant in Yuma, Arizona.” 

•  There are currently no commercial-scale cobalt refineries in the U.S.
• EVelution Energy expects the plant “to be fully operational in 2027.” 

Why it’s important: Cobalt, a critical mineral, is among the “electric 18” materials essential to ensuring American energy dominance. It’s a key component of the lithium-ion batteries in smart phones and EVs and a required input for aircraft gas turbine engines.  

• “The plant will produce cobalt sulfate and cobalt metal from cobalt hydroxide and other intermediates and is anticipated to supply between 20% and 40% of the projected cobalt demand in the United States.”
• Last year, China produced 78% of the world’s refined cobalt. 

Our view: “It’s vital to U.S. energy security and reliability that we develop domestic supply chains for critical minerals, and this news from EVelution Energy is a significant and positive move in that direction,” said NAM Vice President of Domestic Policy Chris Phalen.

• “Improving America’s broken permitting system is a key way that the NAM will work to support strong critical minerals supply chains in 2025 with a new administration and Congress.”