Electra names new CFO

Toronto-based Electra Battery Materials Corp. has named Marty Rendall as its new chief financial officer (CFO) upon the retirement of David Allen, effective Jan. 1, 2025.

Electra says Allen played a key role in securing a $20 million award from the U.S. Department of Defense that was announced in August and laid the foundation for the resumption of construction at the company’s flagship cobalt sulfate refinery in Ontario. Allen will work alongside Rendall during a transition period to ensure a smooth process.

“I am honored to join Electra at such a pivotal moment, as the company executes on its vision to address the geopolitical imperative of building resilient critical minerals supply chains outside of China,” Rendall says. “With construction well advanced, Electra is well-positioned to achieve cash flow by 2026, a testament to the strength and commitment of the team. I look forward to applying my experience in leading high-performance teams through construction, commissioning and into operation to contribute to Electra’s continued success.”

Electra says Rendall is a seasoned financial executive with experience in the mining industry, spanning exploration, development and operational stages across the Americas. Over his 17-year tenure as CFO at Victoria Gold, Electra says he played a pivotal role in transforming the organization form a small, early-stage exploration company into a leading Canadian gold producer with an enterprise value exceeding $1 billion Canadian ($693.4 million U.S.) at its peak.

Additionally, Electra says Rendall was “instrumental” in advancing Victoria’s flagship Eagle Gold Mine, from exploration through permitting, development, construction and into operations. Under his leadership, milestones included more than $1 billion Canadian in financings and executing two acquisitions of publicly listed companies.  His accomplishments earned him the Viola MacMillan Award from PDAC, which is given to an individual or company for demonstrating strong leadership in management and finance in exploration and development of mineral resources.

Rendall holds a chartered financial analyst designation, and Electra says he brings a proven track record in strategic planning, financial reporting, fundraising and team development. His expertise includes leading diverse functions such as treasury, tax, IT, mergers and acquisitions (M&A), human resources and corporate governance.

Electra is building a cobalt sulfate refinery in Ontario with a long-term goal of recycling battery materials and producing battery-grade nickel for the North American and global electric vehicle (EV) market in a phased manner.

“It has been a privilege to serve as Electra’s CFO during this exciting period,” Allen says. “I am proud of what we have accomplished as a team, and I have full confidence in the company’s future with Marty’s contributions.”

Electra CEO Trent Mell says, “On behalf of the board of directors, I would like to thank David for his dedication and contributions to the company. His efforts have put Electra on a stronger footing and this well-timed transition to an experienced builder will serve our stakeholders well.”