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Westwin Elements is the first major nickel refinery in the US. As the first American nickel refinery, they entered into two mutual seven-year offtake agreements worth over $1.4 billion. This was with global metals trading company Traxys, Westwin announced in a July 23 release. “Partnering with Traxys sends a clear signal that Westwin is here to lead,” a Westwin spokesperson told Fastmarkets.
“This long-term agreement secures our feedstock supply. It locks in committed buyers for the majority of our products over the next seven years,” they continued. “It validates our commercial model and marks a decisive step toward building a domestic supply chain for America. Traxys’ vote of confidence shows that industry leaders see Westwin as a lasting force in critical minerals.”
Along with Westwin’s previous binding offtake agreement with Golden Age on June 16, the Oklahoma-based company has sold 80% of its projected commercial product. These agreements total approximately $1.7 billion in committed revenue. The refinery is located in Lawton, Oklahoma, southwest of Oklahoma City.
Westwin said the commitment builds on the momentum of its Phase 1 production ramp-up. This phase targets 18,000 tonnes per year of high-purity nickel. As the first American nickel refinery, this commitment is integral to their strategic goals.
The company’s spokesperson said Phase 1 will be completed by 2028. After completion, Phase 2 will add another 16,000 tpy by 2030. Depending on market demand, Westwin plans to expand to 68,000 tpy in the next decade.
The first sales & purchase agreement (SPA) with Traxys is valued at $1.4 billion, depending on market pricing. It covers 10,000 tpy of Westwin’s high-purity Class 1 nickel briquette.
The second SPA provides for the purchase of up to 17,000 tpy of contained nickel in the form of mixed hydroxide precipitate (MHP). Westwin’s spokesperson said the amount satisfies 100% of the initial commercial feedstock requirements.
Traxys agreed “to use best efforts” to arrange a $35 million credit facility, a type of pre-approved loan, to support construction of Westwin’s commercial production facility. The company said this is subject to further due diligence at the first American nickel refinery.
Westwin’s agreement with Golden Age secured the sale of approximately $350 million for nickel powder and briquette.
“This is more than a transaction — it’s a vote of confidence in Westwin and in American-made critical minerals,” KaLeigh Long, Westwin’s chief executive officer and founder, said in the release.
“This agreement reflects Traxys’ deep conviction in both our near-term execution and long-term growth. It positions Westwin as a cornerstone of the US critical minerals strategy,” Long concluded.
Nickel is a designated critical mineral under the US Department of Energy and the Department of Interior.
The US Geological Survey (USGS), under the Interior Department, said nickel is used in the production of stainless steel, superalloys, and rechargeable batteries. Westwin’s spokesperson said nickel is required for jet engines, batteries, precision alloys, and next-generation weapons platforms.
The US currently relies on imports for nickel supply, with approximately 45% of nickel imports coming from Canada. Norway, Brazil, and Australia are also major suppliers.
“To be America’s first major nickel refinery means more than just being first. It means stepping into a national security gap that should have been closed decades ago,” Westwin’s spokesperson said of their significance as the first American nickel refinery.
“The US has never had domestic nickel refining capacity at scale. This has left us almost entirely dependent on foreign nations for a material essential to defense systems, advanced manufacturing, and energy technologies. That’s not just a supply chain issue; it’s a strategic vulnerability,” they continued.
“Westwin’s refinery represents a turning point. We’re securing the upstream of our industrial base, creating American jobs, and reducing exposure to geopolitical risk. This is about restoring American independence in critical minerals and doing it responsibly,” the spokesperson concluded.
The company said there is growing demand for US-based critical mineral refining
Westwin is “actively working” to finalize the capital stack needed for its initial commercial facility. This includes finalizing its Series B capital raise, with commitments from accredited investors underway. Institutional partners are actively engaged in due diligence, the spokesperson said.
“We expect to complete our bankable feasibility study within the coming weeks. We are confident it will validate our business case. This study will also provide strong momentum toward executing our Phase 1 project on time and within budget,” they said.
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