Westwin Elements Paves the Way for America's First Nickel Refinery with Term Sheet for Nickel Feedstock Supply with Major Trading Firm
FOR IMMEDIATE RELEASE
May 08, 2024
Media Contact: Aundie Boeckman
VP of Communications Aundie@WestwinElements.com
Oklahoma City - Westwin Elements (Westwin), the trailblazing force behind America's first major nickel refinery, is pleased to announce the execution of a non-binding term sheet (NBTS) with a major trading mining and metals firm for the supply of IRA-compliant and FEOC free nickel intermediates products to feed Westwin's refinery in Oklahoma.
The NBTS establishes principles on volume, pricing, and delivery terms, laying a robust foundation for the future negotiation of a long-term binding conditional sale and purchase agreement (CSPA). This anticipated agreement, slated for completion ahead of Westwin's Bankable Feasibility Study targeted for Q4 2024, is projected to cover up to 50% of Westwin's total feedstock needs for the initial five years of operation.
KaLeigh Long, Founder and CEO of Westwin Elements, expressed enthusiasm about the collaboration, stating, "This NBTS marks a significant milestone in our journey towards establishing America's first major nickel refinery. With the support of this major trading firm, we are poised to revolutionize the domestic nickel industry, ensuring a stable supply of IRA-compliant and FEOC free nickel products."
In addition to outlining core supply terms, the NBTS outlines potential avenues for collaboration, including the provision of inbound logistic services, the sale of Westwin's finished products, and participation in equity raising initiatives. These synergistic efforts underscore the commitment of both parties to foster mutual growth and innovation within the sector.
"We look forward to working closely with all our partners and stakeholders to realize our vision of America's first major nickel refinery," added Ricardo Morales, Chief Commercial Officer of Westwin Elements. "Together, we will drive sustainable development of the midstream part of the value chain, re-positioning the United States at the forefront of global innovation."
As Westwin Elements advances towards the realization of its ambitious goals, the company remains steadfast in its dedication to excellence, sustainability, and pioneering leadership within the nickel refining landscape.
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