Westwater Resources Announces EXIM Approval of $25 Million Loan to Advance the Kellyton Graphite Plant

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Postmedia has not reviewed the content. by Business Wire Westwater Resources Announces EXIM Approval of $25 Million Loan to Advance the Kellyton Graphite PlantAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.EXIM’s financing of Westwater’s Alabama Graphite Project represents a significant milestone for the most advanced American battery-grade natural graphite processing plantTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountGREENWOOD VILLAGE, Colo. — Westwater Resources, Inc. (NYSE American: WWR), an energy technology and battery-grade natural graphite company (“Westwater” or the “Company”), today announced that the Export-Import Bank of the United States (“EXIM”) has approved a $25 million direct loan to support continued development of the Company’s Kellyton Graphite Plant in central Alabama.The financing was approved under EXIM’s Make More in America Initiative (“MMIA”), which supports export-oriented domestic manufacturing projects that strengthen critical U.S. supply chains. J.P. Morgan’s Securitized Products Group served as the Arranger and Structuring Agent in connection with the transaction.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe $25 million loan will provide non-dilutive capital to advance construction, equipment installation, commissioning and operational readiness activities at the Kellyton Graphite Plant. The financing is expected to support Westwater’s objective of commencing commercial production in 2027.“This non-dilutive financing represents a significant milestone for Westwater and an important federal commitment to building a secure domestic supply chain for battery-grade natural graphite,” said Terence Cryan, Executive Chairman of Westwater Resources. “Kellyton is the most advanced American battery-grade natural graphite processing project, enjoying a 3-5 year first mover advantage over potential North American competitors. EXIM’s support strengthens our path toward commercial production in 2027 and recognizes the strategic importance of establishing this critical manufacturing capability here at home.”Public-Private Financing Supports a Critical American Supply ChainThe United States currently relies on foreign sources for its supply of natural graphite, a critical mineral used in lithium-ion battery anodes and a range of energy storage, defense, aerospace and advanced technology applications. Once operational, Kellyton is expected to produce coated spherical purified graphite (“CSPG”), a form of natural graphite used primarily as active anode material in lithium-ion batteries.Phase I of the Kellyton Graphite Plant is designed to produce approximately 12,500 metric tons of CSPG annually. The plant is strategically located in Alabama near a growing concentration of battery and automotive manufacturing operations across the southeastern United States.The Kellyton Graphite Plant is the downstream advanced processing component of Westwater’s vertically integrated, mine-to-market strategy. The Company is also advancing the Coosa Graphite Deposit, located approximately 30 miles from Kellyton, as a potential long-term domestic source of natural graphite flake concentrate for the plant. Westwater holds mineral rights across approximately 41,965 acres at Coosa, which the Company believes is the largest and most advanced natural flake graphite deposit in the contiguous United States.“EXIM’s approval is a strong validation of Kellyton’s strategic and economic importance,” said Steve Cates, Senior Vice President and Chief Financial Officer of Westwater Resources. “This $25 million commitment provides an important source of non-dilutive capital as we work to complete the plant.”Phase I of the Kellyton Graphite Plant is expected to create approximately 100 permanent jobs in rural Central Alabama and contribute to the continued growth of Alabama’s advanced manufacturing economy.“Under President Trump’s leadership, America is leading the way in critical minerals development and rare earths processing,” said EXIM Chairman John Jovanovic. “Critical mineral security is national security. These deals are a large part of EXIM’s strategy to fortify our supply chains, restore crucial industries that support well-paying American jobs, and safeguard everyday Americans from supply shocks.”The EXIM loan remains subject to the execution of definitive loan documentation and the satisfaction of customary closing conditions.About the Make More in America InitiativeEXIM’s Make More in America Initiative makes EXIM’s existing medium- and long-term loans, loan guarantees and insurance products available to export-oriented domestic manufacturing projects. The initiative is intended to strengthen American manufacturing, support U.S. jobs and enhance the resiliency and security of critical domestic supply chains.About Westwater Resources, Inc.Westwater Resources, Inc. (NYSE American: WWR) is a critical minerals and energy technology company advancing a vertically integrated, mine-to-market platform for battery-grade natural graphite in the United States. The Company’s platform is anchored by the Coosa Graphite Deposit in Alabama, the largest natural flake graphite deposit in the contiguous United States, and the Kellyton Graphite Plant, a processing facility designed to produce coated spherical purified graphite (CSPG), a key material used in lithium-ion battery anodes. For more information, visit WestwaterResources.com.Cautionary Statement Regarding Forward-Looking StatementsThis news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words and phrases such as advance,” “significant milestone,” “most advanced,” “continued development,” “strengthen,” “expected to support,” “objective,” “important,” first mover advantage,” “potential,” “strategic importance,” “expected to produce,” “strategically located,” “believes,” “largest,” “strong validation,” “important source,” “expected to create,” “continued growth,” “execution,” “satisfaction,” and other similar words. Forward-looking statements include, among other things, statements concerning: operational developments including the construction of the Kellyton Graphite Plant, the Coosa Graphite Deposit, and the costs, schedules, production and economic projections associated with both of them, and strategic priorities including progress on financing for the Kellyton Graphite Plant. The Company cautions that there are factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized. Those uncertainties and other factors are discussed in Westwater’s Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent securities filings, and they could cause actual results to differ materially from management expectations.View source version on businesswire.com: Westwater Resources, Inc. This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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