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Westwater Resources, Inc. (WWR) is a diversified energy materials development company with a focus on exploring and developing a range of critical materials including lithium, graphite, uranium, and vanadium. The company’s primary project, the Coosa Graphite Project, spans approximately 41,965 acres in east-central Alabama, dedicated to the mining and production of high-purity natural graphite key for battery applications.
Westwater Resources also manages significant lithium projects such as the Columbus Basin Project covering around 14,200 acres in western Nevada and the Sal Rica Project covering approximately 13,260 acres in northwestern Utah. Apart from these, the company holds interests in various uranium projects, including extensive properties in New Mexico and Texas.
The company initially started as Uranium Resources, Inc., focusing primarily on uranium exploration and development. In August 2017, it rebranded to Westwater Resources, Inc. to better reflect its expanded scope into other energy materials.
Based in Centennial, Colorado, Westwater Resources is poised at the forefront of the evolving energy materials sector, especially with the growing demand for battery-grade materials driven by the electric vehicle and renewable energy markets. The company is committed to advancing its projects responsibly, ensuring sustainability and environmental stewardship in its operations.
Recent achievements include substantial progress in the Coosa Graphite Project, advancements in lithium extraction technologies, and strategic partnerships aimed at enhancing resource development and market reach. The company continues to explore new opportunities and remains focused on delivering long-term value to its shareholders.
Westwater Resources (NYSE: WWR) reports increased customer interest in off-take supply agreements for its natural graphite battery anode materials. The company is experiencing heightened interest from U.S. cell makers and electric vehicle OEMs, driven by the evolving global landscape for U.S. critical materials supply and potential changes to the Inflation Reduction Act.
According to Chief Commercial Officer Jon Jacobs, growing risks of increased Chinese import tariffs and potential new tariffs on other countries are accelerating off-take discussions. The company currently has approximately 50% of its expanded Phase II capacity at the Kellyton Plant available and expects to sell the remaining capacity through off-take agreements by year-end.
Westwater Resources (NYSE: WWR) has successfully commissioned its CSPG qualification line at the Kellyton Graphite Processing Plant in December 2024. The new line can produce approximately 1 metric ton of CSPG battery anode material daily, with an initial commissioning trial producing over 500kg of CSPG.
The qualification line consolidates equipment supplier pilot line components into a continuous line, enabling faster and more cost-effective production of multi-ton samples for cellmaker and OEM customers. This facility will serve as a training ground for operators and perfecting manufacturing techniques.
The company is continuing efforts to complete its main production line, which will have a capacity of 12,500 metric tons per year. The qualification line will continue operating after the main plant becomes operational, focusing on developing material variants for new customers at production scale.
Westwater Resources (NYSE American: WWR) supports the U.S. International Trade Commission's (ITC) preliminary determination regarding Chinese graphite exports materially impeding the U.S. domestic graphite industry. This follows the American Active Anode Materials Producers' (AAAMP) December 2024 trade case seeking tariffs up to 920% on Chinese natural and synthetic graphite imports for lithium-ion batteries.
The ITC's January 31, 2025 preliminary determination aligns with AAAMP's claim, based on the U.S. Department of Commerce's calculation of graphite dumping margins up to 915%. The case will proceed for further review, with updates expected from the Department of Commerce and ITC in March, and a preliminary determination on fair value pricing scheduled for May 27th.
Westwater Resources (NYSE: WWR), a battery-grade natural graphite company, responds positively to recent White House Executive Orders focusing on critical minerals development. The orders include a national energy emergency declaration aimed at expanding U.S. mining and processing of critical minerals, including battery-grade graphite.
The Executive Orders direct federal agencies to utilize their authority to boost domestic critical minerals production and require agencies like the EPA and Interior Department to identify and remove 'undue burdens' on domestic mining and processing of non-fuel minerals. Westwater positions itself as the first American, vertically-integrated, battery-grade natural graphite company in response to these developments.
Westwater Resources (NYSE: WWR) has received final investment committee approval from the lead lender for its Kellyton Graphite Processing Plant project. However, the debt financing closing has been delayed as the company works with Cantor Fitzgerald to finalize syndication.
The company has also released its Definitive Feasibility Study (DFS) for Phase II of the Kellyton plant, revealing key metrics: estimated capital costs of $453 million (including 20% contingency), pre-tax NPV of $1.4 billion (8% discount rate), total pre-tax cash flows of $6.3 billion over 35 years, pre-tax IRR of 31.8%, and annual pre-tax cash flow of $192.6 million. Phase II will add 37,500 metric tons of CSPG production capacity, bringing total plant capacity to 50,000 MT including Phase I.
Westwater Resources (NYSE: WWR) has announced that the debt financing for completing the construction of its Kellyton Graphite Plant is expected to close in January 2025. During Q4, the company progressed through diligence and loan documentation processes, including hosting lenders at the Alabama site, completing technical due diligence with an independent engineering firm, and finalizing legal and insurance requirements. The company notes that the closing remains subject to customary terms, final due diligence, and loan conditions.
Westwater Resources (NYSE: WWR) announced key updates for Q3 2024. The company reduced estimated construction costs for Phase I of the Kellyton Graphite Plant by 9.6% to $245 million, down from $271 million, due to design optimization and savings in steel, piping, and equipment installation. WWR signed a binding off-take agreement with Hiller Carbon for graphite fines material, expecting approximately 14,000 mt annual production. The qualification line, expected to be operational in Q4 2024, will produce about 1 mt per day of CSPG for customer sampling. The company reported $4.5 million in cash as of September 30, 2024, and is working to secure debt financing for the remaining $124 million needed to complete Phase I construction.
Westwater Resources (NYSE: WWR) welcomes the U.S. Treasury Department's updated guidance on the 45X Advanced Manufacturing Production Credit. The new guidance allows manufacturers to include both direct and indirect raw material costs in the 10% production tax credit calculation, specifically including graphite flake costs. This update positively impacts Westwater's debt financing economics and enhances its competitive position in producing domestic natural graphite.
Westwater Resources (NYSE: WWR) supports the USTR's decision to implement Section 301 tariffs on natural graphite imports from China. The new 25% tariff, effective in 2026, will apply to three new natural graphite products, expanding on existing tariffs for certain graphite forms. This decision is seen as critical for driving demand for U.S.-produced anode materials.
Jon Jacobs, Westwater's CCO, emphasized the importance of these tariffs in accelerating demand for domestically produced natural graphite. Westwater has made significant progress in constructing its U.S. natural graphite processing plant and has secured offtake deals for all planned CSPG and Fines production from the initial phase of the Kellyton graphite plant through 2031.
Westwater Resources (NYSE: WWR) has announced a binding off-take agreement with Hiller Carbon for the supply of 100% of its natural graphite Fines production from the Kellyton Graphite Plant in Alabama. This agreement, combined with previously announced CSPG off-take agreements with Stellantis and SK ON, means Westwater has now secured sales for 100% of all materials produced from its Kellyton Phase 1 plant.
Under the agreement, Hiller Carbon will purchase approximately 14,000 mt/year of Westwater's Phase I Fines production. Graphite Fines are a byproduct of the CSPG spherodizing process, which is part of producing Westwater's main focus: battery anode natural graphite. This deal marks Westwater's final commercial agreement for securing purchase commitments for all Phase I output, positioning the company to finalize its construction financing.
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