Westwin Elements Secures Option to Extend Traxys Nickel Agreements for Up to 22 Years, Potentially Worth $3.96 Billion

OKLAHOMA CITY--(BUSINESS WIRE)--Westwin Elements, America’s only Class 1 nickel refinery, and Traxys, a leading global physical trader and merchant in metals and natural resources, today announced agreements under which Westwin may extend its existing feedstock and nickel offtake arrangements with Traxys for a total term of up to 22 years. The amended and restated agreements give Westwin a long-term pathway to secure feedstock and offtake as it expands its U.S. production, reducing commercial risk while strengthening the domestic nickel supply chain.

If Westwin exercises the option for the full term, the nickel offtake component alone could represent approximately USD 3.96 billion in total transaction value, based on current nickel market prices.

Building on the partnership the companies first announced in 2025, under which Traxys supplies mixed hydroxide precipitate (MHP) feedstock to Westwin's planned commercial refinery and purchases refined nickel briquettes from the facility, the amended agreement provides Westwin the option to extend both arrangements for a total of up to 22 years. Traxys and Westwin will collaborate to identify and secure feedstock sources, subject to Westwin's approval. This collaboration complements Westwin's ongoing efforts to develop domestic feedstock sources and diversify supplier relationships as the Company expands its refining capacity.

“The extended framework with Traxys supports our plans to scale production, secure reliable feedstock supply and develop long-term markets for our products,” said KaLeigh Long, founder and Chief Executive Officer of Westwin Elements. “As we expand our U.S. refining capacity, we will continue building additional customer and supplier partnerships alongside our relationship with Traxys to strengthen America’s domestic nickel supply chain.”

“Our partnership with Westwin reflects Traxys’ continued commitment to strengthening secure U.S. supply chains for critical materials,” said Mark Kristoff, Chief Executive Officer of Traxys. “This long- term extension provides a framework that can support additional feedstock supply and refined nickel sales. The extended tenor may also help underpin Westwin’s longer-term development and financing plans as it scales domestic nickel production.”

The agreement supports Westwin’s growing U.S. refinery footprint. Westwin has demonstrated its refining process at its demonstration plant in Lawton, Oklahoma, and is developing plans for commercial scale operations capable of supplying high-purity nickel for national security and industrial applications. As Westwin brings additional capacity online, the arrangement provides another avenue to supply its expanding operations and scale domestic nickel production.

About Westwin Elements

Westwin Elements is building America's only major nickel refinery, delivering high-purity Class 1 nickel and specialized nickel products for national security and industrial applications. Westwin is driving critical mineral independence and reshaping the future of sustainable metal refining. Learn more at www.westwinelements.com.

About Traxys

Traxys is a leading global physical commodity trader and merchant in the metals and natural resources sectors, with annual turnover in excess of USD 10 billion. Headquartered in Luxembourg and with operations in over 20 countries, Traxys is engaged in sourcing, trading, marketing, and distributing non-ferrous metals, ferro-alloys, minerals, industrial raw materials, and energy products.

Traxys has been selected as one of a small number of authorized commodities trading firms to participate in Project Vault, the U.S. Government-backed strategic critical minerals reserve program.

Traxys is committed to the highest internationally recognized principles for responsible business conduct, and to ensuring that its operations are equitable, sustainable, and transparent. Learn more at www.traxys.com.