Westwater Resources, Inc. has secured formal approval from the Export-Import Bank of the United States for a $25 million direct loan to fund ongoing construction, equipment installation, and commissioning at the Kellyton Graphite Plant in central Alabama.

The financing is provided through EXIM’s Make More in America Initiative, moving the project forward from a previously issued non-binding letter of interest to an approved funding commitment. J.P. Morgan’s Securitized Products Group acted as Arranger and Structuring Agent for the transaction.

The $25 million in non-dilutive capital is earmarked to support operational readiness and advance construction toward the target of commencing commercial production in 2027. Phase I of the facility is designed to produce approximately 12,500 metric tons of coated spherical purified graphite annually, creating about 100 permanent jobs in rural Alabama. The plant forms the downstream processing component of Westwater Resources’ vertically integrated strategy, which is anchored by the Coosa Graphite Deposit located roughly 30 miles away.

The loan remains subject to the execution of definitive loan documentation and the satisfaction of customary closing conditions.

“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. 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.”

— Terence Cryan, Executive Chairman of Westwater Resources

“EXIM’s approval is a strong validation of Kellyton’s strategic and economic importance. This $25 million commitment provides an important source of non-dilutive capital as we work to complete the plant.”

— Steve Cates, Senior Vice President and Chief Financial Officer of Westwater Resources

“Under President Trump’s leadership, America is leading the way in critical minerals development and rare earths processing. 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.”

— John Jovanovic, EXIM Chairman

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