Westwin Elements is moving ahead with plans to build the first nickel refinery in the United States, aiming to reduce the country’s dependence on foreign sources of the metal. The refinery, to be located in Lawton, Oklahoma, is expected to scale up to 64,000 metric tons of annual capacity. In January, the project received a letter of interest from the U.S. Export-Import Bank for up to $188 million in potential debt financing.
The U.S. currently produces no primary nickel and relies heavily on imports—primarily from Indonesia, which has seen a surge in production backed by Chinese investment and technology. This oversupply has contributed to a steep drop in global nickel prices. On May 9, the London Metal Exchange cash price for nickel stood at $15,620.98 per tonne, still well below 2022–2023 highs.
Despite the low price environment, Westwin CEO KaLeigh Long believes the Oklahoma refinery can operate competitively. She points to the company’s role as a processor—rather than a miner—which allows Westwin to buy feedstock at market prices and sell refined product on a formula basis. According to Long, Chinese producers are also incurring losses, and some state-backed companies are under financial pressure, potentially establishing a price floor around $16,500 per tonne.
Logistics remain a challenge for U.S.-based production due to China’s proximity to low-cost suppliers and end users. Long said that access to domestic feedstock, such as from the proposed NorthMet copper-nickel mine in Minnesota—recently added to the U.S. FAST-41 permitting program—would help level the playing field by reducing transport costs and improving supply chain reliability.
Environmental and social concerns are also part of Westwin’s value proposition. The company believes U.S.-based operations will avoid some of the deforestation and labor issues associated with Indonesian supply. However, Long noted that while customers often voice interest in “green nickel,” this has yet to translate into meaningful price premiums.
She also expressed skepticism about the complexity of current U.S. policy tools, such as ownership-based restrictions tied to tax credits, and argued that tariffs offer a clearer and more effective way to support domestic producers. According to Long, tariffs are easier for customers to factor into pricing models and help U.S. products remain cost-competitive.
While growth in U.S. electric vehicle adoption may be slower than expected, Long said broader industrial demand for Class 1 nickel—from stainless steel to aerospace—remains steady. She also highlighted emerging demand drivers, including robotics and AI-related hardware, as reinforcing long-term nickel usage.
