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Kellyton Today
By the People, for the People
Westwater Resources Loses Graphite Supply Deal with SK On
Termination reflects 'challenging and evolving environment' for battery customers, CEO says.
Apr. 1, 2026 at 9:23pm
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Westwater Resources announced that its customer SK On, a major car battery company, has terminated their graphite supply agreement. The deal, formed in 2024, had SK On purchasing a portion of the production capacity at Westwater's Kellyton graphite plant currently under construction. Westwater's CEO cited the 'challenging and evolving environment' facing their customers as the reason for the termination, though SK On indicated a willingness to consider future agreements.
Why it matters
The loss of this supply agreement is a setback for Westwater as it works to establish domestic production of battery-grade graphite, a key material for electric vehicle batteries. It reflects the volatility and uncertainty in the global supply chain for critical minerals and components needed for the clean energy transition.
The details
Through the 2024 deal, SK On had agreed to purchase a portion of the production capacity at Westwater's Kellyton graphite plant, which is currently under construction in Alabama. Westwater's CEO Frank Bakker said SK On's decision 'reflects the challenging and evolving environment our customers are navigating,' though SK On has indicated openness to future agreements. Westwater remains focused on executing and advancing its graphite production projects, with the company expecting initial battery-grade graphite output within 12 months of securing remaining project financing.
- The graphite supply agreement between Westwater Resources and SK On was formed in February 2024.
- Westwater announced the termination of the agreement on April 1, 2026.
The players
Westwater Resources
A company focused on the production of battery-grade graphite, a critical mineral for electric vehicle batteries.
SK On
A major South Korean car battery manufacturer that had agreed to purchase a portion of the production capacity at Westwater's Kellyton graphite plant.
Frank Bakker
The Chief Executive Officer of Westwater Resources.
What they’re saying
“SK On's decision reflects the challenging and evolving environment our customers are navigating. While market conditions and tariffs remain dynamic, our continued focus is on executing and advancing our projects.”
— Frank Bakker, Chief Executive Officer, Westwater Resources
What’s next
Westwater Resources expects to secure the remaining project financing needed to begin initial production of battery-grade graphite at its Kellyton plant within the next 12 months.
The takeaway
The termination of Westwater's graphite supply agreement with SK On highlights the volatility and uncertainty in the global supply chain for critical minerals needed for the clean energy transition. It underscores the importance of domestic production of these materials to reduce reliance on foreign sources and ensure a reliable supply for the growing electric vehicle industry.
