Talon Metals and Westmoreland Mining Sign Land Agreement to Progress North Dakota Minerals Processing Facility

Core Viewpoint - Talon Metals Corp. has secured a site from Westmoreland Mining to develop the Beulah Minerals Processing Facility, aimed at processing critical minerals to reduce U.S. dependence on foreign sources, particularly China and Russia [1][3]. Group 1: Project Overview - The Beulah Minerals Processing Facility (BMPF) will be located on approximately 256 acres of the former Westmoreland coal mine site in Mercer County, North Dakota, and will include a 7-mile rail spur for transportation [3][10]. - The facility is expected to process high-grade nickel and copper ore sourced from the Tamarack mine in Minnesota and other North American locations, enhancing the efficiency of mineral extraction [5][9]. - The project is supported by a $114.8 million grant from the U.S. Department of Energy and an additional $2.47 million from the Defense Logistics Agency for innovative research [3][4]. Group 2: Economic and Employment Impact - The BMPF is projected to create up to 150 high-quality direct jobs and hundreds more during its construction phase, contributing to local economic growth [3][4]. - The project is seen as a significant step towards strengthening America's economic and national security by establishing a domestic supply chain for critical minerals [3][4]. Group 3: Strategic Importance - The BMPF represents a collaboration across energy, mining, and critical mineral industries, transforming a legacy coal mine into a hub for critical minerals processing [3][4]. - This initiative aligns with U.S. strategies to reduce reliance on foreign-sourced critical minerals and positions the country as a leader in critical mineral processing [4][9]. Group 4: Agreement Details - Talon has a three-year purchase option for the land, with an initial three-month due diligence period, allowing the company to secure the property at its discretion [10][11]. - Upon exercising the purchase option, Talon will pay Westmoreland $0.50 per metric ton of ore delivered to the BMPF, with a cap on the total purchase price set at $10 million [14][15].