Deep Sea Minerals Signed Letter of Intent With Westwin
The companies have agreed to evaluate U.S.-based processing routes for polymetallic nodules found in the Pacific Ocean.
Updated on Sept. 23, 2026 in Business Strategy
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Deep Sea Minerals Corp. and Westwin Elements, Inc. signed a non-binding letter of intent to establish a framework for a potential joint development agreement. The partnership focuses on testing processing pathways for essential minerals including nickel, cobalt, copper, and manganese.
Why it matters
This partnership aims to assess the potential for developing critical mineral processing capacity within the United States. By collaborating on bench- and pilot-scale testing, the firms seek to establish a more viable supply chain for materials sourced from subsea assets.
The collaboration allocates US$100,000 for investor relations services over a maximum period of 90 days. Deep Sea Minerals is responsible for providing geological data, while Westwin Elements manages the costs for bench- and pilot-scale testing.
The players
Deep Sea Minerals Corp.
A company headquartered in Vancouver, BC, that is focused on the exploration and development of subsea mineral assets.
Westwin Elements, Inc.
A firm that specializes in mineral processing technologies and is evaluating paths for critical material refining.
Capital Gain Media Inc.
A media services firm that provides investor relations and marketing support to corporate clients.
The details
Deep Sea Minerals Corp. will supply the necessary polymetallic nodule samples, while Westwin Elements, Inc. will conduct the technical assessment of processing routes. The arrangement serves as a precursor to a potential future joint development agreement between the two firms.
Timeline
February 24, 2026: Original marketing agreement with Capital Gain Media was signed.
May 26, 2026: NOAA issued a notice to the company regarding a mineral application.
June 4, 2026: First marketing agreement extension occurred.
July 9, 2026: Second marketing agreement extension occurred.
September 23, 2026: The non-binding letter of intent was signed.
Market Landscape
This venture highlights the growing industry effort to localize critical mineral supply chains in the United States to reduce reliance on overseas infrastructure. The companies are positioning themselves to capitalize on the increasing demand for high-grade battery materials as domestic processing capacity becomes a competitive priority.
Average consumers may see little direct impact, though the effort to improve domestic processing could eventually influence the cost of electronic goods reliant on cobalt and nickel. Potential investors should note the reliance on non-binding agreements and ongoing regulatory reviews for mineral applications.
The takeaway
This agreement signals a shift toward integrating early-stage subsea exploration with domestic refining capabilities. Stakeholders should monitor whether these companies move from non-binding frameworks to a definitive joint development agreement in the coming months.
Further reading
For more information on corporate developments, visit the Business Strategy section.
More information
View the Westwin Elements corporate information on the company's official website.
Source note: This article includes information reported by Financial Post.
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