Locksley Resources (ASX:LKY) has entered a non-binding memorandum of understanding (MoU) with metallurgical processing provider Hazen Research to conduct toll processing of ore from the Desert Antimony Mine.
The agreement intends to secure an immediate processing capability amid plant design, construction, and development studies being conducted at the mine, within the Mojave Project in California, US.
Along with toll treatment of the ore, workstreams addressed in the MoU includes validating process performance and recovery efficiency when conducted under semi-continuous and batch operations; confirm the metallurgical response and optimised process parameters; as well as generating samples for characterisation testing and data for design criteria and economic evaluation.
Locksley says this agreement aligns with plans to accelerate production timelines, de-risk early operations for processing, while pushing the greater Mojave Project towards commercialisation as per its US mine-to-market strategy.
COO Danny George says the MoU is a critical step in de-risking its ore processing strategy while strengthening the path to revenue.
“This approach allows us to maintain project momentum, optimise metallurgical performance, and provide early market supply, positioning the company to deliver value to shareholders efficiently and safely,” George says.
“The US Government’s clear prioritisation of domestic critical mineral production provides a strong backdrop for our accelerated execution. We are advancing with the right partners, the right timing and clear commercial intent.”
Earlier this week, Locksley secured a letter of intent from the US Import-Export Bank (EXIM), providing up to $191 million in order to advance the Mojave Project, as reported by Mining.com.au.
The financing offer will hold a repayment tenor of 10 years, highlighting US interest in producing a local supply of antimony, after US President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical minerals framework agreement.
Locksley Resources is a critical minerals explorer focused on advancing the Mojave Project in California, targeting rare earths and antimony.
Write to Maddison Elliott at Mining.com.au
Images: Locksley Resources
