Locksley Resources (ASX:LKY) has entered a non-binding heads of agreement with EV Resources (ASX:EVR) to purchase antimony material, as a part of the company’s strategy to develop the Desert Antimony Mine within the Mojave Project in California.
The company will invest $750,000 in exchange for ore samples to be tested at the refining facility, ahead of executing an ore sales agreement that will set a commercial framework for long-term supply.
The company’s DeepSolv processing method will utilise ore supply from EV to complement ore sourced from Mojave ahead of domestic mining.
The variety in ore intends to validate the process for a more resilient and efficient downstream refining, while also pushing the company into the US antimony market.
Chairman Pat Burke says the agreement will have the potential to strengthen Locksley’s ‘mine-to-market’ strategy.
“By securing nearshore feedstock alongside our fast-tracked mining plans in California, Locksley will be well positioned to accelerate the US return to domestic antimony processing,” Burke says.
“With Rice University’s support and the deployment of our DeepSolv technology, our pathway demonstrates that Locksley is assembling the resources, partnerships, and technology to ensure secure, scalable, and independent antimony supply for the United States.”
Historically, China has played a crucial role in the world supply of antimony as the leading producer, as reported by Mining.com.au.
Upon China’s decision to restrict exports of the critical metal last September, countries such as the US are now pushing to construct reliable domestic supply chains.
Antimony is often used as an alloying agent for lead-acid batteries, solder, and pewter, while also a key material in flame retardant systems and the semiconductor industry.
Locksley Resources is a critical minerals explorer focused on developing rare earth and antimony projects in the US.
Write to Maddison Elliott at Mining.com.au
Images: Locksley Resources
