Locksley Resources (ASX:LKY) has received a letter of interest from the US Export-Import Bank (EXIM) outlining its intent to provide up to $191 million to support the Mojave Project in California.
The company will be required to satisfy the underwriting criteria, complete full due diligence, and finalise definitive documentation to receive the potential financing, which holds a repayment tenor of 10 years.
Pushing Mojave towards development, Locksley intends to secure additional government and institutional support, prepare workstreams for mine development and downstream processing pathways, and expedite commercial production at a pilot-scale.
Locksley executives will attend meetings in Washington DC in the coming weeks to develop discussions around the company’s US mine-to-market collaboration strategies.
CEO Kerrie Matthews says the letter of intent from EXIM is a “strong endorsement” of the company’s US-based strategy and its momentum from government and industry partners.
“The letter of intent provides a foundation to progress formal financing discussions while advancing our downstream and offtake plans,” Matthews says.
“With our 100% American-made antimony ingot now produced, we are proving Locksley’s capacity to deliver the next generation of US critical mineral supply chains.”
As reported by Mining.com.au, the company engaged US advisory firm GreenMet to advance the project with grant, loan, and offtake programs.
GreenMet CEO and former White House Advisor for Critical Minerals Drew Horn says EXIM’s involvement reflects a coordinated US Government directive to rebuild domestic critical minerals capability
“The fact that EXIM’s engagement aligns with current White House priorities underscores how strategically important Locksley’s Mojave Project has become,” Horn says.
“We are now entering a period where nearly all federal funding in this sector is being directed under White House-led initiatives and Locksley stands at the forefront of that effort.
“The combination of EXIM support and the successful production of a 100% American-made antimony ingot demonstrates tangible progress toward full US supply chain independence.”
Locksley’s US mine-to-market strategy is focused on running parallel workstreams to produce US-made antimony via government funding.
US President Donald Trump and Australian Prime Minister Anthony Albanese recently signed a critical minerals framework agreement in Washington DC to organise a secure supply amid export bans from China.
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
