What's Happening?
Locksley Resources has engaged US advisory group GreenMet to advance the Mojave Critical Minerals Project in California. This partnership aims to secure grants, loans, and offtake programs from various US government departments, including the Department of Energy and Department of Defence. Locksley Resources, with a market capitalization of $78.67 million, views this collaboration as a significant milestone, positioning the Mojave Project at the center of the US national security and energy resilience strategy. The project targets rare earths and antimony, crucial for defense and energy systems.
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Why It's Important?
The partnership between Locksley Resources and GreenMet underscores the strategic importance of the Mojave Project in bolstering US domestic supply chains for critical minerals. With no primary antimony mines currently operating in the US, the nation relies heavily on imports and recycled materials. The Mojave Project's focus on rare earths and antimony could reduce this dependency, enhancing national security and supporting emerging technologies. This collaboration aligns with US government initiatives to secure resilient supply chains, potentially benefiting the defense and technology sectors.
What's Next?
Locksley Resources will continue to develop the Mojave Project, leveraging its partnership with GreenMet and collaboration with Rice University. The company plans to invest US$550,000 in project funding over the next year to support research and development, focusing on green hydrometallurgical extraction and energy storage applications. As the project progresses, stakeholders will likely monitor its impact on US supply chains and the broader critical minerals market. Future developments could influence policy decisions and investment strategies in the sector.
