What's Happening?
Locksley Resources has entered a non-binding agreement with EV Resources to purchase antimony material, as part of its strategy to develop the Desert Antimony Mine within the Mojave Project in California. The company plans to invest $750,000 for ore samples to be tested at a refining facility, setting the stage for a long-term supply agreement. This initiative aims to validate Locksley's DeepSolv processing method and strengthen its 'mine-to-market' strategy, positioning the company to accelerate domestic antimony processing in the U.S.
Why It's Important?
The agreement marks a significant step for Locksley Resources in establishing a reliable domestic supply chain for antimony, a critical mineral used in various industries, including batteries and flame retardants. As China restricts antimony exports, the U.S. seeks to secure its supply, making Locksley's efforts crucial for national economic and strategic interests. The development of domestic antimony resources could reduce dependency on foreign imports, enhance supply chain resilience, and support technological advancements in related sectors.
What's Next?
Locksley Resources will proceed with testing ore samples and refining processes, aiming to finalize a commercial framework for long-term supply. The company will continue collaborating with Rice University and deploying its DeepSolv technology to ensure efficient and scalable antimony production. Stakeholders, including industry partners and government agencies, will monitor the project's progress and potential impact on U.S. mineral resource strategies.
