What's Happening?
Locksley Resources has entered a non-binding agreement with EV Resources to purchase antimony material for its Desert Antimony Mine within the Mojave Project in California. The company will invest $750,000 for ore samples to be tested at a refining facility, aiming to establish a long-term supply framework. This move is part of Locksley's strategy to develop domestic antimony processing capabilities, leveraging its DeepSolv technology and partnerships.
Why It's Important?
The agreement positions Locksley Resources to strengthen its 'mine-to-market' strategy and accelerate the U.S. return to domestic antimony processing. With China's restriction on antimony exports, the U.S. is pushing to construct reliable domestic supply chains. Antimony is crucial for various industries, including lead-acid batteries and flame retardant systems. Locksley's initiative could enhance U.S. supply chain resilience and support the growing demand for critical minerals.
What's Next?
Locksley Resources plans to execute an ore sales agreement to establish a commercial framework for long-term supply. The company aims to validate its DeepSolv processing method and expand its presence in the U.S. antimony market. Continued collaboration with Rice University and strategic partnerships will be key to achieving scalable and independent antimony supply.
