What's Happening?
Locksley Resources Limited has received a Letter of Interest from the Export-Import Bank of the United States (EXIM), indicating potential project financing support of up to $191 million for its Mojave Project in California. This development marks a significant
step in Locksley's engagement with U.S. federal agencies, opening pathways to additional government funding under the Defense Production Act Title III and the Department of Energy's Supply Chain Resiliency Initiative. EXIM's involvement aligns with the U.S. government's strategy to strengthen domestic industrial resilience and reduce foreign dependence on critical minerals and rare earths. Locksley's Mojave Project is positioned as a flagship initiative under the White House's directive to rebuild domestic supply and processing capacity for strategic minerals.
Why It's Important?
The potential financial support from EXIM underscores the strategic importance of Locksley's Mojave Project in the context of U.S. critical minerals policy. As the U.S. seeks to reduce reliance on foreign sources, particularly from China, Locksley's initiative represents a move towards establishing a fully American-made supply chain for antimony and rare earths. This aligns with national security and economic independence goals, providing a low-risk, U.S.-hosted solution. The successful production of a 100% American-made antimony ingot further validates Locksley's Mine-to-Metal model, offering a foundation for commercial scaling under federal frameworks like the Defense Production Act and Inflation Reduction Act.
What's Next?
Locksley plans to accelerate the development of the Mojave Project through a fast-track mine-to-market strategy. This includes the rapid development of the Desert Antimony Mine and collaboration with Rice University's DeepSolv Program to establish refining capacity on U.S. soil. The company aims to integrate its supply chain with U.S. defense, energy transition, and industrial partners, embodying the Mines of the Future framework. The next steps involve progressing formal financing discussions and advancing downstream and offtake plans, leveraging the momentum built with government and industry partners.
