What's Happening?
Locksley Resources has entered into a non-binding agreement with EV Resources to purchase antimony material, aiming 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 is part of Locksley's strategy to enhance its 'mine-to-market' operations, leveraging its DeepSolv processing method to ensure a resilient antimony supply chain.
Why It's Important?
The agreement between Locksley Resources and EV Resources is crucial for the U.S. antimony market, especially as China restricts exports of this critical metal. By securing domestic supply chains, Locksley aims to reduce reliance on foreign sources, potentially boosting U.S. manufacturing sectors that depend on antimony for products like batteries and flame retardants. This move could also stimulate local economic growth and job creation in California's mining industry.
What's Next?
Locksley Resources plans to fast-track its mining operations in California, supported by partnerships and technology deployment. The company is poised to strengthen its position in the U.S. antimony market, potentially influencing domestic policy on critical mineral supply chains. Future developments may include formalizing the ore sales agreement and expanding processing capabilities to meet growing demand.
