What's Happening?
Locksley Resources is fast-tracking redevelopment plans and extraction studies at the Desert Antimony Mine in California. The company is advancing workstreams to facilitate extraction operations, including
development planning and engaging mining consultants. Locksley is also seeking expressions of interest from contractors for mineral extraction and submitting plans to the Bureau of Land Management. The company is leveraging a $191 million letter-of-intent to secure development finance, aiming to support US objectives for domestic sources of defense-essential materials.
Why It's Important?
The advancement of the Desert Antimony Mine is crucial for the US as antimony is a priority under federal supply chain resilience frameworks. Antimony is used in various defense applications, and securing a domestic supply is vital for national security. Locksley's progress supports US efforts to rebuild domestic sources of critical minerals, reducing dependence on foreign imports. This initiative aligns with broader policy goals to enhance supply chain resilience and support industrial growth.
What's Next?
Locksley plans to continue discussions with US funding agencies to secure definitive development finance. The company is generating product samples to meet industrial and defense sector specifications. Drilling at the Desert Antimony Mine aims to inform a maiden mineral resource estimate, with multiple technical areas being enhanced. Locksley is positioned to progress from exploration to execution, potentially influencing policy decisions and encouraging further investment in the US antimony industry.
