++Locksley Resources (ASX: LKY)++ has received up to US$191 million in support from the US government to push its Mojave antimony and rare earths project in California.
The US Export-Import Bank (EXIM) has issued a letter of interest as a flagship initiative under a congressional mandate to rebuild domestic antimony and rare earths supply and processing capability.
A definitive commitment will be contingent upon Locksley satisfying the underwriting criteria, completing full due diligence – including technical, financial, and legal reviews – and finalising the necessary documentation.
First Antimony Ingot
The financial support comes days after Locksley produced the ++first antimony ingot++ using feedstock sourced from Mojave and processed entirely on US soil.
The domestically-sourced and refined product validated the country’s only known mine-to-metal supply chain for antimony and marked a return to US antimony metal production after a 24-year hiatus.
Demand for the metal remains high due to its essential role in defence systems, semiconductors, and metal alloys.
Project Funding Package
EXIM, the official export credit agency US government, is tasked with strengthening domestic industrial resilience and reducing foreign supply dependence in strategic sectors.
Locksley managing director Kerrie Matthews — whom the company promoted to the role just last week — said the company expected the potential financing to pave the way for a comprehensive funding package for Mojave.
“EXIM’s engagement represents a strong endorsement of our US strategy and the momentum we have built with government and industry partners,” she said.
“This letter of interest provides a foundation for us to progress formal financing discussions while advancing our downstream and offtake plans to deliver the next generation of US critical mineral supply chains.”
Mine-to-Market Strategy
Locksley continues to accelerate planning for its US mine-to-market strategy with the ++fast-tracked development of Mojave’s Desert mine++ to enable near-term ore supply, and a ++collaboration with Rice University++ to establish US refining capacity at speed.
The company aims to deliver domestically-produced antimony to US defence, energy transition and industrial partners.
Ms Matthews said Locksley executives would attend key meetings in Washington DC this month to advance discussions on the mine-to-market approach.
