Locksley Resources Limited (ASX: LKY) has announced it is strengthening its antimony supply strategy by entering into a non-binding Heads of Agreement with EV Resources Limited (EVR). Locksley Resources is an ASX listed explorer focused on critical minerals in the United States of America. The agreement outlines the potential purchase of EVR’s antimony material through an Ore Sales Agreement, along with a strategic investment of A$0.75 million in EV Resources, contingent upon a binding agreement and EVR shareholder approval. This move is designed to support the development of Locksley’s DeepSolv™ processing method and access the substantial U.S. antimony market.
The agreement is set to provide Locksley with access to multiple ore supplies, complementing the development of its Desert Antimony Mine at Mojave. This aims to accelerate the availability of critical materials necessary for U.S. defence security. The collaboration also grants Locksley priority access to antimony samples from EV Resources’ Los Lirios operations for test work at Rice University, fostering a diversified North American supply chain. The strategic rationale is underpinned by securing EVR beneficiated ore to accelerate deployment of DeepSolv™, a proprietary solvometallurgical process developed with Rice University.
Under the terms of the non-binding agreement, EVR will send representative ore samples to Locksley’s refining facility for testing and validation. The parties will then seek to formalise a binding Ore Sales Agreement, establishing a framework for a long-term supply partnership focused on supporting downstream processing studies. Locksley’s Chairman, Pat Burke, stated that the agreement strengthens the company’s mine-to-market strategy and positions Locksley to accelerate the return of domestic antimony processing in the U.S.
The cooperation intends to secure a potential long-term customer for EVR’s concentrate while reinforcing Locksley’s access to a secure supply of antimony for its proprietary refining technology. The company believes this agreement will strengthen their position in reshaping North American supply chains for critical minerals, in conjunction with their Mojave development, through access to near-shore feedstock to accelerate the U.S. return to domestic antimony processing.
