Locksley Resources Ltd (OTCMKTS: LKYRF) (ASX: LKY) (FRA: X5L) and its partner Hazen Research have successfully produced the first domestically sourced and refined U.S. antimony ingot in almost a quarter century.
The company said Monday that the milestone represents proof-of-concept for a fully American mine-to-metal supply chain. Ore was sourced from Locksley’s Mojave antimony and rare earth elements project in California and refined in Hazen’s laboratory.
It marks the first time that one of these metalloid bricks has been poured in the country since 2001 in Idaho. Now, following several years of stagnancy, antimony has become a hot commodity intriguing investors. The critical mineral’s price has risen by over 300 per cent within the past year.
As confirmed by the United States Geological Survey, no marketable American antimony has been mined in recent years.
“This isn’t just a corporate milestone,” commented Andrew Moore, founder of a Washington DC public affairs agency, “it’s a national achievement that validates what many thought impossible: a fully domestic mine-to-metal supply chain for a critical mineral, completely independent of foreign processing.”
The accomplishment is supportive of U.S. government and Presidential Executive Orders intended to re-establish U.S. production of critical minerals essential for defence and clean energy tech, as highlighted by CEO Kerrie Matthews. Nonetheless, it does not mean that full-scale antimony production has been achieved. It is rather a step in the right direction.
The news follows Locksley producing a premium-grade antimony (Sb) concentrate from material at the Mojave project’s historical Desert Antimony Mine. It yielded an exceptionally high grade of 68.1 per cent Sb, more than 10 per cent above the marketable minimum for smelters.
Locksley’s Mojave project is situated 1.4 kilometres from the only operational rare earths mine in the United States: the Mountain Pass operation run by MP Materials (NYSE: MP) (FRA: 55H0).
Locksley just revealed that a diamond drill rig will be deployed at the El Campo rare earth elements prospect within the Mojave property area by the end of the year.
“With BLM approvals in place and the drilling contractor engaged, the company is now fully prepared to commence diamond drilling at El Campo and to evaluate the depth and continuity of REE mineralization identified at surface and proximal to Mountain Pass,” said Matthews in an ASX announcement on Oct. 22.
Alongside the dollar value of antimony, the price of Locksley stock has risen immensely over the past year. It went from being valued at a mere C$0.02 to C$0.42.
Despite the current bullish outlook for the antimony sector among many market observers, its continued growth in North America, Australia and abroad is largely dependant on continued supply chain issues with the Chinese. It also hinges on persistent heightened demand for semiconductors, flame retardants and energy storage technologies.
American antimony ingot. Photo credit: Locksley Resources
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