US Critical Minerals Supply Chain at Risk Without Locksley’s Mojave Project Progress
Locksley Resources has made significant strides at its Mojave Project, advancing drilling, securing major US institutional funding, and forging key partnerships to establish a domestic supply chain for critical antimony and rare earth elements.
- Maiden drilling commenced at El Campo REE Prospect and Desert Antimony Mine
- US$191 million non-binding Letter of Interest received from Export-Import Bank of the US
- A$17 million oversubscribed placement led by US institutional investors
- Produced 100% American-made antimony ingot validating domestic processing
- Strategic partnerships with Columbia and Rice Universities to develop processing technologies
Exploration and Development Momentum at Mojave
Locksley Resources Limited (ASX, LKY) has reported a productive December quarter, advancing its Mojave Project in California with a clear focus on establishing a secure, domestic supply chain for critical minerals. The company initiated maiden diamond drilling at both the El Campo Rare Earth Elements (REE) Prospect and the Desert Antimony Mine (DAM), marking a pivotal step in de-risking and defining high-grade mineralisation targets adjacent to the Mountain Pass mine, the only active REE producer in the US.
Complementing drilling, Locksley completed a high-resolution helicopter-borne magnetic and radiometric survey across key project areas. This survey identified pronounced Thorium anomalies mirroring those at Mountain Pass, reinforcing the geological continuity and potential of the Mojave Project. Structural mapping further expanded antimony target strike lengths by 400%, while a LiDAR survey uncovered previously unrecognised quartz-carbonate-antimony veins underground at DAM.
Advancing Processing and Technology Partnerships
On the processing front, Locksley achieved a significant milestone by producing a 100% American-made antimony ingot from Mojave ore, processed domestically by Hazen Research Inc. in Colorado. This validates the company’s integrated mine-to-market strategy, aiming to reduce reliance on foreign supply chains, particularly China-dominated processing.
Strategic collaborations with Columbia University and Rice University are underway to develop next-generation, sustainable processing technologies for REEs and antimony. These partnerships align with US Department of Energy priorities and federal initiatives to bolster domestic critical minerals independence.
Capital and Corporate Strengthening
Financially, Locksley secured an oversubscribed A$17 million placement led by major US institutional investors, underscoring strong market confidence in its strategy. The company also received a non-binding Letter of Interest from the Export-Import Bank of the United States for up to US$191 million in project financing, a substantial endorsement of the Mojave Project’s strategic importance.
Corporate governance was bolstered with the appointment of Kerrie Matthews as Managing Director and CEO, Ian Stockton as Non-Executive Director, and Lieutenant General (Ret.) Mark C. Schwartz as Strategic Advisor for US government initiatives. These appointments bring deep expertise in mining, strategic planning, and defense sector engagement, positioning Locksley to navigate complex federal partnerships and funding pathways.
US Market Positioning and Future Outlook
Locksley has upgraded its US trading status to the OTCQX Best Market and is progressing a sponsored Level 1 American Depositary Receipt program with The Bank of New York Mellon. These moves aim to enhance liquidity, institutional accessibility, and credibility within US capital markets, aligning the company with major peers and facilitating future growth capital.
With exploration drilling underway, pilot plant design progressing, and strong federal engagement, Locksley is poised to become a cornerstone supplier of critical antimony and rare earth elements in the US. The company’s integrated approach, combining resource development with proprietary processing technologies, addresses a critical gap in America’s strategic minerals supply chain.
Bottom Line?
Locksley’s progress signals a turning point in US critical minerals independence, but upcoming drilling results and pilot plant outcomes will be key to sustaining momentum.
Questions in the middle?
- What will the assay results from the maiden drilling at El Campo and Desert Antimony Mine reveal about resource quality and scale?
- How will Locksley secure final binding financing and offtake agreements following the EXIM Letter of Interest?
- Can the pilot plant and processing technologies meet stringent US defense and industrial standards to attract long-term contracts?
