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Locksley Resources Limited (ASX: LKY,OTC:LKYRF, OTCQX: LKYRF) announced the receipt of a Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) outlining the intent to provide up to US$191 million in potential project financing support for the Company's Mojave Project in California. EXIM, a wholly owned independent agency of the U.S. Government, operates under a Congressional mandate to promote American economic and national security interests through project and export financing. Its recent Supply Chain Resiliency Initiative and China and Transformational Exports Program prioritize funding for critical mineral projects that reduce foreign supply dependence and rebuild U.S. industrial capability. Additional details can be found here: https:cdn-api.markitdigital.comapiman-gatewayASXasx-research1.0file2924-03017919-6A1295024&v=undefined.
"This LOI represents a cornerstone in Locksley's engagement with U.S. federal agencies and paves the way for detailed due diligence and underwriting to advance a comprehensive financing package for the Mojave Project," said Kerrie Matthews, Managing Director and CEO of Locksley. She added that the LOI provides a foundation to progress formal financing discussions while advancing the Company's downstream and offtake plans. "With our 100% American made antimony ingot now produced, we are demonstrating Locksley's capacity to deliver the next generation of U.S. critical minerals for supply chains."
Locksley continues to accelerate development and shorten the traditional mining project timeline via government support across parallel workstreams. Upstream the company has fast-tracked development of the Desert Antimony Mine through both conventional and non-traditional methods, enabling near-term ore supply. Downstream the company is collaborating with Rice University's Deep Solve™ program and modular processing options to establish U.S. refining capacity at speed. And, by focusing on direct alignment with U.S. defense, energy transition and industrial partners to deliver 100% Made in America antimony, the company is establishing an integrated supply chain. This multiple track approach positions Mojave as one of the fastest moving U.S. antimony developments, directly supporting U.S. national security and clean energy priorities.
Drew Horn, a former White House Advisor on Critical Minerals and Chief Executive of GreenMet, which serves as consultants to Locksley said, "EXIM's Letter of Interest represents more than just financial support. It reflects a coordinated U.S. government directive to rebuild domestic critical minerals capability. We are now entering a period where nearly all federal funding in this sector is being directed under White House led initiatives and Locksley is benefitting from this effort."
Locksley Resources (https://www.locksleyresources.com.au) is focused on critical minerals in the U.S. The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This integrated approach combined resource development with innovative processing and separation technologies, positions Locksley to play a key role in advancing U.S. critical minerals independence.
Contact: Beverly Jedynak, beverly.jedynak@viriathus.com, 312-943-1123; 773-350-5793
View original content:https://www.prnewswire.com/news-releases/locksley-receives-up-to-us191-million-potential-support-from-exim-for-us-critical-minerals-push-302602203.html
SOURCE Locksley Resources
