Locksley Resources (ASX:LKY | OTCQX:LKYRF | FSE:X5L) EXIM Bank backs U.S. antimony revival with potential US$191M support

Locksley Resources has taken a pivotal step toward cementing its place at the forefront of America’s reshoring of critical mineral supply chains, with the U.S. Export-Import Bank (EXIM) issuing a Letter of Interest (LOI) signalling potential financing support of up to US$191 million for the company’s Mojave Project in California.

The proposed support places Locksley’s antimony and rare earths ambitions squarely within Washington’s renewed drive to rebuild domestic processing capacity under the White House’s supply chain resilience agenda.

Highlights

• U.S. Export-Import Bank issues LOI indicating potential financing of up to US$191 million for the Mojave Project

• EXIM is the official export-credit agency of the U.S. Government, prioritising projects that strengthen domestic industrial capability

• The initiative aligns with the White House directive to restore critical minerals independence and reduce reliance on Chinese supply chains

• Locksley recently produced a 100% American-made antimony ingot, marking a major milestone in its mine-to-metal strategy

• Company executives will meet with U.S. government agencies in Washington D.C. in mid-November to advance collaboration

The EXIM LOI marks an early but vital milestone in Locksley’s engagement with U.S. federal agencies, paving the way for detailed due diligence and potential underwriting of a comprehensive project financing package.

While non-binding, the letter signals formal recognition of the Mojave Project’s alignment with the U.S. Government’s industrial policy and defence priorities.

EXIM’s mandate under the Supply Chain Resiliency Initiative and the China and Transformational Exports Program specifically targets projects that rebuild U.S. capability in critical sectors such as rare earths and antimony.

The timing of the development follows the recent U.S.–China trade accord in which Beijing suspended new critical mineral export controls.

In that context, Washington has reiterated its intention to prioritise local sourcing and processing to mitigate future supply risk. Locksley’s Mojave Project, with its blend of antimony and rare earths, offers a domestic alternative in a market long dominated by Chinese production.

The project’s strategic relevance has been further underscored by its proximity to MP Materials’ Mountain Pass operations, the only active rare earths mine in the U.S., and by Locksley’s successful casting of a 100% American-made antimony ingot sourced from Mojave and processed entirely on U.S. soil.

This milestone validates Locksley’s mine-to-metal business model and establishes a foundation for future scaling under U.S. federal frameworks such as the Defense Production Act and the Inflation Reduction Act.

“EXIM’s engagement represents a strong endorsement of Locksley’s U.S. strategy and the momentum we have built with government and industry partners,”

said Chief Executive Officer Kerrie Matthews

“With our 100% American-made antimony ingot now produced, we are proving Locksley’s capacity to deliver the next generation of U.S. critical mineral supply chains.”

Under the LOI, potential financing of up to US$191 million would be subject to EXIM’s underwriting process, including technical, financial, and legal due diligence, with any finalised package expected to extend over a 10-year repayment term, providing a long-term platform for development and downstream integration.

The company will now progress its formal application with EXIM, alongside additional engagement with U.S. programs under the Defense Production Act and Department of Energy loan guarantees.

Locksley Resources‘ forward plan incorporates a fast-tracked “mine-to-market” model, combining upstream development of the historic Desert Antimony Mine with downstream partnerships, including collaboration with Rice University’s DeepSolv™ program to accelerate domestic refining capacity.

The initiative aligns directly with the U.S.–Australia Critical Minerals Framework Agreement signed earlier this year in Washington D.C., which links bilateral cooperation on supply chain development and financing support through the Australian Export Finance Agency.

As the first Australian-listed company to produce a 100% American-made antimony product, Locksley has positioned itself at the confluence of industrial policy, national security, and clean energy priorities.

The coming months will determine whether EXIM’s preliminary backing translates into a definitive funding commitment, but the direction is clear: the United States is moving decisively to rebuild its critical minerals base, and Locksley’s Mojave Project is firmly in that frame.

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