EV Resources (ASX:EVR) takes a strategic leap into antimony

EV Resources (ASX:EVR) takes a strategic leap into antimony

January 28, 2025 Off By MarketOpen

In a bold move diversifying beyond its copper-focused assets, EV Resources (ASX:EVR) has secured a 70% stake in the Los Lirios Antimony Mine in Oaxaca, Mexico.

With global antimony markets tightening and prices surging past US$40,000 per metric tonne, this acquisition positions EVR as a player in an increasingly critical market.

High-Grade Potential at Los Lirios

The Los Lirios acquisition spans 1,652 hectares, featuring historic open pits and underground workings.

Grab samples from the Los Lirios 3 open pit returned exceptional antimony assays of 62% and 62.99%, highlighting the site’s high-grade potential to meet growing global demand.

Hugh Callaghan, EV Resources Managing Director, remarked: “The depletion of Chinese resources and consequent suspension of exports comes after decades of minimal exploration for antimony and closure of most mines outside of China.”

Scaling Operations for Market Needs

While the site has seen recent small-scale mining, EVR aims to scale production by conducting geological mapping, systematic sampling, and preparing for a pilot plant capable of processing 300 tonnes per day.

These efforts will run parallel to JORC-compliant resource estimation.

The company’s focus on Mexico aligns with its strategy to operate in low-cost jurisdictions with skilled labour and infrastructure.

Antimony’s Growing Critical Role

Antimony, essential for applications in flame retardants, batteries, and defence, has seen its market tighten dramatically.

Prices have surged, and customers are facing challenges in securing supply.

“Signs of distress in the antimony market have been evident not only in sharp price rises but also in reported difficulties of some customers in sourcing any antimony,” Callaghan noted.

EVR’s timely acquisition positions it to address this growing supply deficit.

Diversifying While Retaining Copper Focus

Despite this pivot, EVR emphasises its commitment to its copper assets in Peru.

“We believe that the entry to the antimony market will assist us in retaining the copper portfolio in expectation of a more favourable market for copper exploration,” Callaghan stated.

This balanced strategy reflects the company’s focus on long-term market fundamentals rather than chasing transient trends.

Positioned for Success

EV Resources’ acquisition of Los Lirios underscores a growing trend among junior miners adapting to shifting market demands.

With due diligence and exploration underway, the project is poised to help alleviate global antimony shortages.

By diversifying its portfolio and leveraging high-grade assets, EVR is establishing itself as a key player in the critical minerals space.

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