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SAN BERNARDINO, Calif. - Locksley Resources Limited (ASX:LKY; OTCQB:LKYRF) has signed a Research & Development Agreement with Rice University to develop domestic processing capabilities for U.S.-sourced antimony, the company announced Monday.
The collaboration aims to address the absence of commercial-scale antimony processing in the United States while developing applications for the metal in energy storage systems. The agreement focuses on two main initiatives: developing environmentally friendly extraction processes for antimony from Locksley’s Mojave Project, and researching antimony-based materials for energy storage applications. While the company reported modest revenues of $0.04 million in the last twelve months, InvestingPro data shows it maintains a healthy financial position with a current ratio of 12.13, indicating strong liquidity to fund its development initiatives.
"This addresses a critical supply chain gap at a time when no commercial scale antimony processing exists in the U.S.," said Nathan Lude, chairman of Locksley, in the press release.
Professor Pulickel M. Ajayan from Rice University’s Department of Materials Science & Nanoengineering will lead the research efforts. The partnership aims to develop low-energy solvent extraction processes for antimony ores and explore antimony’s potential in lithium-ion and sodium-ion batteries.
Antimony is considered a critical mineral with applications in defense systems, semiconductors, and metal alloys. The United States currently has limited domestic production of antimony, with China being the global leader in production.
Locksley’s Mojave Project in California includes the historic "Desert Antimony Mine," which last operated in 1937. The project comprises more than 250 claims, with some areas adjacent to claims held by MP Materials.
The announcement comes as the U.S. seeks to reduce dependence on foreign sources for critical minerals used in defense and technology applications. While the company’s stock has shown significant momentum, InvestingPro analysis reveals 13 additional key insights about Locksley’s financial health and market position, available to subscribers.
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