Locksley Resources has received a letter of interest (LoI) from the Export-Import Bank of the United States (EXIM) for potential financing of up to $191m (A$293.11m) for its Mojave project in California.

This project is positioned as a “flagship” initiative under the White House’s directive to rebuild domestic supply chains for antimony and rare earth elements (REEs).

GreenMet chief executive and former White House Advisor on critical 
minerals Drew Horn said: “EXIM’s letter of interest represents more than just financial support, it reflects a coordinated US Government directive to rebuild domestic critical minerals capability. The fact that EXIM’s engagement aligns with current White House priorities underscores how strategically important Locksley’s Mojave project has become.

“We are now entering a period where nearly all federal funding in this sector is being directed under White House-led initiatives and Locksley stands at the forefront of that effort. The combination of EXIM support and the successful production of a 100% American-made antimony ingot demonstrates tangible progress toward full US supply chain independence.”

Recent developments, including the November 2025 US-China trade agreement, under which China suspended new export controls on rare earth and critical minerals, have further reinforced US support to establish Western-based critical mineral supply chains.

The Mojave antimony project is presented as a low-risk, US-hosted solution that reduces dependence on Chinese supply.

Recently, Locksley announced the successful casting of a 100% American-made antimony ingot, produced entirely on US soil using feedstock sourced from the Mojave project.

Following the signing of the US and Australia critical minerals framework agreement between President Donald Trump and Prime Minister Anthony Albanese, the Mojave project has been recognised as directly supporting this bilateral initiative.

The project is also supported by commitments from the Australian Export Finance Agency.

The LoI is described as a pivotal step in Locksley’s collaboration with federal agencies, paving the way for thorough due diligence and underwriting to support a comprehensive financing package for the Mojave project.

EXIM, an independent US Government agency, operates under a Congressional mandate to advance US economic and national security interests via project and export financing.

The Supply Chain Resiliency Initiative and China and Transformational Exports Programme prioritise funding for critical minerals projects that decrease reliance on foreign sources and strengthen US industrial capability.

Story Continues

Locksley Resources managing director and CEO Kerrie Matthews said: “EXIM’s engagement represents a strong endorsement of Locksley’s US strategy and the momentum we have built with government and industry partners. The LoI provides a foundation to progress formal financing discussions while advancing our downstream and offtake plans.

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

In September, Locksley added 249 additional claims to its landholding of more than 40km² of highly prospective critical minerals in the Mojave region.

"Locksley receives LoI from EXIM for Mojave project in California " was originally created and published by Mining Technology, a GlobalData owned brand.

The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

View Comments