EV Resources Secures First Five-Year Antimony Ore Supply Agreement for Tecomatlán Hub
Key Takeaways
- •EV Resources signed a binding five-year ore supply agreement through subsidiary Stibcorp with Lucero Grupo Minero de Puebla for high-grade antimony ore from the Chinantla mine.
- •The Chinantla mine is located approximately 8 kilometres from the Tecomatlán processing plant, offering relatively low transport logistics compared with more remote antimony assets.
- •Metallurgical testing demonstrated that flotation achieved 81.1% antimony recovery with a 42.4% concentrate grade, significantly outperforming gravity concentration alone.
- •EV Resources is acquiring an initial 200-tonne stockpile of Chinantla ore to provide feedstock for its planned proof-of-concept processing campaign at Tecomatlán.
- •China's 2024 export restrictions have intensified global demand for alternative antimony supply, with the mineral designated as critical by the United States, the European Union, and Australia.
EV Resources (ASX:EVR) has secured its first binding five-year ore supply agreement, advancing efforts to commercialise its Tecomatlán antimony processing hub in Mexico ahead of a planned proof-of-concept processing campaign.
The agreement was signed through the company's Mexican subsidiary Stibcorp with Lucero Grupo Minero de Puebla, formalising a previously announced memorandum of understanding into a long-term commercial supply arrangement.
Under the terms of the deal, the Chinantla mine — located approximately 8 kilometres from the Tecomatlán processing plant — will supply high-grade antimony ore. The short haul distance between mine and plant positions the project with relatively low transport logistics compared with more remote antimony assets. Pricing will be linked to international antimony benchmark prices and payable antimony grades.
EV Resources reported that Chinantla ore has been validated through metallurgical testing. Flotation testwork achieved antimony recoveries of 81.1% and produced a concentrate grading 42.4% antimony. By comparison, gravity concentration alone delivered 29.25% recovery and a 20.54% concentrate grade.
Separately, the company is progressing the acquisition of an initial 200-tonne stockpile of high-grade Chinantla ore, intended to provide feedstock for the upcoming proof-of-concept processing campaign.
Executive chairman Shane Menere described the agreement as a significant strategic step.
"This is an important milestone because we are progressively bringing together every component required for the Tecomatlán proof-of-concept campaign: the plant, the processing flowsheet, tested high-grade ore and now our first binding long-term commercial supply relationship," he said.
EV Resources outlined its immediate priorities as completing the 200-tonne ore stockpile acquisition, finishing commissioning activities at Tecomatlán, launching the proof-of-concept processing campaign, and converting additional supply agreements into long-term commercial contracts.
The company noted that demand for non-Chinese antimony supply continues to be underpinned by export restrictions introduced by China in 2024. China has historically been the world's largest antimony producer, and its export controls have intensified global efforts to secure alternative supply sources. Antimony has been designated a critical mineral by the United States, the European Union, and the Australian government, reflecting its strategic applications across defence, semiconductors, energy storage, and flame retardants.