Nova Minerals Limited, a US-based mining exploration and development company listed on the ASX and NASDAQ, has clarified that discussions related to the potential sourcing of antimony - a silvery-white metal that is found in the earth’s crust - from Pakistan remain preliminary and exploratory.
The clarification comes following media reports on the company’s arrangements to acquire Pakistani antimony, the ASX-listed miner said on Monday.
“The company wishes to clarify that, while preliminary discussions have been held in relation to sourcing antimony concentrate for testing purposes, principally to assess plant capability, all discussions remain exploratory in nature,” Nova Minerals informed the bourse.
“Nova’s focus in 2026 continues to be completing the Feasibility Study for its gold assets and commencing production of military-grade antimony trisulfide, supported by the recent $43.4 million award from the U.S. Department of Defense,” it added.
FACTBOX:
Antimony is designated as a critical mineral by both the United States and Canada due to its essential role in national security, energy infrastructure, and industrial manufacturing. The metal is considered strategic because it has limited sources of domestic production, and North America is highly dependent on imports — primarily from China
Source: New Age Metals
Last month, the Financial Times reported that Pakistan-based Himalayan Earth Exploration company signed a “strategic partnership” with Nova Minerals to “strengthen US-Pakistan economic ties” through exploring for antimony, read the report.
Back in November, the Board of Investment (BOI) met a delegation from Nova Minerals Ltd. During the discussion, the Nova Minerals delegation expressed strong interest in exploring investment opportunities in Pakistan’s mineral and mining sectors, particularly in antimony and rare earth minerals.
Christopher Gerteisen, Nova’s chief executive, told FT that his company will buy “over 100 tonnes” of Pakistani antimony concentrate for about $2 million early next year for testing and processing in Alaska.
It may eventually set up “downstream processing” of the ore in Pakistan, he said.
“The Department of War encouraged us to go out in the world and find whatever we can,” he added.
Comments