How Will EV Resources Unlock Value at Mexico’s Los Lirios Antimony Mine?
EV Resources Limited has finalized its acquisition of a 70% interest in the Los Lirios Antimony Mine in Oaxaca, Mexico, marking a strategic move to bolster critical mineral supply in the Americas. The company is advancing ore testing and plans to develop processing capabilities aligned with local community priorities.
- Acquisition of 70% interest in Los Lirios Antimony Mine completed
- Joint venture entity Exploraciones Mineras los Lirios established
- Mining concessions cover 1,552 hectares with historic open pit and underground workings
- Ore samples undergoing characterization with gravity recovery test work planned
- Plans to build pilot processing plant and engage local communities
Strategic Acquisition in Critical Minerals
EV Resources Limited (ASX, EVR) has taken a significant step in securing a foothold in the critical minerals sector by completing the acquisition of a 70% interest in the Los Lirios Antimony Mine, located in Oaxaca State, Mexico. This move aligns with EVR’s broader strategy to develop a portfolio of critical mineral assets that support strategic interests in the Americas, particularly in minerals like antimony, which are vital for various industrial and technological applications.
Joint Venture Structure and Mining Rights
The acquisition was formalized through the establishment of a wholly owned Mexican subsidiary, S9bcorp, S.A. de C.V., and the creation of a joint venture company, Exploraciones Mineras los Lirios, S.A. de C.V. (EML). This entity will hold 100% of the mining rights, with EVR owning 70% and the original titleholders retaining 30%. The mining concessions span approximately 1,552 hectares and include three historic open pit mines alongside several underground workings, reflecting a legacy of antimony extraction focused on direct shipping ore (DSO).
Advancing Project Development and Testing
EVR is actively progressing the project with a focus on community engagement and regional development priorities. Recently collected ore samples are undergoing detailed characterization and mineralogical analysis, with results expected imminently. The company intends to conduct recovery test work primarily using gravity recovery methods, which have demonstrated success in processing antimony ores in Mexico. Parallel discussions are underway to secure permitted plant sites for a pilot processing facility, signaling a move towards operational production.
Implications for Supply and Market Position
This acquisition not only expands EVR’s critical minerals portfolio but also positions the company to contribute to the supply of antimony, a mineral designated as critical under multiple strategic frameworks. Given the geopolitical importance of securing reliable sources of such minerals, EVR’s foothold in Mexico could enhance its market relevance and appeal to investors focused on strategic resource security.
Looking Ahead
While the acquisition marks a key milestone, the economic viability and production scale remain contingent on forthcoming assay results and pilot plant development. EVR’s commitment to local engagement and sustainable development will also be critical in navigating operational challenges and regulatory landscapes in Mexico.
Bottom Line?
EV Resources’ Los Lirios acquisition sets the stage for critical mineral supply growth, but key test results will shape its near-term trajectory.
Questions in the middle?
- What will the ore characterization and recovery test results reveal about the mine’s commercial potential?
- How quickly can EVR establish pilot processing operations and scale production?
- What are the local community and regulatory responses to EVR’s development plans?
