Nova Minerals (NYSE-A: NVA; ASX: NVA) has received final Alaska approvals for its antimony project, clearing the way for construction as it targets initial production in 2027.
The Alaska Department of Natural Resources approved its plan of operations and reclamation plan, completing permitting for the first stage of development, the U.S. domiciled company said Tuesday.
The approvals cover an initial three-year term and were secured within about three months of submission.
“With these key milestones achieved, our focus is now on execution,” CEO Christopher Gerteisen said in the release.
The program involves bulk sampling at the Styx and Stibium prospects, sorting and processing at the Whiskey Bravo site within Nova’s Estelle project, and refining at a pilot plant at Port MacKenzie. Alaska’s public notice describes the program as testing the feasibility of producing antimony concentrate and refined antimony trisulfide.
Funding
The first stage is fully funded through an existing $43.4-million Department of Defence award announced last year, the company said. The funding supports a pilot-scale plant capable of producing military-grade antimony trisulfide. Nova’s longer-term strategy envisions a commercial operation, which would require additional funding.
Major mining and processing equipment has been delivered to project locations, Nova said. Engineering and metallurgical work has established a flowsheet designed to produce military-grade antimony trisulfide and antimony metal exceeding 99.7% purity, it said.
The company secured a land-use permit in 2025 covering 17.3 hectares of industrial land near Port MacKenzie in Alaska’s Matanuska-Susitna Borough for its proposed refinery.
The antimony development forms part of Nova’s broader Estelle gold and critical minerals project. Its annual report says no antimony mineral resource estimate has yet been established at Estelle.
Nova shares closed Tuesday up 6.7% at $3.18 in New York, giving the company a market capitalization of about $121.5 million.
Source: www.northernminer.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
