US Company Clarifies Talks on Antimony Mining in Pakistan Amid Market Speculation

US-based mining exploration and development firm Nova Minerals Limited has clarified that its discussions regarding the potential sourcing of antimony from Pakistan remain preliminary and exploratory, following media reports that fueled market speculation about a firm agreement.

In a statement issued to the market, the company emphasized that current talks are limited to early-stage feasibility assessments and do not constitute any binding arrangement. Nova Minerals stated that the discussions are focused solely on evaluating the possibility of sourcing antimony concentrate for testing purposes.

The company, which is listed on both the Australian Securities Exchange (ASX) and NASDAQ, explained that the engagement was primarily aimed at assessing processing plant capability rather than securing long-term supply contracts or committing to investment plans in Pakistan.

Nova Minerals further clarified that no decision has been made regarding sustained sourcing, commercial extraction, or capital deployment in Pakistan’s mining sector. The company stressed that any future development would be subject to detailed technical evaluations, regulatory approvals, and commercial viability assessments.

The clarification follows reports that suggested Nova Minerals was close to finalizing an agreement related to antimony mining in Pakistan—claims the company said were inaccurate and premature.

Antimony is a strategically important mineral used in batteries, flame retardants, semiconductors, and defense-related applications. Pakistan has drawn growing interest in recent years due to its untapped mineral resources, although large-scale foreign investment remains limited and subject to regulatory and infrastructure considerations.

Nova Minerals reiterated its commitment to transparent market disclosures and said it would inform investors if discussions advance into formal agreements.