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Highlights
- EV Resources has commenced refurbishment of the Tecomatlán plant’s grinding circuit, advancing its transition from exploration to near-term antimony production.
- The company is leveraging existing infrastructure and a staged development plan to establish a cost-efficient and accelerated pathway toward initial production and cash flow.
- The Tecomatlán facility is being developed as a centralised processing hub capable of handling both company-owned and third-party ore.
- A capital-efficient restart plan is underway, targeting commissioning by late April 2026.
- EVR shares were trading 12.50% higher at AUD 0.009 per share on 26 March 2026.
EV Resources Limited (ASX:EVR) has commenced refurbishment work at its Tecomatlán Processing Plant in Mexico, marking a decisive shift in the company’s strategy from exploration toward near-term antimony production. The company is progressing plans to leverage existing infrastructure while accelerating its pathways to first cash flow amid tightening global supply conditions for this critical mineral.
Refurbishment Work Signals Production Shift
The refurbishment program is focused on bringing the plant’s grinding circuit, which includes three installed but uncommissioned ball mills, into full operational readiness. These mills form the central component required to unlock production capacity. By bringing this system into operation, the company is advancing toward its first production phase and potential cash flow generation.
Tecomatlán Plant – Ball Mill. Image source: Company update
Mechanical upgrades include overhauling and aligning the mills, installing improved discharge systems, and ensuring operational redundancy.
Electrical works involve new motors installation and a transition to a more efficient configuration. The electrical work aims at reducing operational load, improve efficiency and infrastructure costs.
Accelerated Strategy in a Tightening Market
The company is implementing a strategy designed to capture early market share in antimony amid increasing global supply constraints. Antimony is used in sectors such as defence, energy storage, and advanced technologies, contributing to growing demand.
By utilising an existing processing facility alongside a staged development plan, the company is pursuing a cost-conscious approach (~USD 73,000 to bring the core of the plant into operation) and an expedited route to production. This strategy places the company ahead of conventional development timelines and supports early market entry in a supply-constrained environment.
Ore Supply and Staged Production Plan
Alongside plant upgrades, the company is progressing multiple ore supply pathways. These include third-party supply agreements, metallurgical testing of feed sources, and stockpiling initiatives ahead of commissioning. The aim is to ensure immediate throughput once the plant becomes operational.
The production model is structured in phases to ensure capital efficiency and accelerate time to market.
- Phase 1: The initial phase will use a gravity circuit, targeting ~90.8% recovery with requirement of minimal permits
- Phase 2: This phase includes a flotation circuit designed to improve recovery rates to up to 99.2%.
This staged approach allows for early production and revenue generation while supporting future scale-up.
Tecomatlán Plant Proposed Gravity Circuit Flowsheet. Image source: Company update
Tecomatlán Positioned as Processing Hub
The Tecomatlán facility is being developed as a centralised hub capable of processing both company-owned and third-party ore. Located near the Los Lirios project, the plant reduces reliance on a single ore source and provides flexibility to scale production as per the market demand.
Timeline and Next Steps
Key upcoming steps include commissioning the grinding circuit, finalising ore supply agreements, advancing plant-wide commissioning, continuing drilling activities at Los Lirios and advancing strategic and offtake partnerships.
EVR Shares Rally
EVR shares were trading 12.50% higher at AUD 0.009 per share at the time of writing on 26 March 2026.
EV Resources is advancing a structured plan to activate its Tecomatlán Processing Plant and move toward antimony production. Through refurbishment, supply planning, and phased development, the company is aligning its operations for near-term output and participation in a market characterised by increasing demand and constrained supply.
