Nova Minerals Limited has clarified that discussions related to the potential sourcing of antimony from Pakistan are preliminary and exploratory, following media reports suggesting a firm arrangement.
In a statement issued to the market, the US-based mining exploration and development company, which is listed on the Australian Securities Exchange and NASDAQ, said that talks so far were limited to assessing the feasibility of sourcing antimony concentrate for testing purposes.
The company said the discussions were mainly aimed at evaluating plant capability and did not amount to any binding agreement. It added that no decision had been taken on long-term sourcing or investment in Pakistan.
Nova Minerals said its primary focus in 2026 remains on completing the feasibility study for its gold assets and commencing production of military-grade antimony trisulfide. This effort is supported by a $43.4 million award from the United States Department of Defense.
Antimony is a silvery white metal used in the production of missiles, batteries, and flame retardants, making it strategically important for defence and industrial applications.
The clarification follows a report by the Financial Times last month, which said Pakistan-based Himalayan Earth Exploration had signed a strategic partnership with Nova Minerals to explore antimony and strengthen US-Pakistan economic ties.
In November, the Board of Investment also met a delegation from Nova Minerals, during which the company expressed interest in Pakistan’s mining sector, particularly antimony and rare earth minerals.
Nova Minerals CEO Christopher Gerteisen was quoted by the Financial Times as saying that the company planned to purchase more than 100 tons of Pakistani antimony concentrate for about $2 million early next year for testing and processing in Alaska.
He also indicated that Nova Minerals may eventually consider downstream processing of antimony ore in Pakistan, depending on the outcome of initial testing and feasibility assessments.
The company, however, emphasized that all discussions regarding Pakistan are still at an early stage and that no final commercial arrangements have been concluded yet.