Nova Minerals received final approvals for its Alaska antimony project, completing the permitting process. This clears the way for construction and development activities.
The Alaska Department of Natural Resources issued the approvals. The project aims to establish the first modern, fully integrated U.S. domestic antimony supply chain in decades. The U.S. Department of War funds Phase 1 with $43.4 million.
Nova secured a land use permit for its proposed refinery in 2025. This 42.81-acre site is near Port MacKenzie, an industrial hub in Alaska. The company also holds the 10-million-ounce Estelle gold project, where antimony deposits have historically been found.
The Port Mac facility will produce antimony trisulfide, antimony trioxide, and antimony metal. These products are used by the U.S. military and in industrial applications. Nova Minerals CEO Christopher Gerteisen said targeted production is set for 2027.
The company’s stock on the NYSE American rose 6.7% Tuesday. Nova Minerals has a market capitalization of $121.4 million.