Critical minerals have been seeing an enormous surge in demand due to the global energy transition. But now, companies are scrambling to find domestic sources of supply for a critical mineral used in combat: antimony.
What’s happening:
- China recently announced new restrictions on the exportation of antimony for the first time ever
- The demand for antimony from North American military and combat forces will now need to find new domestic supply sources
Who is making moves:
- Perpetua Resources (TSX: PPTA) is currently advancing a large scale antimony mining project that has received backing from the Pentagon and the Export-Import Bank of The United States
- United States Antimony (NASDAQ: UAMY) currently has the only permitted and operational antimony smelter in North America which is located in Thompson Falls, Montana
- Nova Minerals (NASDAQ: NVA) recently completed a feasibility study for their antimony property located in Alaska and are aiming to officially begin drilling in the near future
By the numbers:
- China, Russia and Tajikistan currently produce about 90% of all the antimony supply globally
Going deeper:
- Antimony has many different applications as a material input for military grade weapons and equipment, including infrared sensors, ammunition and even missiles
- China has been restricting the exportation of numerous critical metals and minerals recently, including gallium which is an important input for semiconductor manufacturing
The intrigue:
- Antimony is a very scarce metal largely because it is primarily extracted from stibnite, which is a mineral that is rarely found in large isolated deposits
