Antimony - GDM have found Antimony. How much? We will find out soon enough, but what's all the hype about? Antimony... The mineral the U.S. Gov have listed as critical to their economy is used in Military, Solar Panels, Batteries, Semi-Conductors, and more, is in high demand with China recently restricting supply.
Below are some uses and supply economics that have the possibility to drive up the antimony market over the next few years. Please do your own research. This is not advice.
What is antimony?
Sb - Remember the periodic table of elements Sb is Antimony, atomic number 51.
Antimony is mostly found in China. It's reported that China, Russia and Tajikistan produce over 80% of the world's supply. It is
a metalloid - a chemical element that has some metal and some nonmetal properties it is often found near gold. It has many uses. This post will help introduce you/update you on antimony, the use, the demand and the supply.
Antimony is considered a critical mineral by many countries because its supply could be disrupted.
U.S. International Trade Commission, executive briefing Oct '21 stated "Antimony has been listed as a mineral critical to U.S. economic and national security by the U.S. Department of Interior"
China has recently (Sept) announced it has restricted the export of antimony due to "national security".
"China’s recent export restriction on antimony, effective from September 2024, highlights how the US-China chip war has expanded beyond technology-focused restrictions to include competition over critical resources. China dominates the critical minerals market essential for chip production, both in terms of market share and processing technology, and is increasingly leveraging this advantage to punish countries that impede its technological and economic progress." - Hu Xinyue - Senior Analyst in the China Programme at the Institute of Defence and Strategic Studies (IDSS), S. Rajaratnam School of International Studies (RSIS) - "IP24094 | Emerging Battleground: China’s Critical Minerals Leverage in the Chip War"
Antimony is a key component in Photovoltaic Solar Panels worldwide.
"A forecast earlier this year by China Merchants Securities suggested antimony demand from the photovoltaic sector will increase from roughly 16,000 tonnes in 2021 to 68,000 tonnes in 2026, with the industry’s share of total consumption rising from 11% to 39%." - Mining .com .au
"... antimony is used across numerous industrial sectors, resulting in diffuse consumption compared to some other critical materials. As of 2020, the leading uses of antimony in the United States were in flame retardants, lead-acid batteries, as a key alloying material for strength (e.g., shielding materials), and antifriction alloys. Additionally, antimony is used in a variety of military applications, including night vision goggles, explosive formulations, flares, nuclear weapons production, and infrared sensors.
Expanded uses for antimony contribute to its inclusion as a critical material, particularly with respect to battery technology. Antimony has become increasingly prevalent in electrical and energy related technologies. Over the past decade, antimony appeared in over a thousand U.S. electrical applications patents. Liquid metal batteries (LMBs), an emerging battery technology, incorporates antimony in the cathodic material." - U.S. International Trade Commission, executive briefing Oct '21
"...antimony is added to lead alloys to increase hardness. ... These alloys also produce bullets that rival copper-jacketed bullets are so hard that they can go through armor.
Antimony is also used to make some semiconductor devices... It is an ideal material because it is only a couple of atomic layers thick. Researchers are looking into the possibility of antimony replacing silicon in the production of small computer chips. While silicon is a good semiconductor, it is unable to carry sufficient transistors. On the other hand, antimony, while being similar in size to silicon, has a much faster charging mobility. " - Chemistry Talk
Other countries:
"India: A top importer of antimony oxides
Italy: A top importer of antimony oxides
Germany: A top importer of antimony oxides
European Union: A top importer of antimony oxides and a country that considers antimony a critical mineral
Australia: A country that considers antimony a critical mineral and has the rights to the Hillgrove Gold-Antimony Project
Russia: A major producer of antimony that has more than tripled its production since 2015
Tajikistan: A major producer of antimony that has more than tripled its production since 2015
Bolivia: A major producer of antimony
Mexico: A major producer of antimony" - google
With America's main suppliers being China and Russia the US Dept of Defence are concerned about their supply chain. "Antimony is high on DOD mineral concerns"
"A heavy dependence on Russia and China for a metalloid that is both critical to the American economy and strategic to its military is not something that many U.S. lawmakers and military officials are comfortable with.
In a 2022 report, the U.S. House Armed Services Committee said it 'is concerned about recent geopolitical dynamics with Russia and China and how that could accelerate supply chain disruptions, particularly with antimony.'
These worries over potential antimony supply disruptions have been validated by China's new state-controlled restrictions on antimony exports that went into effect on Sept. 15." - Mining News North
Antimony is also used in paints, enamels, glass (precision lenses), pottery, clutches etc.
"In the short term, the export restriction is expected to significantly impact the United States and its allies as finding alternative sources outside China is challenging.
Domestically, the United States has no active antimony mining and a limited stockpile of 1,100 tons — far short of the 23,000 tons consumed in 2023. Internationally, much of the antimony mined in other countries is sent to China for refining. For example, Australia, together with Bolivia and Kyrgyzstan, holds 35.5 per cent of global antimony reserves, yet 86 per cent of Australia’s antimony exports were directed to China for processing." - Hu Xinyue - Senior Analyst in the China Programme at the Institute of Defence and Strategic Studies (IDSS), S. Rajaratnam School of International Studies (RSIS) - "IP24094 | Emerging Battleground: China’s Critical Minerals Leverage in the Chip War"
"As of 2023, China had the largest reserves of antimony worldwide, with total antimony reserves of approximately 640,000 metric tons. Russia had the next largest antimony reserves, amounting to approximately 350,000 metric tons that year." - Statista
"The global demand for Antimony is estimated at US$2.5 billion in 2024 and is projected to reach US$3.5 billion by 2030 at a CAGR of 6.2% between the two years." - Globe News Wire
"Antimony prices gear up for new records on China export curbs" - Reuters Aug 2024
"The price of antimony rose to $17,588 usd/metric tonne in May 2024, up 54% in 2024 and $22,700 usd/metric tonne in June 2024 in Europe, up 75% on 2023, and above $25,000 in Oct '24"
Antimony is currently trading at record high prices.
As you know, since 2022 the geopolitical situation mentioned above has dramatically changed. The U.S and other major economies reliance, ongoing conflicts around the world (increased demand for military products), year on year demand growth for solar panels, growing demand for batteries, and the new insatiable AI demand for semiconductors and supercomputing have the possibly to create upward pressure on the price determination in the market. Add in to the mix China's very recent export controls restricting supply and we have an interesting economic play, a play that GDM with their extremely high grade 23.9% antimony could be well positioned to enjoy.
Officially a critical mineral in many countries. Existing demand. Increasing demand. Reduced supply.
As always, do your own research. This is not financial advice.
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