The global antimony market is undergoing significant changes due to geopolitical tensions and supply chain disruptions, prompting U.S. companies to accelerate efforts to secure domestic sources of this critical mineral. Antimony, vital for semiconductors, military applications, and energy storage, has seen its price surge by 250% in 2024, with current trading prices between $39,500 and $40,000 per metric ton. This situation has led the U.S. Department of Defense to invest over $439 million in building critical mineral supply chains, underscoring antimony's strategic importance.
Perpetua Resources is at the forefront of these efforts with its Stibnite Gold Project in Idaho, which is projected to produce 148 million pounds of antimony in its first six years, potentially meeting 35% of the U.S. annual demand. The project is notable not only for its production capacity but also for its commitment to environmental restoration. Meanwhile, Military Metals Corp. is expanding its exploration assets across Nevada, Slovakia, and Nova Scotia, with its Last Chance Antimony-Gold Property in Nevada offering significant potential for domestic antimony supply.
United States Antimony Corporation is enhancing domestic capabilities by operating the sole primary antimony smelter in the U.S. and sourcing materials internationally from Thailand and Australia. The company has also partnered with Perpetua Resources through a Metallurgical Testing Agreement to assess the processing of stibnite-rich antimony ore. Nova Minerals Limited is contributing to these efforts with its Estelle Gold and Critical Minerals Project in Alaska, which includes the Stibium prospect, known for its high-grade gold and antimony deposits. The company's participation in the Defense Industrial Base Consortium highlights the strategic significance of these initiatives.
These collective actions represent a strategic move to reduce the U.S.'s reliance on foreign mineral sources, particularly China, amidst the antimony market's volatility. The current supply constraints and price surges emphasize the urgency of developing domestic production capabilities, not only for economic benefits but also for national security and technological resilience. As global trade dynamics continue to shift, securing critical mineral supplies like antimony remains a top priority for the United States.
