global antimony production was in 2025 recorded An average of 110,000 metric tons, of which China’s contribution is 40,000 metric tons or about 36.37 percent. Over the years, such figures have been considered routine, reflecting China’s strong dominance in the region. But with China’s ban on resource exports to the US set to expire in November 2026, America’s import-dependent antimony supply faces an imminent crisis. However, this also creates opportunities for investment in domestic projects designed to fill the gap.
Interest in antimony increased in 2025 following discussions on geopolitical and supply chain strategies, underscoring the role of the silver-grey metalloid in the energy transition and defence.
Why does antimony matter?
Once ignored, antimony is now classified as an important mineral in many countries, including the US.
US Geological Survey highlights antimony’s role in lead-acid batteries and flame retardants List of Important Minerals. As fastmarket notesSuch applications continue to dictate antimony consumption, underscoring the mineral’s enduring importance beyond emerging technologies.
In the defense sector, military applications of antimony include strengthening bullets and armour-piercing rounds. This is done scientifically by mixing it with lead as a hardening agent, which reduces distortion compared to pure lead. Studies suggest In the US, hardening agents typically contain 1 to 3 percent antimony by weight.
Antimony is also found in explosives, night vision goggles, nuclear weapons, and flame-retardant military uniforms. Its compounds allow photons (light particles) to be converted into electrons, making it usable for infrared sensors and other optical technologies such as laser vision.
“The rapid expansion of the photovoltaic industry has emerged as a key long-term demand driver,” FastMarkets said. It said flame retardants account for about half of global end use and demand for plastics, textiles and construction materials is expected to remain stable, supported by fire safety regulations.
China’s current dominance and export control
China, along with Russia and Tajikistan, controls about 90 percent of global antimony production. In 2025, Russia and Tajikistan lead China with 32,000 MT and 22,000 MT respectively. The US imports more than 80 percent of its antimony, making it highly vulnerable to geopolitical shocks such as China’s export restrictions.
Antimony prices have already doubled since the sanctions were announced in 2024, reaching historic highs US$59,750 per metric ton In July 2025, then dropped months later, around September.
commodity price group SunSeers said in a report The supply/demand gap for antimony also widened to 34,000 to 39,000 metric tonnes in 2025, the highest in five years. Domestic antimony prices were also significantly higher than international prices, with the price difference being more than 80 percent. One Article by Center for Strategic and International Studies (CSIS) says that gallium exports were well below pre-restriction levels a year after export controls were implemented, suggesting that the U.S. defense industry “may need to rely on diversified sourcing of antimony from many small producers to meet demand over the next several months.”
Antulio Borneo, vice president of North America PET/Polyester Chain, told Independent Commodity Intelligence Services in a podcast The current situation on antimony is also driving the price of US PET resins, which can be broadly classified into bottle, fiber or film grades, designated according to downstream applications.
“There are some talks going on (in terms of antimony)… but it is still a matter of supply and demand.”
America’s move
All things considered, the US is taking steps to increase domestic extraction, processing and refining of antimony. The War Department made an announcement US$27 million investment United States Antimony (NYSEAMERICAN:UAMY) was awarded Defense Production Act Title III funds through the end of February 2026.
The company said it aims to support more mining and modernize and expand its Montana refinery with the budget. It also wants to make more antimony products that no one else can make in the US.
The Defense Logistics Agency of the US government has also announced earlier plan to save Many important metals including antimony. A five-year contract worth up to US$245 million was secured from the US Defense Logistics Agency for the supply of antimony metal ingots for the defense stockpile.
Fastmarket reported The contract aims to supply 6,685,871 pounds, or approximately 3,026 metric tons, of antimony metal ingots to the national defense stockpile over five years. Reuters highlights This aligns with domestic efforts to strengthen supply chains for strategic materials amid rising geopolitical tensions and increasing dependence on foreign sources, especially China.
market Outlook
The global antimony market size was estimated to be US$2.5 billion in 2025 and is estimated to be US$2.6 billion in 2026. It is expected to grow to US$4.7 billion by 2035. Research Nestor said.
Sunseers said in its report that in the long term, the global antimony resource grade is declining, and the growth in production capacity is weak. “Antimony’s scarcity and strategic importance will drive prices to long-term upside, especially as demand for high-purity antimony increases,” the outlook reads.
However, this growth in demand underlines the investment potential in stable, non-Chinese supply chains. As demand increases, projects in safe jurisdictions will receive premium valuations.
Beyond primary production, CSIS also recommends that the US continue investing in domestic capabilities, particularly by advancing recycling technologies to promote antimony recovery within the country.
Companies are moving the needle
Many junior antimony-bearing deposits are being explored. Nevada-based NavGold (TSXV:NAU,OTCQX:NAUFF,FWB:5E50) owns the Limousin Butte gold-antimony project strategically located in Nevada. With high-grade oxide antimony mineralization at surface along with gold, this represents the type of near-term antimony production opportunity that could attract the interest of investors and the US government as demand for antimony increases.
the company said It is expected to advance a mineral resource estimate by the second quarter of 2026, which will define the grade and quantity of antimony contained on the pad.
“This is one of the only near-term, surface antimony production scenarios in the US with a path to potential antimony metal production by 2027,” Navgold CEO Brandon Bonifacio revealed.
emerged as nevada Top Mining Jurisdictions world in 2025, providing Nevgold with positive permission and regulatory certainty, asset and infrastructure security, and access to funding. In a supply-constrained market like antimony, the reliability of supply and where it comes from is as important as the quantity.
The only other advanced antimony project in the US is the Stibnite project in Idaho owned by Perpetua Resources (TSX:PPTA,NASDAQ:PPTA), which is eyeing production from 2029 to 2030.
Other producing antimony mines globally are hillgrove Antimony-gold project in New South Wales by Larvoto Resources (ASX:LRV,OTCPL:LRVTF) and casterfield Mine in Victoria by Alcan Resources (ASX:ALK,TSX:ALK,OTCQX:ALKEF).
At the time of writing, Perpetua, Larvotto and Alkane have market capitalizations of US$3.81 billion, US$444.88 million and US$1.56 billion respectively.
Investor Takeaway
Antimony is an important mineral amid national security and resource scarcity. Domestic initiatives such as Nevgold’s Limousin Butte project are examples of the type of assets that could benefit from increased demand and government support. Investors who make early investments in domestic projects in stable jurisdictions stand to benefit from a mineral that is becoming indispensable for defense and technology.
The urgency will increase as the November 2026 deadline approaches. The question is not whether antimony will matter, but which companies will be willing to supply it and how much they can contribute to the difference.
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