Antimony: Finding its Place in the World's Critical Minerals Footprint

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Written by Danny Levin, Deputy Editor for IIR News (Sugar Land, Texas)

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Summary

While not as well-known as some other critical minerals such as lithium or nickel, antimony is crucial in industrial and military applications, including flame retardants, solar glass, ammunition and lead-acid batteries. China dominates the global antimony supply chain, so the U.S. and others are working to bolster their own supply.

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China's Grip on Antimony

Viewed by the U.S., European Union, Australia and others as a critical mineral, antimony is crucial in military and industrial applications and demand is strong. China controls the global antimony supply chain, however, leaving Western countries aiming to bolster their own mining and processing capacities.

Aside from its main use in flame retardants, another key long-term driver is antimony's role in solar glass manufacturing. According to Fastmarkets, a global commodity price-reporting agency (PRA), sodium antimonate serves as a glass clarifier in photovoltaic glass, helping to reduce melting temperatures and improve light transmission. "There is currently no mature, cost-effective substitute."

Fastmarkets notes new demand is coming from medical compounds and data centers; lead-acid batteries remain a significant source of demand; and antimony's role in defense applications has gained importance amid geopolitical tensions.

In 2024, China began restricting its exports of the mineral, which led to a rise in global antimony prices. While the country has not outright banned exports, antimony remains on Beijing's dual-use export control list, largely in an effort to protect its supply from being used by foreign militaries--especially the U.S.

"Antimony has been in a persistent deficit for years, driven by declining ore grades, stagnating Chinese mine investment and strong demand growth from the solar sector," BMO Capital Markets analysts Helen Amos and George Heppel said in a recent report on antimony.



"The introduction of Chinese export controls in 2024 served as a catalyst for a dramatic price rally, with Western prices rising from about $13,500 per tonne in April 2024 to nearly $60,000 per tonne by mid-2025," they said. "The spike created major shortages in Western markets, even forcing some consumers to declare force majeure due to a lack of supply."

"Even though the recent surge in artisanal mining in Myanmar has helped ease shortages and pushed prices down from their peak, antimony remains a market of key strategic importance."

Another example of China's grip on the antimony market, Chinese state-owned mining group China Minmetals currently owns Canada's only antimony mine and is keeping it idle, according to news reporting. Beaver Brook first began producing antimony concentrate in 2012 but suspended operations the following year amid weak market conditions. The mine briefly restarted in 2019 before shutting down again in 2023.

The project has the potential to produce roughly 6,000 tonnes of antimony concentrate annually, which analysts say could account for about 5% of global supply.

Antimony is extracted from ore, primarily through underground mining, and then processed via smelting before production. It also is recovered as a byproduct of mining other minerals, including gold.

"The metal is extremely difficult to substitute in many military applications, while mining and refining capacity remains heavily concentrated in China, Russia, and Tajikistan. For that reason, we continue to characterize antimony as a 'most critical' metal for Western supply security," BMO Capital Markets' Amos and Heppel added.

U.S., Others Looking to Stand On Their Own Two Feet

U.S. President Donald Trump's administration is doing what it can to boost the domestic antimony supply chain by supporting two major developments.

Perpetua Resources' Stibnite Above-Ground Gold-Antimony Mine and Mill Restoration/Redevelopment in Idaho features a combined award of $80 million in funding from the U.S. Department of Defense. It also is included in the government's FAST-41 program, which was created to help support coordination among various permitting agencies in order to speed a project's path toward construction. Site preparation is underway and a final investment decision is expected in the spring.

According to Perpetua, the site hosts the U.S.' only reserve of antimony capable of meeting U.S. defense requirements for munitions. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can access a detailed project report.

Earlier this month, the Department of Defense disbursed $27 million in funding under the Defense Production Act to United States Antimony Corporation (USAC)--the only domestic processor of antimony and producer of finished antimony products in the U.S.

"USAC will modernize and expand the company's capacity in Montana to refine and produce antimony necessary for flame retardants, batteries, munitions, and other defense applications," the department said in a press release. An expansion of USAC's antimony oxide smelter in Thompson Falls, Montana, is roughly 60% complete and is expected to wrap up by the end of the year, doubling refining capacity to 320 tons per month. Subscribers can read the project report.

For more information on the White House's efforts to reduce its overreliance on China's critical minerals, see February 10, 2026, article - Trump Announces $12 Billion Plan to Stockpile Critical Minerals.

The European Union sources much of its critical minerals from a handful of non-EU countries, including China, Turkey and Chile--with Turkey supplying 61% of its antimony. For more information, see February 16, 2026, article - EU's Critical Minerals Goal 'Out of Reach'.

Elsewhere, the Australian government included antimony as one of the first minerals for its planned Critical Minerals Strategic Reserve (CMSR), in an effort to reduce its overreliance on China. For more information, see January 16, 2026, article - Australia to Stockpile Critical Minerals.

Subscribers can access a full list of active and proposed antimony-related projects across the world.

Key Takeaways

• Antimony is viewed by China, the U.S., EU and others as a critical mineral, with applications such as flame retardants, solar glass and defense.
• China dominates the global antimony supply chain, leaving Western countries needing their own supply.
• The U.S. is mainly interested in antimony for its use in military applications.
• The federal government is supporting two major antimony projects.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).