Global antimony supplies face increasing pressure as the US and Europe seek to replenish munitions stockpiles depleted by Ukraine’s war effort.
With prices almost quadrupling in the past year, China’s export restrictions have created a severe supply crunch in this critical metal used in bullet cores and explosives.
Larvotto Resources is preparing to open a rare Western-owned antimony mine in Australia next year, but the current global production of 80,000 tons falls far short of the 120,000 tons needed annually.
Though military applications represent a small portion of demand, growing defense spending in Europe could further strain the market.