Mandalay Resources pulls 161 tonnes of antimony from Australian mine in Q1

The Costerfield gold-antimony mine in Victoria, Australia. Image credit: Mandalay Resources

Mining

Mandalay Resources pulls 161 tonnes of antimony from Australian mine as price soars

Antimony demand has been surging, particularly in the U.S. after China recently stopped exporting the commodity

Rowan Dunne

Published

April 11, 2025

Canadian miner Mandalay Resources Corp (TSE: MND) (OTCMKTS: MNDJF) produced 161 tonnes of antimony and sold even more of the commodity during this year’s first quarter. It gets produced at the company’s Costerfield Mine in Victoria, Australia.

This metalloid element is in high demand at the moment, particularly in the United States after China cut off its exports to the country at the end of last year. The Chinese previously catered to approximately 65 per cent of American demand. They also cut off their supply of the critical minerals gallium and germanium.

This move resulted from the ongoing trade war been the two nations and as a response to U.S. restrictions on Chinese semiconductor technology in particular. China has been tightening its grip on rare earth elements too.

As there are only a handful of public mining companies that produce antimony, investors and government agencies have been becoming increasingly interested in stocks like Mandalay. In Idaho for instance, the U.S. Department of Defense has given Perpetua Resources Corp. (TSE: PPTA) (NASDAQ: PPTA) about US$75 million to advance development of its Stibnite gold-antimony mine in Idaho.

It could potentially cater to over one third of the nation’s needs once production begins in the next couple of years.

Europe also hasn’t had any Chinese shipments of antimony for five months, though the reasoning behind this is more linked to Chinese national security and domestic need for military technologies that the element is essential for producing. China’s global shipments of antimony products have declined by 97 per cent since September.

Price of antimony has been skyrocketing

These geopolitical tensions have sent the element to an all-time high price-wise at approximately US$57,000 per metric ton.

Antimony is utilized to produce a broad range of military equipment and weapons.

While established producers of this lesser-known commodity and those with advanced-stage development projects like Perpetua have been attracting attention, smaller exploration companies with properties containing antimony mineralization have also been getting noticed.

NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) is one of these explorers. The junior miner has been pulling a steady stream of core samples with significant antimony (Sb) mineralization.

This week, NevGold reported a core assay containing 0.18 per cent Sb over a substantial length of 169.2 metres. This included a 3.1 metre interval with 2.76 per cent Sb. Last month, a hole with over 1 per cent Sb throughout 6.7 metres was drilled. These results come from the company’s Limousine Butte project in the renowned mining state of Nevada.