Governments are accelerating efforts to secure supply chains for critical minerals. In the United States, the Fixing America’s Surface Transportation Act, Section 41 (FAST-41) permitting program streamlines approvals for projects deemed strategically important.
Antimony qualifies. It is essential for military alloys, semiconductors, and energy storage. However, China holds a near monopoly on global supply, producing more than 80 per cent of mined antimony.
Accordingly, the United States and allied nations are taking steps to lessen this dependence. Gold projects with meaningful antimony resources offer both precious metals stability and critical mineral relevance. They also provide optionality in volatile markets and shifting geopolitical environments.
Several countries are taking active steps to expedite critical mineral production, similar to the U.S. FAST 41 program.
Canada, through its Critical Minerals Strategy, fast tracks environmental assessments for antimony and other strategic metals. Australia’s Critical Minerals Facilitation Office streamlines approvals for projects contributing to both industrial and defense supply chains. The European Union and the United Kingdom prioritize permitting for mines linked to renewable energy and national security.
Additionally, Japan and South Korea use strategic agreements and regulatory fast tracking to reduce reliance on Chinese critical minerals.
The following five companies operate in mining friendly jurisdictions and could deliver both gold and antimony. Their positions in this dual commodity space make them noteworthy as global supply chains evolve.
Perpetua Resources
Perpetua Resources (NASDAQ: PPTA) (TSE: PPTA) advances the Stibnite Gold Project in Idaho. It is one of the largest undeveloped gold-antimony deposits in the United States. The project contains 4.8 million ounces of gold and significant antimony reserves. The U.S. Department of Defense awarded funding to study domestic antimony production, reinforcing its strategic importance.
In addition, Stibnite participates in the FAST-41 program. This federal initiative accelerates permitting for infrastructure and resource projects deemed nationally significant. It could shorten the timeline from final approvals to construction.
Furthermore, the project could meet up to 35 per cent of annual U.S. antimony demand. It also outlines a 15 year mine life in its feasibility study. High grades and strong returns position Stibnite as a potential flagship for U.S. critical mineral independence.
Perpetua’s plan includes extensive environmental restoration. It intends to rehabilitate legacy mining impacts, restore fish habitats, and improve water quality. This commitment strengthens its social licence to operate in a state with rigorous environmental standards.
Additionally, antimony from Stibnite would have immediate defense applications. The metal is critical for ammunition primers, military alloys, and flame retardant materials used in defense equipment. Accordingly, Perpetua’s production could directly support U.S. defense manufacturing.
The company continues to advance exploration across its Stibnite property, targeting additional high grade gold and antimony zones. Perpetua is also optimizing processing techniques to maximize recoveries, improve efficiency, and reduce environmental impact.
Once permitting concludes, Perpetua could become the primary domestic source of antimony. Combined with large scale gold output, the company offers investors exposure to a safe haven metal and a strategic mineral vital to national security.
Alkane Resources
Australia-based Alkane Resources (ASX: ALK) (TSE: ALK) picked up the high grade Costerfield Mine in Victoria, Australia when it merged with Canadian miner Mandalay Resources earlier this year. It is one of the few Western producers delivering meaningful antimony output today.
In addition, antimony byproduct sales lower Alkane’s gold production costs. These credits enhance margins, even when gold prices soften. The Costerfield operation has consistently produced high grades through precise mining methods and improved grade control.
Furthermore, the merger brought access to the Björkdal gold mine in Sweden. While it produces no antimony, it diversifies revenue streams and supports operational stability. Exploration at Costerfield continues to identify high grade extensions, potentially extending mine life.
The company’s operational strategy focuses on efficiency, safety, and community engagement. This commitment reduces risk and strengthens its reputation in both jurisdictions. Mandalay’s management also maintains strong financial discipline, allowing for reinvestment in exploration and technology.
Additionally, antimony from Costerfield has potential strategic uses. It is an essential component in semiconductors, lead-acid battery grids, and flame retardants. These applications extend into both civilian and defense sectors, increasing its importance in global markets.
Accordingly, the combination of gold profitability and critical mineral production positions Mandalay as a rare dual commodity producer. In a tightening supply environment, it could see increased demand from industries and governments seeking secure antimony supply.
China recently delayed and rerouted one of Alkane’s antimony shipments. The move disrupted delivery schedules and showed how geopolitical tensions can directly affect access to key industrial inputs.
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United States Antimony Corporation
United States Antimony Corporation (NYSEAMERICAN: UAMY) operates as the only domestic antimony producer in North America. The company manages a vertically integrated operation, including North America’s only two antimony smelters. These facilities supply antimony for batteries, semiconductors, flame retardants, and other industrial applications. By controlling both mining and processing, USAC maintains flexibility and secures a critical mineral supply chain.
In addition, USAC has resumed mining at claims near its Thompson Falls, Montana, facility. These historic deposits have been a source of antimony since the 1970s. The company plans to expand production in areas with existing permits, aiming to strengthen domestic output and reduce reliance on foreign sources.
Furthermore, USAC restarted operations at its Madero smelter in Coahuila, Mexico, after a 14 month hiatus. The facility processes imported antimony ore, diversifying the company’s supply chain and ensuring steady availability for U.S. markets. This step also positions USAC to respond quickly to surges in demand from industrial and defense sectors.
Financial performance has improved significantly. In the second quarter of 2025, USAC reported a 160 per cent increase in revenue and a 707 per cent rise in net income compared with the previous year. These gains reflect higher production volumes, strong antimony prices, and operational efficiencies.
Additionally, the company’s expansion aligns with U.S. government initiatives to secure critical mineral supply chains. Accordingly, United States Antimony stands as a strategic domestic source of antimony, offering investors exposure to both a rare industrial metal and broader geopolitical trends influencing the market.
Antimony in its purest form. Image via US Antimony.
Southern Cross Gold
Southern Cross Gold (ASX: SX2) (TSE: SXGC) (OTCMKTS: SXGCF) is advancing its flagship Sunday Creek Gold Antimony Project in Victoria, Australia, about 60 km north of Melbourne. The project is a shallow orogenic deposit with high grade gold and antimony mineralization. Antimony represents a significant portion of the in-situ value, emphasizing its strategic importance as a critical metal.
In early 2025, the company developed a selective flotation technology that separates antimony minerals from arsenic bearing minerals while maintaining high gold recoveries, ranging from 93 per cent to 98 per cent. This metallurgical breakthrough enhances the efficiency of processing and strengthens the project’s overall economics.
Furthermore, Southern Cross Gold expanded its exploration target at Sunday Creek, doubling the estimated range of potential mineralization to between 8.1 and 9.6 million tonnes. Grades range from 8.3 g/t to 10.6 g/t gold equivalent, underscoring the project’s high grade potential and growing scale. This expansion positions the company to meet increasing demand for both gold and critical minerals like antimony.
Additionally, the company continues to advance drilling and development programs aimed at delineating additional high grade zones. Its strategic location in a mining friendly jurisdiction supports efficient permitting and operations. The combination of high grade gold, critical antimony resources, and advanced metallurgical processing makes Sunday Creek a notable asset in the global market.
Overall, Southern Cross Gold’s focus on both gold and antimony positions it as a key player in supplying critical minerals. Its advancements in exploration and metallurgy, alongside its tier one jurisdiction, provide the foundation for long term growth and meaningful contributions to domestic and international industrial demand.
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NevGold Corp
NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) explores and develops gold projects in Nevada and Idaho. Its flagship Limousine Butte and Nutmeg Mountain projects are in mining-friendly regions. Idaho’s mineral history includes significant antimony output, suggesting possible byproduct potential.
In addition, historic records from NevGold’s ground note stibnite occurrences. Modern exploration could confirm and expand these zones. The company applies systematic drilling and geophysical surveys to target high-value mineralization.
Furthermore, NevGold operates with a disciplined capital structure. This allows for simultaneous advancement of multiple targets without overextending finances. Any antimony discovery would enhance project economics rather than define viability.
NevGold’s technical team focuses on efficient exploration and rapid target advancement. Accordingly, it can adapt to market shifts by prioritising gold or polymetallic targets as conditions change.
NevGold Corp. has reported significant gold antimony drill results at its Limousine Butte Project in Nevada.
Key Highlights from its near-surface, oxide gold-antimony drillholes at Resurrection Ridge include:
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- LB018: 1.47 g/t AuEq over 74.7 meters (0.23 per cent Sb and 0.45 g/t Au), including 3.59 g/t AuEq over 18.2 meters (0.60 per cent Sb and 0.92 g/t Au), and also including 4.61 g/t AuEq over 6.0 meters (0.96 per cent Sb and 0.31 g/t Au)
- LB030: 2.03 g/t AuEq over 12.2 meters (0.32per cent Sb and 0.58 g/t Au)
If NevGold confirms antimony in economic grades, it could gain strategic interest from industry or government.
Therefore, NevGold offers investors traditional gold exposure with the optional upside of a critical mineral. This combination positions it to benefit from both commodity cycles and geopolitical priorities.
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