Investing

Investing in Antimony

The investment landscape for Antimony offers 3 primary vehicles for exposure, ranging from equities of mining and processing companies to ETFs and commodity instruments. With prices currently around 38,000-50,000 $/tonne, the Antimony market reflects both structural demand growth and ongoing supply chain challenges.

Investment Vehicles

Key investment vehicles providing exposure to Antimony:

Key Companies

The Antimony value chain includes these publicly listed and major private companies:

Market Drivers

Antimony investment performance is driven by demand growth in flame retardants and lead-acid batteries, supply concentration in China (48% share), new project development timelines, and government policies including export restrictions and strategic stockpiling programs.

Risk Factors

Investing in Antimony carries risks including commodity price volatility (see price history below), geopolitical risk in producing regions, regulatory uncertainty, and potential substitution. The high supply risk can create both opportunities from supply-driven price spikes and risks from sudden policy interventions.

Recent Price History

Antimony experienced one of the most dramatic price surges in the critical minerals sector during 2024-2025. China - which accounts for nearly 50% of global antimony production - imposed export controls on antimony products in September 2024, following its earlier restrictions on gallium and germanium. Prices rocketed from around $12,000/tonne to over $60,000/tonne by early 2026, a fivefold increase. Antimony is irreplaceable in military applications including ammunition primers, night-vision goggles, and flame retardants for military equipment. The price spike prompted the U.S. Department of Defense to accelerate domestic antimony supply development, with Perpetua Resources' Stibnite project in Idaho receiving expedited permitting as a national security priority.