The world’s largest producer of Antimony, China, enjoying a 56 per cent market share, has announced export bans on Antimony commencing Sept 15, amid simmering trade tensions with the USA.
Antimony prices are expected to climb further, after almost doubling since the start of 2024.
Derived from the Greek “not alone” Antimony is most commonly found in association with over 100 other minerals, commonly with Gold.
Such is the case with Great Divide Mining’s (GDM) Coonambula project, an advanced Antimony & Gold project located in a region of historically proven workings.
“Drilling at our Banshee Prospect in EPM 16216 has revealed grades of up to 5.1 per cent Sb together with 1.5 per cent Au,” said CEO of GDM Justin Haines.
Used in solar panels, military equipment and munitions, and as a fire retardant, Antimony was already in short supply at the beginning of 2024 trading at $USD 22,000 ton.
“The Banshee project lies within the historical Hungry Hill workings, first mined in 1876, then in 1907, 1928, 1953 & 1955. The mine re-opened in1983 when 20 tons of ore was mined containing 4 tons of Antimony,” he said.
“An initial exploration program by Queensland Ores in 2013 included geochemical sampling, gravity survey, IP survey and drilling. A further drilling program followed in 2014,” said Mr Haines.
“Current indicated strike length is 650m varying in depths from 1.25m to 77m,” he said, “which bodes well for progressive mining able to derive positive cashflows early.
“Rock chip samples collected at Banshee have returned assays of up to 44.9 per cent Sb, 0.97 ppm Au and 140 ppm Ag.”
“At GDM we have always taken the position of dig once & invoice twice,” said Justin, “Proximity to Gympie is handy. Gold together with Antimony works for us.”
