Antimony: The Overlooked Critical Mineral Powering a New US–Australia Alliance

Core Insights - Antimony is increasingly recognized for its strategic importance in defense, energy storage, and industrial applications, leading to heightened capital flows and diplomatic focus on Australian small-cap companies [1][2][22]. Industry Overview - Antimony (Sb) is classified as a critical mineral by the US Geological Survey, essential for national security due to its unique applications in munitions and high-temperature electronics [2]. - China dominates the global antimony supply, producing approximately 60% of the total output as of 2024, and controls much of the downstream processing capacity [3][4]. Supply Chain Dynamics - China's environmental regulations and resource depletion are causing a decline in domestic antimony output, with significant export restrictions expected to impact global supply starting in 2025 [4][5]. - Recent customs data indicates that China's antimony exports fell by around 88% in June 2025 compared to January levels, attributed to stricter export controls and crackdowns on smuggling [5][9]. Geopolitical Context - The US is heavily reliant on imports for its antimony supply, with no significant domestic production since the closure of its last major mine, increasing vulnerability to supply disruptions [10]. - In response to these challenges, the US government is actively seeking to bolster domestic production and secure supply chains through initiatives like JPMorgan's US$1.5 trillion "Security and Resiliency Initiative" [12][21]. Australian Market Opportunities - Australian companies such as Nova Minerals and Resolution Minerals are positioned as key suppliers to the US, with strategic projects focused on antimony [13][16]. - Other notable Australian small-cap companies with antimony exposure include Larvotto Resources, Trigg Minerals, and Critical Resources, all of which are advancing projects with significant antimony potential [17][20]. Future Outlook - The intersection of policy and capital is shaping a new phase of mining investment, with antimony emerging as a critical mineral that could redefine industrial self-sufficiency for allied nations [21][23]. - As geopolitical tensions rise, antimony is expected to gain prominence not only in commodity markets but also on the global diplomatic stage [22].