Global Antimony Shortage Deepens Amid Ukraine Munitions Demand

A growing global shortage of antimony, a critical material used in the production of munitions, is expected to deepen as Western nations, including the United States and European countries, work to replenish their stockpiles of bullets and bombs used in the ongoing conflict in Ukraine. This warning comes from Larvotto Resources Ltd., a company poised to open a new mine in Australia next year, which will provide one of the few new sources of the niche metal.

The global antimony market, which is currently dominated by China and Russia, has seen a surge in prices, nearly quadrupling in the past year. This sharp rise follows China’s decision to tighten its export restrictions on key materials, prompting a scramble for supplies across high-tech and defense industries worldwide. Antimony, often combined with lead to form alloys, is used in the production of bullet cores, explosives, and shrapnel weapons. As Ukraine’s Western allies continue to provide military support, the need for munitions and the subsequent replenishment of stockpiles will increase the demand for antimony.

Ron Heeks, Managing Director of Larvotto Resources, highlighted the issue in an interview, explaining that much of the antimony and lead used in munitions would typically be recycled for future use in new weapons. However, with much of this material already being used on the front lines in Ukraine, the demand for new supplies is more urgent than ever.

While military applications of antimony are a smaller part of its overall demand, the metal remains critical for various industries, including the production of flame retardants, lead-acid batteries, and chemicals. The global demand for antimony outside of the battery sector stands at around 120,000 tons annually, while current production levels are only around 80,000 tons, according to Heeks.

In December, China escalated the situation by imposing a ban on antimony exports to the United States, alongside other strategic materials like gallium and germanium. This move further solidifies China’s position as a dominant player in the global supply of these essential materials. In response to rising geopolitical tensions and the Ukraine conflict, the Biden administration has given preliminary approval for a mine in Idaho, part-funded by the U.S. Department of Defense, to increase domestic antimony production. Meanwhile, Larvotto’s Hillgrove project in Australia is set to become the country’s largest antimony mine and is expected to contribute as much as 7% of global supply.

As China, Russia, and Tajikistan continue to control approximately 87% of the world’s mined antimony, global supply chains remain highly vulnerable. Larvotto’s mine, which is slated to begin production next year, offers a rare new source of antimony from a Western nation, and its output could prove vital in addressing the growing shortage exacerbated by military demands.