China has recently announced new export restrictions on antimony, a critical mineral used in various industries, including defense, technology, and energy. The country made this move to protect its national security and economic interests, amid rising geopolitical tensions and concerns over the global supply chain.
While the full extent of these restrictions remains unclear, the mention of “non-proliferation” in official communications suggests a particular focus on limiting the use of antimony in weapons and other defense-related applications.
In a brief statement, the Chinese Ministry of Commerce stated: “We oppose any country or region using controlled items from China to engage in activities undermining China’s national sovereignty, security, and development interests.” This directive extends beyond antimony to include smelting and separation technologies, machinery, and other items classified under “super-hard materials.”
Antimony, a vital component in products such as flame retardants, batteries, night-vision equipment, and nuclear weapons, has become a focal point in the ongoing technological and security rivalry between the U.S. and China. The U.S. has already imposed restrictions on China’s access to advanced semiconductors and other sensitive technologies, citing security concerns. With China being a major global producer of antimony, American policymakers are increasingly wary of over-reliance on Chinese supplies.
According to a 2021 report by the U.S. International Trade Commission, antimony plays a crucial role in various defense and technological applications. In response to the tightening supply, Jon Cherry, CEO of Perpetua Resources—a U.S. company working on an antimony and gold project with Pentagon backing—expressed the urgency of ramping up domestic production. “The U.S. Department of Defense is aware of the critical shortage of antimony and the increasingly tight market, as the supply situation continues to worsen,” Cherry noted.
China’s latest measures build on a series of export restrictions introduced over the past year. In December 2023, Beijing expanded its export bans to include technology related to the production of rare earth magnets, further tightening controls on graphite, gallium, and germanium—materials crucial to the semiconductor industry.
These export curbs have already had a significant impact on the global market, with antimony prices reaching record highs due to limited supply and rising demand, particularly from the photovoltaic sector, where it is used to enhance solar cells. The surge in prices has also driven up the stock values of Chinese producers such as Hunan Gold, Tibet Huayu Mining, and Guangxi Huaxi Non-Ferrous by 66% to 93% in 2024.
