As global powers race to secure the raw materials needed to fuel their energy transition goals, strengthen national defense, and maintain technological leadership, a once-overlooked element is stepping into the spotlight as the next strategic opportunity: Antimony.
Antimony has a long-established traditional role in flame retardants and semiconductors, but this critical mineral is now at the center of geopolitical and supply chain security strategies. With China controlling the majority of global supply and western governments scrambling to build domestic capacity, investors are starting to pay closer attention.
Case for securing supply chains
Antimony is a silvery, brittle metalloid with a surprisingly wide range of uses. It’s best known for its role in flame retardants, which account for more than 80 percent of US consumption, but it’s also a key ingredient in semiconductors, lead-acid batteries, and several defense applications including night-vision goggles and armor-piercing ammunition.
The metal’s heat-resistant properties make it indispensable in products that need to withstand high temperatures, from electronic components to military equipment. Recognizing this importance — and the risks associated with concentrated supply chains — the US Department of the Interior has designated antimony a critical mineral, meaning it’s essential to economic and national security and has a high risk of supply disruption.
Like many critical minerals, global antimony supply is heavily concentrated in China, which accounted for roughly 48 percent of global mine production in 2022, and around 63 percent of US antimony imports.
This dominance has increasingly come under scrutiny and highlighted a global supply vulnerability. In late 2024, Beijing introduced tighter export controls on antimony, citing national security concerns, subsequently raising alarms in Washington. The US imports more than 80 percent of its antimony, and China is its largest supplier.
Outside China, global production is limited, with smaller contributions from countries such as Tajikistan, Russia and Australia. That concentration has left western economies vulnerable to supply disruptions and has prompted new initiatives to develop domestic or allied sources of critical minerals.
Investment landscape
As governments push to secure critical mineral supply chains, and investors are increasingly looking beyond headline commodities like lithium and rare earths, antimony is emerging as a niche but strategic investment theme.
Antimony prices have climbed steadily on the back of tightening supply.
By mid-2025, US prices were averaging around US$55,000 to US$60,000 per metric ton, while Chinese prices hovered near US$40,000 per metric ton, supported by export restrictions and limited new supply. Analysts expect prices to remain firm through the late 2020s unless significant new production emerges.
Amid the strong prices, the size of the global antimony market is expected to grow from US$1.08 billion in 2024 to US$1.78 billion in 2032, according to data from Fortune Business Insights. This combination of a strong market price, rising strategic demand and constrained supply is creating a favorable environment for junior exploration companies with antimony resources in stable jurisdictions.
Spotlight on NevGold: Strategic leverage in a tight market
For investors looking to gain exposure to antimony in secure jurisdictions, NevGold (TSXV:NAU,OTCQX:NAUFF,FWB:5E50) offers a compelling case. Best known for its growing gold portfolio in Nevada and Idaho, the company is now adding a strategic mineral potential to its mix through its Limousine Butte project in Nevada.
In early 2025, NevGold made a significant discovery at Limousine Butte. Initial drilling has outlined extensive mineralization across multiple targets, with particularly promising results at Resurrection Ridge, where more than 1000 meters of strike have been defined with thick, high-grade intercepts of gold and antimony near surface.
Importantly, metallurgical testing indicates that antimony can be recovered efficiently alongside gold, suggesting potential for a dual-revenue operation. This matters for two reasons. First, NevGold’s projects are located in Nevada, a top-tier mining jurisdiction with strong infrastructure, regulatory clarity and proximity to North American markets. This is the ideal setting policymakers are prioritizing as they seek to build domestic supply chains for critical minerals.
Second, while NevGold remains fundamentally a gold company, its growing antimony footprint gives investors exposure to a strategic metal at a time when governments are actively incentivizing local production.
The enduring appeal of gold and the emerging strategic importance of antimony make a compelling investment narrative for NevGold’s. For investors, that combination offers both defensive value and growth potential and NevGold has one of the most advanced antimony projects in the United States, offering significant strategic importance to the United States government initiatives in building a vertically integrated domestic antimony supply chain.
Investor takeaway
Antimony is quickly moving from an obscure industrial mineral to a strategic resource at the heart of geopolitics, national defense and the clean energy transition.
With China holding a dominant position in global supply and western governments ramping up efforts to secure their own sources, the stage is set for antimony to gain more attention from investors.
For those looking to diversify their critical minerals exposure, early movers in stable jurisdictions could be well-placed to benefit. Companies like NevGold, with emerging antimony assets alongside gold projects, highlight how strategic positioning can create new avenues for value in a rapidly shifting resource landscape.
This INNSpired article is sponsored by NevGold (TSXV:NAU,OTCQX:NAUFF,FWB:5E50). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by NevGold in order to help investors learn more about the company. NevGold is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with NevGold and seek advice from a qualified investment advisor.
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