Top 7 Antimony Mining Companies Compared by Tonnes

The antimony producers with the largest published output are Chinese, but the companies most investors and buyers ask about sit outside China: Perpetua Resources, Larvotto Resources, Alkane Resources, United States Antimony and Americas Gold and Silver. China mined about 40,000 tonnes of antimony in 2025 out of roughly 110,000 tonnes worldwide, according to the US Geological Survey (USGS, 2026). This page compares seven antimony mining companies using each company’s own filings and results, and shows which numbers are real output and which are plans.

Antimony (chemical symbol Sb) is a silver-grey metalloid. It is mined mostly from the sulphide mineral stibnite and is used in flame retardants, lead-acid batteries, ammunition and ceramics. In the United States, flame retardants and other metal products took 49% of antimony use, antimonial lead and ammunition 40%, and ceramics, glass and rubber 11% (USGS, 2026).

Top 7 antimony mining companies compared

The table lists the companies in order of the largest annual antimony figure each one states. Read the “Basis” column first: some figures are actual output, some are plant capacity, and one is a plan for a mine that is still being built. They are not like-for-like, so use the order as a guide to scale, not as a league table of tonnes mined this year.

How we chose and ranked these producers

We included companies that either mine antimony now or are building a mine, that publish an antimony figure in a filing, results release or company interview, and that we could check against that document. The ordering metric is the largest annual antimony figure the company itself states, converted to tonnes, with the basis shown. Where a company reports pounds, we multiplied by 0.4536 to get kilograms. For Perpetua, the 7,800 t figure is our arithmetic: 69 million pounds of recovered antimony over the first four years, divided by four.

This list is not complete. Many Chinese, Russian and Tajik producers are private or state-linked and do not publish tonnes, so they cannot be ranked from public documents. The Anzob operation at Dzhizhikrut in Tajikistan, for example, is wholly owned by US-based Comsup Commodities, but no output figure for it is published. Nothing here is investment advice.

The seven antimony producers in detail

1. Hsikwangshan Twinkling Star (Xikuangshan, China)

Best for: understanding the scale of Chinese supply. The company runs the Xikuangshan mine area in Hunan province. The company profile in the interview says it has two antimony mines and two smelting plants, with yearly capacity of 20,000 tonnes of antimony ingot and 40,000 tonnes of antimony products, and calls it the world’s largest producer (Asian Metal interview). The interview discusses late 2023 inventory, so it reflects early 2024.

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Stated annual antimony figures

Tonnes per year; bases differ. Four of seven companies shown: Twinkling Star (40,000 t capacity) is omitted for scale, and the two US sellers are under 200 t

Pros: the largest stated capacity on this list; integrated from mine to ingot. Cons: capacity is not output, the “largest” claim comes from the company, and the interview carries no audited production figure. Foreign buyers also depend on Chinese export licences (see the section on export controls below).

2. Perpetua Resources (Stibnite, Idaho)

Best for: the only identified antimony reserve in the United States, according to the company. Perpetua (Nasdaq and TSX: PPTA) reports 149 million pounds of antimony reserves and 4.8 million ounces of gold reserves at the Stibnite Gold Project. Its technical report summary (effective 31 December 2025) forecasts 69 million pounds of recovered antimony in years 1 to 4 and 106 million pounds over 15 years, with initial capital of US$2,576 million, using a price of US$10 per pound of antimony (Perpetua investor presentation, September 2026). The presentation lists commencement of production for 2029.

The project received final federal approval in 2025 and is in early works and critical-path construction. In July 2026 Perpetua, the US Army and Idaho National Laboratory opened a pilot plant that will turn Stibnite antimony samples into antimony trisulfide for military use, and the company reports more than US$87 million of awards from the US Department of War and Army (Perpetua construction update, August 2026). Drilling in 2026 reported intercepts such as 22.9 metres at 3.2% antimony and 1.2% tungsten.

Pros: the largest planned non-Chinese antimony output on this list; permitted. Cons: no production until the 2029 target; antimony is a by-product next to gold in the mine plan; antimony is mined together with a much larger gold reserve, so the economics lean on gold.

3. TALCO Gold (Konchoch, Tajikistan)

Best for: seeing how Chinese capital is moving into processing. TALCO Gold is owned 50% by the state-owned Tajik Aluminium Company and 50% by China’s Tibet Huayu Mining. In July 2026 it commissioned a plant able to make up to 5,000 tonnes of metallic antimony a year, where it previously made mainly concentrate. Tajik authorities estimate Konchoch holds more than 265,000 tonnes of antimony (Times of Central Asia, September 2026).

Pros: a new, large metal plant in the country that USGS lists as the third-largest miner. Cons: capacity is not output; limited public reporting; the resource figure is a government estimate, not a reserve under a reporting code.

4. Larvotto Resources (Hillgrove, Australia)

Best for: a restarting Australian gold-antimony mine with offtakes in place. Larvotto (ASX: LRV) is restarting the Hillgrove mine in New South Wales. Its May 2025 definitive feasibility study (DFS) forecasts about 4.9 kilotonnes of antimony and 40.6 thousand ounces of gold a year over an eight-year mine life (Larvotto DFS presentation, May 2025). The company’s ASX announcement of 9 June 2026 describes a binding offtake (a contract to sell the output) of gold concentrate to Glencore for the first seven years, about 15,000 dry tonnes of concentrate a year, and refers to an earlier antimony concentrate offtake with Wogen Resources (Larvotto ASX announcement, 9 June 2026). United States Antimony holds an investment in Larvotto, valued at US$43.2 million on 30 June 2026 in its results.

Pros: producing, with sales contracts signed. Cons: ramp-up to full rate is still ahead, and the 4,900 tonnes is a forecast, not yet an output figure.

5. Alkane Resources (Costerfield, Victoria)

Best for: a high-grade underground gold and antimony mine with reported yearly numbers. Costerfield is wholly owned by Alkane. In the financial year to 30 June 2026 it produced 40,103 ounces of gold and 1,298 tonnes of antimony. Resources at 30 June 2026 were 1.99 million tonnes at 6.0 g/t gold and 2.1% antimony (measured and indicated), and reserves were 960,000 tonnes at 5.5 g/t gold and 1.6% antimony (Alkane Resources, Costerfield page). In these figures, g/t is grams of gold per tonne of rock and % is the share of antimony in the rock.

Geoscience Australia, which builds its antimony figure from company reports, shows Australian mine production of 0.8 kilotonnes in calendar 2025, down 39% from 1.3 kilotonnes in 2024, and proved and probable antimony ore reserves of 48.1 kilotonnes (Geoscience Australia, 2026 preliminary tables). That is lower than the USGS estimate of 1,300 tonnes, because the two agencies use different data and periods.

Pros: actual output and high grade. Cons: small tonnage next to Chinese producers; gold is the larger revenue line in most periods.

6. United States Antimony (Montana, Idaho and processing)

Best for: a US antimony smelter and metal seller. United States Antimony (NYSE: UAMY) sold 428,425 pounds of antimony in the second quarter of 2026, excluding sales to the US Defense Logistics Agency (DLA), at an average US$13.70 per pound, about 52% lower than a year earlier. Revenue was US$7.9 million, and the company cut its 2026 revenue guidance to US$60 million to US$75 million from US$125 million. It reports its Thompson Falls, Montana, smelter expansion as substantially complete and a flotation plant at Radersburg, Montana, as commissioned (US Antimony Q2 2026 results, SEC). USGS notes that in 2025 one domestic company began mining antimony in Montana and that primary antimony metal and oxide were made in Montana from imported feedstock (USGS, 2026).

Pros: domestic processing and sales to the US Defense Logistics Agency. Cons: sales depend on imported feed and on price swings, and the guidance cut shows how sensitive results are to the price.

7. Americas Gold and Silver (Galena Complex, Idaho)

Best for: antimony as a by-product of silver mining. Americas (TSX: USA, NYSE American: USAS) produced about 234,000 pounds of antimony in the first half of 2026, 97,000 pounds of it in the second quarter, and realised US$11.08 per pound in Q2. It describes the Galena Complex as the nation’s largest antimony mine and is building a processing facility in a 51/49 joint venture with United States Antimony (Americas Gold and Silver Q2 2026 results). The “largest” description is the company’s own.

Pros: producing now, from an established silver mine. Cons: antimony is small next to silver, so volumes are modest.

Where antimony is mined and who holds the reserves

Three countries produced about 85% of world mine output in 2025: China (about 40,000 tonnes), Russia (about 32,000) and Tajikistan (about 22,000), against a rounded world total of 110,000 tonnes (USGS, 2026). China alone mined about 36% of the world total (40,000 of 110,000 tonnes). Russia’s estimated output fell from 40,000 tonnes in 2024 to 32,000 in 2025.

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Mine output, selected countries, 2024 against 2025

Tonnes of contained antimony; 5 of 17 producing countries shown

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Antimony mine production, selected countries, 2025

Tonnes of contained antimony (USGS estimates); 8 of 17 producing countries shown; world total about 110,000 t

Reserves tell a different story. USGS lists world reserves of more than 2 million tonnes, with China at 830,000, Russia 350,000, Bolivia 310,000, Myanmar (Burma) 140,000 and Australia 110,000 tonnes. The United States has 60,000 tonnes, and US resources are mainly in Alaska, Idaho, Montana and Nevada. The United States imported 91% of its apparent consumption in 2025, up from 81% in 2023 (USGS, 2026).

Antimony price and what a tonne of ore is worth

USGS puts the average antimony metal price at US$5.31 per pound in 2021, US$10.24 in 2024 and US$25 in 2025. In 2024, the monthly average nearly doubled from US$9.80 per pound in August to US$18.10 in December after China announced export restrictions (USGS, 2026). In 2026 the price has fallen back: United States Antimony’s realised price in Q2 was US$13.70 per pound and Americas Gold and Silver’s was US$11.08. Perpetua’s technical report uses US$10 per pound for its base case.

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Average antimony metal price

US dollars per pound, annual average (2025 estimated)

Use the calculator below to test what an antimony deposit could earn. It uses the ore tonnage, grade and recovery you enter, and a price you must update to the day’s quote. It ignores mining and processing costs, royalties and treatment charges, so it shows revenue, not profit.

China’s export controls and why they matter to antimony miners

China announced licensing for antimony exports in 2024, and its Ministry of Commerce banned exports of gallium, germanium and antimony to the United States in December 2024 (Announcement No. 46). Following US and China trade talks, the US-specific ban was suspended from 9 November 2025 until 27 November 2026, while the licensing system and the ban for military end-users remain. A law firm review notes that the legal framework stays intact, so the suspension can be reversed (Pillsbury, November 2025).

For a company outside China, this is the commercial case: buyers want sources that licences cannot switch off. It is also the risk: if the restrictions end, prices can fall, as the 2026 realised prices show.

What to check before backing an antimony project

1. Reserve or resource? A reserve is ore shown to be economic under a reporting code; a resource is a geological estimate. Perpetua and Alkane publish reserves; the Konchoch figure is a government estimate.
2. Grade. Costerfield’s reserve grade is 1.6% antimony. Stibnite is a much larger, lower-antimony-grade deposit that carries gold.
3. Is antimony the main metal or a by-product? At Hillgrove, Costerfield and Stibnite, gold sits beside antimony. Revenue then depends on two prices.
4. Offtake and processing. Who buys the concentrate, and who turns it into metal or trisulfide? Larvotto has seven-year offtakes; Perpetua has issued a request for proposals for antimony offtake.
5. Stage. Separate producing mines (Costerfield, Galena) from those at first concentrate (Hillgrove) and those in construction (Stibnite).
6. Price sensitivity. Test the plan at a price far below the 2025 average, as the 2026 results show prices can drop by half in a year.

Infographic

Screening an antimony company in 5 steps

1. 1Find the filingRead the latest results or technical report, not the press summary.
2. 2Split actual from planSeparate tonnes produced from capacity and targets.
3. 3Check grade and by-productsNote the antimony grade and whether gold or silver carries the revenue.
4. 4Check the buyerLook for a signed offtake and a processing route.
5. 5Test the priceRe-run the numbers at a price well below the 2025 average.

The guide on geochemical survey design explains the soil and stream sampling that usually comes after a desk screen, and the page on tungsten and antimony in Canada covers a neighbouring set of projects.

How satellite screening fits into antimony exploration

Antimony deposits such as Stibnite form in hot-water systems that often carry gold, and they leave altered rock at the surface: clay, iron stains and fault lines that multispectral satellites can map. Satellites do not see antimony itself. They narrow a large licence area to targets that geologists then sample on the ground, and the page on gold deposits in Idaho covers the state where Stibnite and Galena sit. Farmonaut offers satellite-based mineral detection for licence areas; ask whether your commodity is covered, and send a polygon through the mining quote form or the contact page. Results are exploration targets, ahead of any resource estimate.

▶ Explains how remote sensing measures the ground from a distance, in three minutes. · 2:01

We cover a connected topic in Sustainable Mining Companies: 7 Compared on Real Data.

Frequently asked questions

Is antimony valuable?

Yes, but the price swings widely. USGS reports an average of US$25 per pound in 2025, more than double the 2024 average of US$10.24, and listed producers reported US$11 to US$14 per pound in the second quarter of 2026. A tonne of metal is 2,204.6 pounds, so US$10 per pound is about US$22,000 per tonne.

▶ Covers the limits of satellite exploration that due diligence readers should know. · 2:08

Who is the largest antimony mining company?

Hsikwangshan Twinkling Star calls itself the largest producer and states capacity of 40,000 tonnes of products a year. No independent audited output ranking exists, because many Chinese and Russian producers do not publish tonnes.

Which countries produce the most antimony?

China, Russia and Tajikistan, with about 40,000, 32,000 and 22,000 tonnes in 2025 (USGS estimates).

Are there antimony mines in the United States?

Yes, on a small scale. USGS says one domestic company began mining antimony in Montana in 2025. Americas Gold and Silver mines antimony as a by-product at the Galena Complex in Idaho, and Perpetua’s Stibnite mine in Idaho is under construction.

Which antimony companies are publicly listed?

Perpetua (Nasdaq and TSX: PPTA), United States Antimony (NYSE: UAMY), Larvotto Resources (ASX: LRV) and Americas Gold and Silver (TSX: USA, NYSE American: USAS) are listed; Costerfield belongs to Alkane Resources. This is a list of facts, not a recommendation, and it is not investment advice.

What is antimony used for?

Mainly flame retardants, lead-acid battery alloys and ammunition, plus ceramics, glass and rubber products. Antimony trisulfide, which Perpetua is testing with the US Army, is used in ammunition and other military applications.

What is antimony ore called?

The main ore mineral is stibnite, an antimony sulphide. At Stibnite and Costerfield, it occurs with gold.

Why did antimony prices rise and then fall?

Prices rose after China announced export restrictions in 2024 and fell in 2026 as supply responded and the US-specific ban was suspended. United States Antimony cited lower antimony prices when it cut its 2026 revenue guidance.

Does China still restrict antimony exports?

Licensing still applies. The ban aimed at the United States is suspended from 9 November 2025 to 27 November 2026, and the military end-user ban remains.

How do you explore for antimony?

Explorers map the geology, sample soil and stream sediments for antimony and arsenic, and drill the best targets. Satellite and aerial data are used at the first stage to choose where to sample.