oleocene.org

Antimoine : le Maroc avance ses pions sur un métal critique dominé par la Chine

Agence Ecofin 03 juin 2026

Dans un monde de plus en plus assoiffé de nouvelles sources de minerais critiques, chaque développement en la matière suscite l’attention. C’est particulièrement le cas en Afrique, où les projets miniers s’accélèrent, des métaux les plus connus aux plus discrets, comme l’antimoine.

Xtract Resources, junior minière cotée sur l’AIM de la Bourse de Londres, a annoncé mardi 2 juin avoir obtenu le permis d’exploitation minière pour son projet d’antimoine d’Amghas auprès du gouvernement marocain. Cette avancée ouvre la voie au lancement de la production sur cet actif appelé à devenir l’un des rares fournisseurs connus de ce métal critique depuis le Royaume chérifien, dans un marché dominé par la Chine.

Une position encore discrète…

L’antimoine est un métalloïde utilisé dans des secteurs tels que la sécurité incendie, le stockage d’énergie, l’électronique ou encore la défense. Considéré comme critique aux États-Unis, il est principalement produit en Chine, qui a livré 40 000 tonnes de concentré sur un total mondial de 110 000 tonnes en 2025 selon l’U.S. Geological Survey. La Russie arrive ensuite, tandis que le Tadjikistan et la Bolivie figurent également parmi les principaux fournisseurs mondiaux. Malgré l’existence de productions artisanales historiques, le Maroc ne figure pas parmi les producteurs recensés.

Une situation susceptible d’évoluer avec le projet d’Amghas, offrant une certaine visibilité sur la filière, qui compte aussi le projet Casablanca, un actif d’antimoine moins avancé porté l’australien Zeus Resources. Le permis obtenu couvre une période renouvelable de dix ans, et Xtract Resources vise déjà une première production de concentré d’antimoine au quatrième trimestre 2026.

Le plan repose sur l’installation d’une usine de traitement capable de traiter 70 000 tonnes de minerai par an, sous réserve de l’obtention d’un permis de traitement. Au-delà de cet objectif, plusieurs inconnues demeurent. Bien que la société affirme avoir réalisé une étude de faisabilité, elle n’a publié ni estimation détaillée des ressources pour le projet ni informations précises sur les investissements requis.

« L’octroi du permis d’exploitation minière d’Amghas et la mise en place rapide des infrastructures de traitement constituent une étape importante pour Xtract au Maroc. Grâce à l’achèvement des travaux de réhabilitation, à une évaluation encourageante des ressources et à une usine de traitement par gravité d’une capacité de 70 000 tonnes par an en voie d’être opérationnelle, nous sommes convaincus que [le projet, Ndlr] est en bonne voie pour une production rapide de concentré d’antimoine », a déclaré Colin Bird, président exécutif de Xtract Resources.

Quid de la suite ?

La levée des zones d’ombre entourant le projet sera déterminante pour évaluer son potentiel. D’autant plus que Xtract prévoit déjà une seconde phase de développement, avec la construction d’une usine de plus grande capacité destinée à traiter non seulement le minerai d’Amghas, mais aussi celui provenant de mines artisanales locales.

La société devra également sécuriser des débouchés commerciaux pour sa future production. La relative diversification du marché de l’antimoine, avec la présence de producteurs secondaires comme la Turquie, le Vietnam ou le Mexique aux côtés des grands acteurs dominants, ne facilite pas cet exercice, les acheteurs disposant d’un large éventail d’approvisionnements sans dépendance à une source unique. En Afrique, le Maroc n’est par ailleurs pas le seul pays doté d’un potentiel en antimoine, l’Afrique du Sud étant également reconnue pour ses ressources.

Military Metals sinks on revoked Slovak antimony project licence

Staff Writer | May 29, 2026

Military Metals (CSE: MILI) is contesting a decision by Slovakian environmental authorities to revoke the company’s exploration licence on the Trojarova antimony-gold project.

In a statement this week, the Canadian explorer said the Ministry of the Environment of the Slovak Republic had cancelled the Trojarova licence “without appropriate justification”, and that it will “pursue all legal avenues” to fight the decision.

.......................
The Trojarova project currently has a historic resource defined during the Soviet Era, totalling 415,000 tonnes grading 0.162% antimony as well as 1.148 g/t gold based on underground exploration data.
......................

Perpetua Resources receives $2.9bn loan from EXIM
The approval from EXIM followed comprehensive technical, financial, environmental and social evaluations.

Shree Mishra May 22, 2026

Perpetua Resources has received a $2.9bn senior secured long-term loan from the Export-Import Bank of the US (EXIM) to develop the Stibnite Gold Project in Idaho.

This funding is part of EXIM’s Make More in America Initiative (MMIA), designed to enhance domestic manufacturing and job creation.

The Stibnite Project is said to be the only identified domestic reserve of antimony, a crucial mineral for national security and industry.

The loan, alongside Perpetua’s cash reserves, is expected to cover the project’s construction costs.

The project aims to sustainably redevelop the abandoned Stibnite Mining District in Idaho, focusing on gold production and establishing the only reported domestic reserve of antimony.

It involves environmental clean-up, securing antimony for US commercial and defence needs, and creating an average of more than 700 direct jobs annually, contributing significant tax revenue to local communities and Idaho.
.............................

Red Mountain to restart US antimony exploration activities
The company will undertake surface geological mapping and sampling at the Thompson Falls Antimony Project.

Shree Mishra April 9, 2026

Red Mountain Mining has announced plans to recommence exploration activities at its antimony projects in the US as favourable weather returns.

The company will undertake surface geological mapping and sampling at the Thompson Falls Antimony Project on the Montana-Idaho border.

This project lies west of US Antimony Corporation’s Thompson Falls Antimony Smelter and the Stibnite Hill Antimony Mine.

Initial rock chip analysis from the site indicated up to 36.5% antimony and 1.12 parts per million gold.

Max Baker has been appointed as an advisor to the Red Mountain board, bringing significant expertise from previous roles in mineral exploration.

Montana-based KC Harvey Environmental has also been engaged to provide technical support to expedite project approvals, aiming to progress swiftly to drilling and resource definition.

Following the initial work at Thompson Falls, Red Mountain intends to initiate mapping and sampling at its Yellow Pine and Silver Dollar antimony projects in Idaho.

The Yellow Pine Project is situated near Perpetua Resources’ Stibnite Gold-Antimony Project, which shares similar geologic traits.

Antimony and gold deposits at Stibnite are influenced by regional faults and splays appearing within the Cretaceous Idaho Batholith, as well as adjacent older meta-sedimentary rocks.

The US Government, emphasising the importance of critical minerals, has shown support for such initiatives, as illustrated by the recent granting of FAST-41 status to nearby projects.

Red Mountain is exploring funding opportunities in collaboration with US consultants, aiming for non-dilutive financing options.

The company was able to collect and submit rock samples for analysis at Thompson Falls before winter, revealing significant antimony concentrations.

Field crews are set to return in April as conditions improve, continuing efforts to identify and develop potential drill targets.

United States Antimony restarts mining in Montana

Staff Writer | April 2, 2026

United States Antimony Corp. (NYSE: UAMY) said on Thursday it has resumed mining at its Stibnite Hill property in Montana following a near five-month halt.


In November, the company announced it had ceased activities at the site due to weather conditions. The halt came just weeks after it began mining raw ore from Stibnite Hill for sampling at a flotation mill in Radersburg following Montana state approval.

The plan is to process the material into antimony concentrates and then transport them to USAC’s existing smelter in Thompson Falls, where they will be turned into finished products and sold to its customers.

Antimony has several key industrial uses, among which are defense applications such as flame retardant fabrics, communication equipment, night vision goggles, ammunition and laser sighting. The US has no mined production of antimony, and therefore relies on foreign suppliers such as China for the critical mineral that its military uses.

USAC’s Thompson Falls site is currently the only antimony smelter in the US. It also owns the only other one in North America: Madero in Mexico.

With the start of operations at Stibnite Hill — a former mine that operated for 15 years from the late 1960s to early 80s — the company is looking to establish itself as the first fully integrated antimony operation outside of China and Russia.

On its website, USAC noted that its Thompson Falls smelter can produce approximately 15 million lb. of antimony oxide or 5 million lb. of antimony metal per year, and an expansion is underway to boost that production capacity.

2026 mining program

During last year’s mining period, approximately 800 tons of antimony ore were brought from the mountain to the Radersburg facility, USAC has noted. In October, the company said there were early indications that the material could be upgraded to meet military specifications.

The restart, according to the company, was earlier than expected due to “milder weather conditions” and “minimum snowfall” in Montana.

This year, USAC is also looking to make several changes to its mining program, including the use of a chipper for the smaller brush and branches to produce a mulch that will be used in the concurrent reclamation program.

This will aid in faster re-vegetation while providing better access to existing roads and trails where 2026 mining activities are commencing, it said.

The company also said it plans to establish base stations on adjacent mountain tops, where GPS transmitters will be set up so that its field crews can use portable data collectors for more accurate mapping and recording of antimony vein intercepts, enabling the projection of antimony veins on strike and down dip.

Shares of United States Antimony advanced 4.5% after announcing the restart of mining, erasing its losses for the week. The company, which recently uplisted to the NYSE, has a market capitalization of $1.2 billion.

American Tungsten & Antimony finds high-grade antimony in Utah, US
The initial drilling programme encountered shallow, high-grade stibnite mineralisation.

12th Mar 2026

American Tungsten & Antimony has announced high-grade antimony findings from initial drilling at the Little Emma Prospect, part of its wholly owned Antimony Canyon Project in Utah, US.

The results mark the beginning of its inaugural drilling programme and suggest potential for a substantial antimony system in the country.

The drilling programme encountered shallow, high-grade stibnite mineralisation, offering early validation of the company’s geological model and promising continuity in the mineralised system.

Initial drilling yielded key intercepts including 11.03m at 3.1% antimony from 25.91m, with 2.62m at 12.54% antimony from 29.2m.

Additional findings comprised 8.47m at 2.67% antimony from 31.15m, including 2.2m at 9.69% antimony from 36.88m, and a further intercept of 2.14m at 3.02% antimony from 40.23m.

With more than 20 historic antimony mines in its patented claim block, the Little Emma Prospect underscores the district-scale exploration potential at Antimony Canyon.

The US Government classifies antimony as a critical mineral that is vital for national security due to its applications in defence systems, semiconductors, batteries, flame retardants and advanced manufacturing.

Currently, the US depends heavily on foreign sources, particularly China, for its antimony supply.

Antimony Resources boosts Bald Hill potential with expanded stibnite mineralization

Staff Writer | February 20, 2026 |

Antimony Resources Corp. announced this week that it has expanded and outlined further “massive” antimony stibnite mineralization at the Marcus West Zone at its Bald Hill project in Canada’s New Brunswick province.


The field crew has exposed further mineralization in bedrock through continued trenching, and sampling is ongoing to further trace it along strike, the company said.

Stibnite is commonly mined for its antimony content. China implemented strict export controls on antimony in September 2024, significantly affecting global supply chains. Efforts to locate and extract the crucial material for defense and high-tech industries are ramping up in Canada and the US.

The new discoveries made on the Bald Hill property are part of the 2026 exploration program which will be carried out in conjunction with the 10,000-meter definition drilling on the Main Zone. The exploration program will include soil sampling as well as prospecting and sampling. An airborne survey is being investigated, ATMY said.

Drilling is scheduled to begin immediately on the Marcus West zone to complete up to six shallow drill holes to test the Zone at a depth of between 30 and 50 meters.

Unexplored areas to be further evaluated also include the Central Zone where 2010 trenching returned 2.90% Sb over 8.18m, which included 5.79% Sb over 1.75m and 8.47% over 1.53m and the South Zone where trenching by ATMY has exposed stibnite mineralization over approximately 150 meters, the company said.

“It is very exciting to see the mineralized samples being brought to surface by the excavator for examination by the geologists,” Antimony Resources CEO Jim Atkinson said in a news release.

”It is obvious that this is a highly mineralized area and the “bladed” stibnite is very attractive,” Atkinson said, adding that work is also progressing well on definition drilling at the Main Zone.

A second drill was added to this program this week, the company said.

L'antimoine du Pakistan, une alternative pour l'approvisionnement des États-Unis

RFI le : 06/01/2026

Le Pakistan ne détient qu'une petite fraction des réserves mondiales d'antimoine, mais c'est suffisant pour susciter l'intérêt des États-Unis, qui n'en produisent quasiment pas et en ont besoin pour fabriquer des retardateurs de flamme, des munitions ou encore des alliages intégrés dans les batteries électriques.

L'intérêt américain pour l'antimoine pakistanais s'est renforcé depuis la décision prise par la Chine d'interdire toute exportation vers les États-Unis à partir de décembre 2024. Ces mesures ont fortement perturbé l'approvisionnement et fait grimper les prix : le trioxyde d'antimoine, une poudre dérivée du métal gris argenté qui est incorporée à divers produits pour les rendre ignifuges, a atteint un pic à 60 000 dollars la tonne mi-2025 et tourne désormais autour de 40 000 dollars, soit près du double de ce qu'il valait il y a un an et demi.

Toute décision commerciale de la Chine a un impact énorme car elle est en position de force : le pays détient un tiers des réserves mondiales, et environ la moitié de la production d'antimoine raffiné, d'antimoine métal et de trioxyde de métal.

Tadjikistan et Pakistan, les alternatives à la Chine

Bien qu'assouplies fin novembre 2025, les restrictions chinoises ont eu suffisamment d'impact pour pousser les États-Unis à accélérer la diversification de leur approvisionnement. Le pays avait déjà commencé à sécuriser une partie de ses achats hors de Chine, depuis une décennie, au vu du déclin de la production chinoise, rappelle le cabinet d'analyse Project Blue.

Le Tadjikistan, qui représente avec la Russie et la Chine 80 % de la production mondiale, selon le site MineralInfo, est déjà un pays auprès duquel les États-Unis se fournissent. Ils s'intéressent aussi de très près au Pakistan, qui ne contient pourtant que 1 % des réserves mondiales mais où tous les gisements ne sont pas exploités. L'antimoine qui y est produit aujourd'hui provient essentiellement de mines artisanales situées dans une région frontalière avec l'Afghanistan.

Plusieurs accords signés

Depuis septembre dernier les annonces se sont multipliées entre des sociétés américaines et pakistanaises. On peut citer les protocoles d'entente signés à Islamabad par l'United States Strategic Metals (USSM) en septembre dernier avec Frontier Works Organization (FWO) le plus grand mineur de minerais critiques au Pakistan. Fin 2025, la société pakistanaise Himalayan a aussi signé un partenariat stratégique avec Nova Minerals, une société cotée aux États-Unis et en Australie. L'entreprise entend produire de l'antimoine de qualité militaire d'ici 2026/2027 et projette d'acheter début 2026 plus de 100 tonnes de concentré d'antimoine pakistanais pour un premier test de raffinage en Alaska, selon le Financial Times.

Les signatures du dernier trimestre 2025 illustrent les intérêts américains pour l'antimoine pakistanais qui était jusque-là essentiellement capté par des acheteurs chinois. Pour Washington, acheter au Pakistan permet aussi d'éviter que les ressources du pays ne tombent dans les mains de la Chine, qui est la première à investir dans les chaines de raffinage, même hors de son territoire.

Signe de ce rapprochement sur fond minier, des représentants américains se seraient vu proposer d'investir dans le développement d'un terminal dédié à l'exportation de minerais critiques, dans le port de Pasni sur la mer d'Arabie. Le projet rapporté par le Financial Times en octobre dernier, mais non confirmé par des voies officielles et manifestement encore embryonnaire, donnerait à Washington un accès privilégié à des ressources minières, aux portes de la Chine, comme le relève le quotidien britannique.

J2 Metals to acquire Sierra Plata silver antimony project in Mexico
The project is a 2,200ha land package in the Zacualpan District, near Taxco, Guerrero.

December 23, 2025

Perpetua partners with Idaho National Lab to build antimony processing plant

Staff Writer | December 10, 2025

Perpetua Resources (Nasdaq, TSX: PPTA) partnered with the Idaho National Laboratory (INL) to host, commission and operate a flexible, modular pilot processing plant expected to be capable of recovering critical and defense-related minerals.


The initiative — part of the Battelle Energy Alliance — is intended to demonstrate the feasibility of producing high-quality, military specification antimony trisulfide using material from Perpetua’s Stibnite project at the INL site.

In October, the company began early works construction at its $1.3 billion Stibnite gold-antimony project in central Idaho, which was fast-tracked by the Trump administration as part US Army’s objective of establishing a fully domestic “ground-to-round” antimony trisulfide supply chain.

The pilot plant is part of a broader partnership between Perpetua and the US Army via the Defense Ordnance Technology Consortium (DOTC) to secure domestic sources of critical minerals and advance domestic defense mineral processing capabilities.

“This partnership highlights Idaho’s role in national security and demonstrates our ongoing commitment to responsible resource development, job creation, and workforce training in Idaho,” Perpetua’s CEO Jon Cherry said in a news release. “The successful demonstration of this plant will contribute to sustained growth in American mineral independence and resilience.”

The pilot plant leverages the critical and strategic materials and defense programs at INL — the US Department of Energy’s (DOE) lead lab for nuclear energy research. Once installed, it will receive samples of material from the Stibnite project, and operators will conduct pilot-scale testing to produce antimony trisulfide concentrate needed for munitions and advanced systems used by US military, Perpetua said.

In May 2025, Perpetua was awarded up to $6.9 million in additional DOTC funding, bringing the company’s total DOTC awards up to $22.4 million.

“As a longtime supporter of the Idaho National Laboratory and Perpetua Resources’ efforts in domestic antimony production, I am thrilled to see this partnership come together,” US House Representative Mike Simpson (R-Idaho) said in a statement.

“Idaho has the potential to provide our country with a domestic source of critical minerals that are essential to our national security needs. This partnership is a win for Idaho, and I am pleased to see our great state once again play such a pivotal role on the world stage.”

Coonambula antimony gold drilling results reveal high grades in Queensland

November 11, 2025

art Mining, in partnership with Great Divide Mining (GDM), has reported the first high-grade antimony gold drilling results from the Coonambula antimony-gold project in Central Queensland, Australia.

The initial analytical results from the former Banshee high-grade antimony mine within the Coonambula project area confirm the high-grade antimony-gold resource, which will help accelerate drilling across the Banshee trend.

Dart Mining is advancing its initial drilling programme at Coonambula using its in-house rig.
................

Australia’s Locksley receives $190M EXIM funding interest for California antimony project

Staff Writer | November 3, 2025 |

Australia’s Locksley Resources (ASX: LKY) has received a letter of interest (LOI) from the US Export-Import Bank (EXIM) for a potential financing of $191 million in support of its antimony project in California.

Locksley’s Mojave project in Inyo County is host to a high-grade antimony prospect with historic samples grading up to 46%. The property is situated next to the only active US rare earths mine — MP Materials’ (NYSE: MP) Mountain Pass.

Antimony is a vital ingredient in many military applications as well as batteries and semiconductors. Currently, the US has no domestic source of antimony production, and therefore relies heavily on imports from China.

With the Mojave project, Locksley has aimed to establish the first domestic mine-to-market supply chain for antimony, addressing a critical gap where 90-95% of the refined supply comes from countries outside the US alliance network.

In August, the Australian explorer engaged Washington DC-based advisory group GreenMet to support the advancement of its project by positioning it within key US government initiatives under the Defense Production Act, Inflation Reduction Act and Department of Energy programs.

‘Cornerstone step’

The potential EXIM financing, says Locksley, is a cornerstone step toward broader US government funding, including programs under the Defense Production Act Title III and Department of War (DOW), reinforcing its strategy to establish a 100% American-made antimony.

“This LOI represents a cornerstone in Locksley’s engagement with US federal agencies and paves the way for detailed due diligence and underwriting to advance a comprehensive financing package for the Mojave project,” Locksley CEO Kerrie Matthews stated in a press release.

Matthews added that the LOI provides a foundation to progress formal financing discussions while advancing the company’s downstream and offtake plans.

“With our 100% American-made antimony ingot now produced, we are demonstrating Locksley’s capacity to deliver the next generation of US critical minerals for supply chains,” she said.

“EXIM’s letter of interest represents more than just financial support. It reflects a coordinated US government directive to rebuild domestic critical minerals capability,” Drew Horn, a former White House advisor on critical minerals and chief executive of GreenMet, said in the statement.

United States Antimony lifts revenue guidance on mining breakthrough

Staff Writer | October 30, 2025

United States Antimony Corporation (NYSE-A: UAMY) has raised its fiscal 2026 revenue guidance by 25% after success with its recent mining activities in Montana.


Earlier this month, USAC announced that it had kicked off exploration and bulk sampling on the former Stibnite Hill antimony mine, which operated for 15 years from the late 1960s to early 80s, following Montana state approval.


In an operational update issued on Thursday, USAC confirmed that the material being mined from Stibnite Hill has grades that are high enough “for a profitable operation without the long lead times and large capital investment.”

The Stibnite Hill mine site is located next to USAC’s Thompson Falls smelter, which it is currently using to process third-party ore into various forms of antimony products as well as precious metals. According to USAC, this facility is one of two smelters in North America — the other being its Madero smelter in Mexico — with a long-standing capacity to process the metal.

In its update, USAC said more than 250 tonnes of antimony ore have been hauled to a flotation mill located near Radersburg, where it will be crushed, sampled and assayed under an independent qualified person under SK-1300 regulations.

It noted that preliminary test work by the company’s metallurgical team indicates that the material can be upgraded to meet military specifications.

Presently, USAC is the only North American company approved as a sole-source supplier of antimony trisulphide to the Defense Logistics Agency meeting military specifications, the company said. Tests to ensure the Stibnite Hill material can be used in the company’s full complement of products, which includes antimony oxides and metals, remain ongoing.

USAC CEO Gary Evans called its recent mining breakthrough in Montana a “game-changer” for the company.

“When we began operations on Stibnite Hill earlier this year, we anticipated finding antimony deposits, but nothing like we are currently experiencing. We currently anticipate that profit margins mining our own antimony material will be approximately three times greater than buying from third parties,” Evans said.

USAC’s share price fell slightly by 0.9%, as a US-China handshake eased concerns over global supply of critical minerals. The Dallas, Texas-headquartered company currently has a market capitalization of $1.15 billion.

First fully integrated operation

USAC said the start of mining in Montana has made it the first company in the world to be fully integrated from mining operations to finished products of antimony.

On its website, it noted that the Thompson Falls smelter can produce approximately 15 million lb. of antimony oxide or 5 million lb. of antimony metal per year. An expansion is currently underway to boost that production capacity.
...........................

United States Antimony kicks off mining operations in Montana

Staff Writer | October 17, 202


Layout of US Antimony’s operations in Montana. Credit: United States Antimony Corp.

United States Antimony Corp. (NYSE-A: UAMY) says it has begun exploration and bulk sampling operations on the former Stibnite Hill mine in Montana, having secured the necessary permits from the Department of Environmental Quality (DEQ).

The Stibnite Hill mine is situated next to USAC’s Thompson Falls smelter, which it uses to process third-party ore into various forms of antimony products as well as precious metals. According to the company, this facility is one of two smelters in North America — both owned by USAC — with a long-standing capacity to process the metal.
........................