Military Metals (CSE:MILI) says China banning exports of gallium, germanium, and antimony to the US underscores the urgent need for Western nations to secure reliable long-term sources of these essential materials.
The British Columbia-based explorer recently acquired antimony projects in Slovakia, Nova Scotia, and Nevada.
Military Metals is working closely with government bodies and industry partners to ensure Western nations remain resilient and self-sufficient after China banned the exports of gallium, germanium, and antimony.
CEO Scott Eldridge says China’s ban reinforces the importance of the company’s mission to secure a sustainable, independent future supply chain for critical minerals.
“The West can no longer afford to rely on adversarial nations for resources essential to our security and economic stability,” Eldridge says.
“We are taking proactive steps to meet this growing demand with future domestic and allied sources of antimony.”
China’s ban, coupled with existing restrictions that came into effect 15 September 2024, has sent antimony prices soaring by more than 228% this year. According to S&P Global, the price of antimony doubled in July, hitting $22,750 per tonne (ingots 99.65% FOB) by 6 August. By 15 November the price rose to about $25,000.
As a result of China’s ban, Western nations are facing pressure to address its reliance on China for strategic resources critical to national defense and technological innovation.
Antimony is a critical component for battery technology, advanced military systems, and other industrial applications. It is recognised and classified as a critical mineral by the US, European Union, and other leading economies.
Military Metals is a North American explorer primarily engaged in the acquisition, exploration, and development of mineral properties with a focus on antimony.
Write to Aaliyah Rogan at Mining.com.au
Images: Military Metals
