Hunan Gold, a leading antimony producer in China, recorded a notable rise in antimony production during the first six months of 2024, reflecting the company’s response to market demand and internal targets. Formerly known as Hunan Chenzhou Mining, the company ramped up its output amid tightening supply conditions in the Chinese market.
Production Breakdown and Growth
Between January and June, Hunan Gold produced 15,147 tonnes of antimony products, a 6% increase compared to the 14,297 tonnes produced during the same period in 2023. This total includes 3,644 tonnes of antimony metal, 7,293 tonnes of antimony oxides, 2,903 tonnes of sodium antimonate, 1,168 tonnes of ethylene glycol antimony, and 139 tonnes of antimony oxide masterbatch.
Nationwide, China’s antimony metal production also increased to 33,538 tonnes, up from 30,544 tonnes a year earlier. Antimony trioxide production saw a 3% rise to 48,447 tonnes, based on data from the China Nonferrous Metals Industry Association (CNMIA).
Ore Supply Challenges and Price Surge
Despite the increased production, China’s antimony resources have been heavily depleted due to years of overexploitation. Key ore grades at deposits owned by Hunan Gold and Hsikwangshan Twinkling Star have deteriorated, leading to supply shortages. These constraints have driven prices for 99.65% grade antimony metal to a historic high of 163,000-165,000 yuan per tonne ($22,864-$23,144) as of August 22. Additionally, the looming possibility of export controls has encouraged sellers to maintain firm pricing.
In other metals, Hunan Gold reported a slight 3% decrease in gold production, totaling 27 tonnes for the first half of 2024. However, the company achieved a significant 67% increase in tungsten concentrate production, reaching 490 tonnes during the same period.
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