Hunan Gold Reports Higher Antimony Output in First Half of 2024

Hunan Gold

Hunan Gold, one of China’s largest antimony producers, has posted higher antimony production in the first half of 2024, aligning with its increased production targets. Formerly known as Hunan Chenzhou Mining, the company achieved a 6% year-on-year increase in antimony output, reflecting the firm's efforts to meet growing demand amidst supply challenges in China.

Production Breakdown

From January to June, Hunan Gold produced 15,147 tonnes of antimony products, compared to 14,297 tonnes during the same period in 2023. The breakdown 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.

China’s total antimony metal output for the same period was 33,538 tonnes, up from 30,544 tonnes a year earlier, while antimony trioxide production rose by 3%, reaching 48,447 tonnes, according to data from the China Nonferrous Metals Industry Association (CNMIA).

Challenges in Ore Supply

China’s antimony resources have been facing depletion after years of overexploitation. This has resulted in declining ore grades at key deposits owned by Hunan Gold and Hsikwangshan Twinkling Star. The ore shortages have driven prices for 99.65% grade antimony metal to historic highs, with prices reaching 163,000-165,000 yuan per tonne ($22,864-$23,144) as of August 22. Looming export controls have further fueled strong market prices, as sellers hold firm.

Hunan Gold also reported mixed results in the production of other metals during the first half of the year. The company produced 27 tonnes of gold, down 3% year-on-year, but significantly increased its tungsten concentrate output by 67%, producing 490 tonnes.