News
3 April 2025
The global antimony market has undergone a dramatic transformation.
America’s Antimony Crisis and the Felix Gold Opportunity
The global antimony market has undergone a dramatic transformation. Prices have surged from approximately US$10,000 per tonne in January 2024 to over US$60,000 in March 2025, creating both a crisis and an opportunity.
Why is this happening? With China’s complete export ban enacted in December 2024, this has severed access to the world’s largest antimony source, creating immediate global supply disruptions and threatening U.S. defense industrial capabilities.
China, Russia and Tajikistan dominate the world’s antimony upstream supply chain, accounting for more than 87% of global mine production as of 2025. Depleting munitions stockpiles from conflicts in Ukraine, Gaza, and elsewhere are straining defense supply chains.
The U.S. has zero domestic primary production despite an 85% import dependence, creating a perfect storm for an urgent national security imperative for domestic antimony production.
Felix Gold’s Treasure Creek: The Premier U.S. Antimony Asset
When evaluating antimony deposits, the grade-thickness metric (% antimony × meters of intercept) provides the best early indicator of economic potential. Treasure Creek’s exceptional near-surface intercepts include 3m @ 50.26% Sb (150.8% grade-meters) and peaks of 65.4% Sb, all at depths of less than 50 meters.
These strong grade-thickness values have placed Treasure Creek at the top of global rankings. Data analysis from S&P Global reveals that 9 of the top 10 antimony drill intercepts in the entire United States belong to Felix Gold. Additionally, 5 of the top 7 antimony intercepts globally are at Treasure Creek.
FXG as 9 of the top 10 US antimony intercepts (Source: MDF Global)
For perspective, the highest non-Felix Gold intercept in the U.S. has a grade approximately 39 times lower than Treasure Creek’s best results.
This isn’t just impressive – it could be the complete dominance of the U.S. antimony landscape, especially considering most of Treasure Creek’s mineralisation starts near surface, maximising potential for efficient, low-cost development.
‘Beyond Exploration: Near-Term Production Potential
Treasure Creek is uniquely positioned for rapid advancement. As a brownfield site with historical production dating back to World Wars I and II, it has previously supplied the U.S. government during critical wartime shortages.
Felix Gold is targeting production by end-2025 – potentially becoming America’s first domestic antimony source.
Strategic Significance During Supply Chain Crisis
Antimony is essential for a number of defense applications, such as ammunition primers, night vision goggles, infrared sensors and nuclear weapons. It is also critical in the use in manufacturing, the energy transition, and electronics, with over 1,000 patents in the last decade within the electronic industry utilising antimony.
The U.S. Department of Defense has identified antimony as one of the most critical material shortfalls in its stockpile requirements, with the Department attempting to acquire approximately 1,100 metric tonnes annually.
Antimony Prices from January 2024 to March 2025 (Source: Carbon Credits)
Government Support Tailwinds
Recent policy changes strongly support Felix Gold’s Treasure Creek project, including Executive Order 14241 (“Immediate Action to Facilitate Domestic Mineral Production,” March 2025) and the Strategic and Critical Materials Stockpiling Act, which authorises the acquisition of antimony.
Additionally, Alaska’s strategic location enhances its importance for both mining and geopolitical positioning.
Reach Markets have been engaged by MDF Global Limited to provide Corporate Advisory Services, including managing investor communications for Felix Gold Ltd and may receive fees for its services.
Past performance is not a reliable indicator of future performance.
