Shares of Chinese antimony producers surged by up to 10% on Friday after the Chinese government announced plans to limit exports of antimony, a strategic mineral critical for various military and industrial applications. The new export restrictions will take effect on September 15, as stated by China’s commerce ministry.
China is the world’s leading supplier, accounting for 48% of global mined antimony output last year. This metal is essential for military uses, including ammunition, infrared missiles, nuclear weapons, and night vision goggles, as well as in batteries and photovoltaic equipment.
Following the announcement, shares of Tibet Huayu Mining jumped more than 10%, reaching 12.3 yuan ($1.71), marking a nearly 20% increase for the company in 2024. Other companies, such as Hunan Gold and Guangxi Huaxi Non-Ferrous, also saw their shares rise by over 3%.