Hunan Gold Reports Surge in Antimony Production in Early 2024

Production Analysis and Expansion

Hunan Gold, a major antimony producer in China, has announced a substantial increase in its antimony output during the first half of 2024, driven by strong market demand. Formerly Hunan Chenzhou Mining, the company ramped up production in response to tightening supply conditions.

From January to June, Hunan Gold produced 15,147 tonnes of antimony products, a 6% increase from 14,297 tonnes in the same period last year. This total includes 3,644 tonnes of antimony metal and 7,293 tonnes of antimony oxides.

Nationally, China’s antimony metal production rose to 33,538 tonnes, compared to 30,544 tonnes in 2023, while antimony trioxide production increased by 3% to 48,447 tonnes, according to the China Nonferrous Metals Industry Association (CNMIA).

Supply Challenges and Price Surge

Despite this growth, China faces significant resource depletion due to overexploitation. Key ore grades at Hunan Gold’s deposits have deteriorated, leading to supply shortages and pushing 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. The possibility of export controls is also keeping prices elevated.

Additionally, Hunan Gold reported a slight 3% decline in gold production, totaling 27 tonnes, but achieved a remarkable 67% increase in tungsten concentrate production, reaching 490 tonnes.