The restrictions are being imposed “so as to safeguard nationwide safety and pursuits, and fulfill worldwide obligations similar to non-proliferation”, the ministry mentioned in an announcement.
At a daily weekly briefing on Thursday, the ministry mentioned the curbs weren’t directed at any particular nation or area.
“It’s an indication of the occasions,” mentioned Christopher Ecclestone, a principal and mining strategist at Hallgarten & Firm in London.
“The navy makes use of of Sb (antimony) are actually the tail that wags the canine. Everybody wants it for armaments so it’s higher to hold onto it than promote it,” he mentioned. “This can put an actual squeeze on the US and European militaries.”
The bounds, efficient from Sept. 15, apply to 6 sorts of antimony-related merchandise, together with antimony ore, antimony metals and antimony oxide, the ministry mentioned in an announcement.
The foundations additionally ban the export of gold-antimony smelting and separation know-how with out permission.
Twin use
Exporters of affected merchandise should apply for export licenses for dual-use objects and applied sciences – these with potential navy in addition to civil purposes – it mentioned.
The US and different international locations are scrambling to ease their reliance on China for key supplies, setting out insurance policies and assist packages for his or her crucial minerals sectors, together with uncommon earths.
In an April analysis word, analysts at China Securities mentioned growing demand for arms and ammunition as a result of wars and geopolitical tensions was prone to see tightening management and stockpiling of antimony ore.
Perpetua Sources, which is constructing a US antimony and gold venture with assist from the Pentagon and the US Export-Import Financial institution, had initially deliberate to start manufacturing by 2028, ought to it get hold of closing permits this yr. However China’s strikes meant the corporate is finding out methods to supply antimony quicker.
“We’re issues that we will do throughout building to get antimony out the door sooner for a few of these strategic wants,” Jon Cherry, Perpetua’s CEO, informed Reuters.
“The (US) Division of Protection is conscious of the crucial nature of antimony and the quick provide out there. We’ve been listening to from numerous completely different sources in regards to the lack of provide for antimony, that the market could be very tight and getting tighter day by day.”
Shares of Perpetua jumped as a lot as 19% on Thursday to ranges not seen in three years.
Widening curbs
China’s newest curbs comply with a wave of such restrictions launched since final yr.
In December, China banned the export of know-how to make uncommon earth magnets, which got here on high of a ban already in place on exporting know-how to extract and separate the crucial supplies.
Beijing has additionally tightened exports of some graphite merchandise, and imposed restrictions on exports of gallium and germanium merchandise extensively used within the semiconductor business.
Costs of antimony surged to file highs this yr, fueled by tight provide and rising demand, particularly from the photovoltaic sector, the place the metallic is used to enhance the efficiency of photo voltaic cells.
That has helped push up the share costs of Chinese language producers together with Hunan Gold, Tibet Huayu Mining and Guangxi Huaxi Non-Ferrous by between 66% and 93% up to now in 2024.
One antimony producer in Hunan province mentioned they have been ready to see the outcomes of the most recent transfer, however added: “We consider within the quick time period costs must be supported by a wave of rush stockpiling from abroad consumers.” They declined to be recognized as they weren’t licensed to talk to the media.
Whereas China is the most important provider of refined antimony, it’s a web importer of concentrates and relies on ore from international locations together with Thailand, Myanmar and Russia, customs information confirmed. Imports from Russia have fallen sharply this yr.
“An absence of focus feedstock stays the important thing function of the antimony market at current,” mentioned Jack Bedder, co-founder of consultancy Mission Blue.
(By Qiaoyi Li, Amy Lv, Siyi Liu, Bernard Orr, Polina Devitt, Seher Dareen and Ernest Scheyder; Enhancing by Christina Fincher, Tony Munroe and Jan Harvey)