Fairbanks Mining Company Aims to Capitalize on China's Antimony Export Ban

A stibnite specimen is shown. Stibnite is the predominant ore mineral of antimony, according to the United States Geological Survey. An Australian mining company with claims near Fairbanks is looking to capitalize on China banning certain mineral exports to the United States. Felix Gold, a publicly-traded company, is trying to revive antimony production at the Scrafford Mine in the Treasure Creek area about 10 miles north of town.

The mine used to produce the silvery metal, but it’s stayed dormant for decades.“It’s the hottest market for metal. It’s gone from $12,000 at the start of this year. It’s striking over $40,000 a ton at the moment,' said Joseph Webb, Felix Gold’s executive director, speaking during this month’s investor’s call. “This year it just became a crisis point. You’ve got a growing demand, you’ve got China, that control – China and Russia and Bolivia – control over 90% of the supply chain, for antimony, and now banned the export of it,” he said. As a commodity, antimony is framed as a minor metal – not up there with bigshot industrial metals like copper or zinc. But the Department of the Interior does identify it as one of 50 critical minerals. And even before the December ban, antimony had captured the spotlight multiple times this year for being at the center of Manufacturers use antimony for things like military equipment, flame retardants and solar panels, and China dwarfed other countries production of it in 2023, accounting for about half of the global antimonyThe United States hasn’t had any domestic antimony mines since 2001 and has relied on imports since the 1990s, when the Stibnite Gold Mine in Idaho stopped production.the drop off in U.S. production of antimony started years earlier, in the 1970s. That’s because regulations for mining the metal were strengthened due to environmental and healthBut in conjunction with China now ceasing antimony exports to the U.

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