$26,300 antimony price drives historic Hillgrove mine restart in Armidale

Trucks are transporting ore at the Hillgrove mine outside Armidale, New South Wales, for the first time in more than a decade. Larvotto Resources acquired the historic site in 2023 and is officially opening it today with heavy machinery work starting in late August. The mine, previously known for gold production, now focuses on antimony, a metalloid used in fire retardants, solar panels, batteries, and defense manufacturing. Larvotto Resources managing director Ron Heeks stated that antimony prices have more than doubled since the acquisition. He noted the current price is $26,300 per tonne, a significant increase from five years ago. Earlier this year, Australia included antimony in its federal $1.2 billion critical minerals strategic reserve due to concerns over national security and supply shortages, historically dominated by China.