Critical One Energy Shifts Focus to Antimony Exploration

Critical One Energy

Canadian Miner Targets Growing Antimony Demand

Critical One Energy will shift its focus to antimony exploration at its Howells Lake project in Ontario, marking a strategic pivot from uranium. Chief executive Duane Parnham stated the company aims to capitalize on the rapidly increasing demand for the metal, which is essential for military applications, flame retardants, and lead-based alloys used in batteries and cables.

Canada currently produces no antimony, according to the US Geological Survey, making Critical One’s initiative a significant development in domestic supply efforts. The move also underscores a broader trend of companies realigning portfolios toward critical minerals amid global supply chain pressures.

Divestment from Uranium and Royalty Benefits

To finance its antimony-focused strategy, Critical One sold its Khan and Cobra uranium projects in Namibia to Dark Star Minerals. The transaction includes $3.5mn in staged cash payments and Dark Star shares, alongside a 2pc royalty on all metals produced from the Namibian projects.

This divestment allows Critical One to concentrate resources on Howells Lake, positioning itself to become one of Canada’s early movers in antimony exploration. Meanwhile, the royalty arrangement ensures continued financial exposure to Namibia’s uranium sector without operational burdens.

The Metalnomist Commentary

Critical One’s pivot reflects the growing recognition of antimony as a strategic critical mineral with national security and energy transition importance. By prioritizing Howells Lake, the company could play a pivotal role in reducing North America’s dependence on imports. However, success will hinge on exploration outcomes and downstream partnerships that can turn resources into supply chain resilience.