Nyrstar produces first antimony at South Australia plant as non-China supply grows

Nyrstar

Nyrstar produces first antimony at South Australia plant, marking a new step for non-China antimony supply. Nyrstar, owned by Trafigura, produced its first antimony metal at the Port Pirie pilot facility. Nyrstar produces first antimony at South Australia plant with exports expected in the first half of next year. Therefore, buyers tracking antimony supply outside China now have a new potential source.

Nyrstar aims to reach 2,000 tonnes per year of antimony output by the end of next year. Meanwhile, the company says the site could reach 5,000 tonnes per year by 2028 with further upgrade investment. The pilot plant relies on Port Pirie’s 160,000 t/yr lead smelter, where antimony emerges as a by-product. As a result, operational stability at the lead circuit will shape antimony availability and quality.

Port Pirie financing links industrial rescue funding and export credit support

Australia provided an $87mn rescue package in August for two smelters, including Port Pirie. The support followed a period of weaker prices and financial pressure on operations. Meanwhile, Export Finance Australia issued a non-binding conditional support letter for the pilot plant. That letter followed the US–Australia critical minerals deal and still depends on commercial terms and due diligence. Therefore, Nyrstar produces first antimony at South Australia plant while it builds a financing bridge to scale.

This structure shows how critical mineral policy is shifting toward existing industrial assets. It also shows how by-product metals can scale faster than greenfield mines. However, the ramp still needs capital discipline and clear product qualification. As a result, pilot performance metrics will matter as much as headline capacity.

Antimony prices stay elevated as new capacity emerges outside China

Antimony prices surged to record levels this year after shortages and China’s export controls tightened supply. Prices reached about $60,400–61,500 per tonne on a Rotterdam basis in June. Meanwhile, prices fell around 31% to $41,000–43,000 per tonne by 18 November. The market expects further easing as more smelting capacity starts outside China. However, prices remain far above the 10-year average of $11,533 per tonne, so supply security still carries a premium.

Nyrstar is also evaluating production of bismuth and tellurium at the site. China added both materials to its export-controlled dual-use list earlier this year. Therefore, Port Pirie could evolve from an antimony pilot into a broader critical metals platform if upgrades proceed.

The Metalnomist Commentary

By-product antimony can scale quickly, but it depends on lead smelter uptime and feed chemistry. Meanwhile, price declines may cool investment appetite, even as security concerns rise. Therefore, Port Pirie’s real value will be reliable tonnes with verified specifications, not peak-nameplate targets.