Port Pirie antimony production marks a new non-China supply route

Nyrstar

Port Pirie antimony production has moved from plan to reality as Nyrstar produced its first antimony metal at a pilot facility in South Australia. The milestone puts a traded, defence-relevant minor metal into a Western processing pipeline. Therefore, Port Pirie antimony production gives buyers a new option as export controls reshape critical mineral trade.

Port Pirie antimony production will now shift toward commercial exports in the first half of next year. Trafigura owns Nyrstar, which positions the project to connect quickly with global offtakers. However, the ramp-up still depends on capital discipline and stable plant performance.

Pilot output targets 2,000 t/y and a 5,000 t/y pathway

Port Pirie antimony production targets 2,000 tonnes per year by the end of next year. Nyrstar also flagged capacity to reach 5,000 tonnes per year by 2028 if it secures additional upgrade investment. As a result, the pilot phase works as both a technical proof and a funding catalyst for scale.

The pilot operation depends on Port Pirie’s 160,000 t/y lead smelter, where antimony arises as a by-product stream. That integration can lower unit costs versus greenfield builds. Meanwhile, Nyrstar is also assessing bismuth and tellurium output, which can add strategic value for electronics and defence supply chains.

Price volatility and government backing shape the economics

Port Pirie antimony production arrives after a sharp price spike driven by shortages and China’s export controls. Prices later fell from record highs, yet they remain far above long-run averages. Therefore, non-China capacity can still clear a high incentive bar, even as the market cools.

Australia’s policy support also matters for timing and bankability. Government assistance supported smelter stability after a price-driven downturn, and Export Finance Australia issued a conditional support letter for the pilot plant tied to a wider US-Australia critical minerals framework. However, the financing remains non-binding and depends on commercial terms and due diligence.

The Metalnomist Commentary

Port Pirie antimony production will not end China’s leverage, but it improves redundancy in a tight market. Meanwhile, the by-product model can scale faster than standalone mines and refineries. Therefore, buyers should watch qualification timelines and product specs as exports begin.