Antimony is vital for many industries, including batteries, solar panels, flame retardants, and ammunition. Antimony sulfide, or Stibnite, is the principal ore of antimony and is mainly used in all these sectors. The U.S. depends almost entirely on imports, mainly from China, to meet its needs.
Countries with the largest reserves of antimony worldwide as of 2023 (in metric tons)

Let’s examine the demand and supply trends for antimony and their impact on prices this year.
What’s Driving Antimony Demand?
Antimony’s demand has risen due to increasing industrial use and China’s dominance in production. The silver white metal is crucial in solar panels. It makes perovskite solar cells work better by helping them absorb more light and convert energy more effectively. It also enhances thermal stability, helping panels endure extreme conditions.
In energy storage, liquid-metal batteries use antimony to store and distribute excess solar power. As solar installations grow, antimony’s role in the energy transition will expand.
The U.S. Department of Defense (DoD) uses antimony in more than 200 types of ammunition. This includes percussion primers and armor-piercing rounds.
Some key uses of antimony include:
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Antimony alloys improve the durability of lead-acid batteries in military vehicles.
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Its flame-retardant properties enhance the fire resistance of military uniforms and equipment.
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It is used in semiconductors for infrared sensors and night-vision devices. These are crucial for defense technology.

However, despite demand from various industries, there’s a global supply crisis of this critical metal.
- SEE MORE: Unlocking the Power of Critical Minerals with US DOE’s $45 Million Investment: A Focus on Antimony
A Looming Global Antimony Supply Shortage
According to the U.S. Geological Survey (USGS),
- In 2023, the total global antimony mine production was approximately 83,000 tons. China produced around 40,000 tons, accounting for 48% of the global supply.
China’s Supply Shrinks
China is the biggest antimony producer, but its output has dropped sharply. 2023’s output as a decrease from 60,000 tons (55% share) in 2022. The decline is mainly due to mine closures and stricter environmental rules.
Hunan, a major antimony-producing province, halted production from March to June. This pause was for environmental inspections. Further industrial accidents in Hunan and Guizhou disrupted mining early in 2023. Consequently, China’s declining output has significantly contributed to the current global supply shortage.
Moreover, China is tightening its grip on antimony exports to secure its position in global supply chains. This comes after the U.S. imposed restrictions on critical technologies like advanced chips. China has employed a similar strategy with germanium, gallium, graphite, and rare earths.
The U.S. Relies Heavily on Imports
The U.S. has antimony deposits in states like Idaho, Montana, Utah, Arizona, and Alaska. However, environmental and economic issues have slowed domestic production. The Stibnite Gold Mine in Idaho was the largest antimony producer but shut down in the mid-1990s. Efforts to restart it are uncertain due to environmental concerns, especially river pollution risks.
By 2020, the U.S. had completely stopped mining antimony. Instead, it relied on recycling, mainly from lead-acid batteries. A facility in Montana processed imported material, but recycled sources only met 18% of the demand. The rest came from imports. In 2023, no sellable antimony was mined in the U.S., according to the University of Technology Sydney (UTS).
Recent reports show that Military Metals acquired the Last Chance property on February 19, 2025. This highlights the urgent need to secure antimony for defense. The rising demand, along with supply issues, has led to a significant price surge.

Russia’s Production Faces Uncertainty
Russia is another key antimony producer contributing to the supply crunch. USGS estimates that Russia held 17.5% of global antimony reserves in 2023, totaling 350,000 tons. However, actual production was much lower, at just 4,300 tons.
The Minor Metals Trade Association (MMTA) highlighted that most of Russia’s antimony is a byproduct of gold mining. Polyus, the largest gold producer in Russia, reported 27,075 tonnes of antimony output in flotation concentrate. However, Western sanctions after Russia’s 2022 invasion of Ukraine have made trading with Russian suppliers more difficult, further tightening global supply.
Political Instability Disrupts Myanmar’s Output
Myanmar, the fourth-largest antimony producer in 2023, also faced supply disruptions due to political turmoil. The country accounted for about 5% of global antimony production, according to USGS.
Here’s a comparative chart of 2022 Vs 2023 antimony producers across the world:
Global Antimony Production

Market Growth Trends
- Research and Markets revealed that the global demand for antimony is projected to grow from $2.5 billion in 2024 to $3.5 billion by 2030, at a CAGR of 6.2%,
Additionally, the U.S. antimony market is expected to expand significantly, reaching an estimated value of USD 106.57 million by 2032. This growth primarily be driven by the rising demand for OSHA-regulated flame-retardant clothing. Other demand drivers like lead-acid batteries, electronics and plastics, etc. will also push future demand of antimony.

Regional Market Overview
According to a Fortune Business Insights study,
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Asia-Pacific leads with a 64.36% market share in 2023. This trend will keep going. The automotive and electronics sectors are growing. This increases the demand for antimony flame retardants and alloys. China will remain the top producer.

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North America and Europe together account for over 40% of global antimony demand, mainly in automotive and plastics. Europe produces antimony oxide but relies on imports from China and India. The rising need for lead-acid batteries is boosting growth in this region. North America has a strong demand for flame retardants. This is because of strict workplace safety rules.
The Future of Antimony Supply
Australia is becoming a key player in the antimony market. Larvotto Resources, which runs the Hillgrove Gold-Antimony Project, has seen its share price rise. Additionally, the U.S. is working with resource-rich countries such as Australia, which could potentially close the supply gap. This partnership also aims to reduce reliance on China for critical minerals.
Earlier CarbonCredits reported that it’s not just the U.S. but countries worldwide are taking steps to reduce their reliance on Chinese antimony.
Over two years, global antimony drilling activity totaled 625 holes, with 88 yielding significant intervals. Australia dominated with 444 holes, including 65 significant finds, reflecting its active exploration sector. The USA followed with 44 holes and 10 significant intervals. 
Other contributions came from Canada, Bolivia, New Zealand, and Namibia. Emerging interest in regions like Bosnia, Indonesia, and Slovakia highlights a global push to secure antimony resources, driven by rising demand in energy and defense sectors.
In the U.S., the Department of Defense awarded $15.5 million to Perpetua Resources to explore antimony production from the Stibnite Gold Project in Idaho.
Similarly, Spearmint Resources in Canada has doubled its acreage at the George Lake South Antimony Project, recognizing the mineral’s strategic value.
Additionally, antimony can be sourced through recycling. Reusing antimony from industrial waste and other sources may help create a more stable supply in the long term.
As demand from renewable energy and defense sectors rises, securing a steady supply of this crucial mineral will become extremely vital.
Tajikistan: The Rising Star
With supply dwindling in China, Russia, and Myanmar, Tajikistan is emerging as the world’s second-largest antimony producer.
- In 2023, it produced 21,000 tonnes, covering 26% of the global supply, according to USGS.
A significant mine in Tajikistan, owned by a U.S. company, is now Europe’s largest supplier of antimony metal. Talco Gold, a joint venture of Tajik Aluminium Co and China’s Tibet Huayu Mining, has boosted production too. Talco Gold’s processing plant opened in April 2022. However, it faced delays from the COVID-19 pandemic.
The impressive output shows Tajikistan potential to boost production volumes and sort supply challenges of antimony in the near future.
Antimony Prices Rally: Where Do They Stand in 2025?
Antimony prices have surged since April 2024 due to a severe supply shortage. According to Fastmarkets, prices in Rotterdam rose at their fastest rate in over 40 years. In May, the Shanghai Metals Exchange reported prices reaching $17,588 per metric ton, a 54% increase in 2024.
By June 14, prices in Europe climbed to $22,700 per ton, a rise of more than 75% from 2023.

The surge comes from a supply shortage in China, Russia, and Southeast Asia. At the same time, demand is rising in the solar sector, fire retardants, and military uses.
Recent posts on X show that the shortage is still affecting availability. Prices have reached $51,500 per ton in 2025. Some market speculation suggests that prices could reach $100,000 per ton.

This price rally was confirmed by Military Metals Corp’s CEO, Scott Eldridge, who said,
“The antimony spot price has yet again achieved a new all-time high, now trading at $51,500 USD per ton. Antimony investment opportunities are limited to mining equities with no ETF or futures contracts available to investors, furthermore the mining equities are limited to a few high-caliber companies.”
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The post The Future of Antimony: Rising Prices, Supply Chain Risks, and Demand Growth appeared first on Carbon Credits.
Carbon Footprint
Climate Impact Partners Unveils High-Quality Carbon Credits from Sabah Rainforest in Malaysia
The voluntary carbon market is changing. Buyers are no longer focused only on large volumes of cheap credits. Instead, they want projects with strong science, long-term monitoring, and clear proof that carbon has truly been removed from the atmosphere. That shift is drawing more attention to high-integrity, nature-based projects.
One project now gaining that spotlight is the Sabah INFAPRO rainforest rehabilitation project in Malaysia. Climate Impact Partners announced that the project is now issuing verified carbon removal credits, opening access to one of the highest-quality nature-based removals currently available in the global market.
Restoring One of the World’s Richest Rainforest Ecosystems
The project is located in Sabah, Malaysia, on the island of Borneo. This region is home to tropical dipterocarp rainforest, one of the richest forest ecosystems on Earth. These forests store huge amounts of carbon and support extraordinary biodiversity. Some dipterocarp trees can grow up to 70 meters tall, creating habitat for orangutans, pygmy elephants, gibbons, sun bears, and the critically endangered Sumatran rhino.
However, the forest within the INFAPRO project area was not intact. In the 1980s, selective logging removed many of the most valuable tree species, especially large dipterocarps. That caused serious ecological damage. Once the key mother trees were gone, natural regeneration became much harder. Young seedlings also had to compete with dense vines and shrubs, which slowed the forest’s recovery.
To repair that damage, the INFAPRO project was launched in the Ulu-Segama forestry management unit in eastern Sabah.
- The project has restored more than 25,000 hectares of logged-over rainforest.
- It was developed by Face the Future in cooperation with Yayasan Sabah, while Climate Impact Partners has supported the project and helped bring its credits to market.
Why Sabah’s Carbon Removals are Attracting Attention
What makes Sabah INFAPRO different is not only the size of the restoration effort. It is also the way the project measured carbon gains.

Many forest carbon projects issue credits in annual vintages based on year-by-year growth estimates. Sabah INFAPRO followed a different path. It used a landscape-scale monitoring system and waited until the forest moved through its strongest natural growth period before issuing removal credits.
- This approach gives the credits more weight. Rather than relying mainly on short-term annual estimates, the project measured carbon sequestration over a longer period. That helps show that the forest delivered real, sustained, and measurable carbon removal.
The scientific backing is also unusually strong. Since 2007, the project has maintained nearly 400 permanent monitoring plots. These plots have allowed researchers, independent auditors, and technical specialists to observe the full growth cycle of dipterocarp forest recovery. The result is a large body of field data that supports carbon calculations and strengthens confidence in the credits.
In simple terms, buyers are not just being asked to trust a model. They are being shown years of direct forest monitoring across the project landscape.
Strong Ratings Support Market Confidence
Independent assessment has also lifted the project’s profile. BeZero awarded Sabah INFAPRO an A.pre overall rating and an AA score for permanence. That places the project among the highest-rated Improved Forest Management, or IFM, projects in the world.
The rating reflects several important strengths. First, the project has very low exposure to reversal risk. Second, it has a long and stable operating history. Third, its measured carbon gains align well with peer-reviewed ecological research and independent analysis.
These points matter in today’s market. Buyers have become more cautious after years of debate over the quality of some forest carbon credits. As a result, they now look more closely at durability, transparency, and third-party validation. Sabah INFAPRO’s rating helps answer those concerns and makes the project more attractive to companies looking for credible carbon removal.
The project is also registered with Verra’s Verified Carbon Standard under the name INFAPRO Rehabilitation of Logged-over Dipterocarp Forest in Sabah, Malaysia. That adds another level of market recognition and verification.
A Wider Model for Rainforest Recovery
Sabah INFAPRO also shows why high-quality nature-based projects are about more than carbon alone. The restoration effort supports broader ecological recovery in one of the world’s most important rainforest regions.
Climate Impact Partners said it has worked with project partners to restore degraded areas, run local training programs, carry out monthly forest patrols, and distribute seedlings to support rainforest recovery beyond the project boundary. These efforts help strengthen the wider landscape and expand the project’s environmental impact.
That broader value is becoming more important for buyers. Companies increasingly want projects that support biodiversity, ecosystem health, and local engagement, along with carbon removal. Sabah INFAPRO offers that mix, making it a stronger fit for the market’s shift toward higher-integrity credits.

The post Climate Impact Partners Unveils High-Quality Carbon Credits from Sabah Rainforest in Malaysia appeared first on Carbon Credits.
Carbon Footprint
Bitcoin Falls as Energy Prices Rise: Why Crypto Is Now an Energy Market Story
Bitcoin’s recent drop below $70,000 reflects more than short-term market pressure. It signals a deeper shift. The world’s largest cryptocurrency is becoming increasingly tied to global energy markets.
For years, Bitcoin has moved mainly on investor sentiment, adoption trends, and regulation. Today, another force is shaping its direction: the cost of energy.
As oil prices rise and electricity markets tighten, Bitcoin is starting to behave less like a tech asset and more like an energy-dependent system. This shift is changing how investors, analysts, and policymakers understand crypto.
A Global Power Consumer: Inside Bitcoin’s Energy Use
Bitcoin depends on mining, a process that uses powerful computers to verify transactions. These machines run continuously and consume large amounts of electricity.
Data from the U.S. Energy Information Administration shows Bitcoin mining used between 67 and 240 terawatt-hours (TWh) of electricity in 2023, with a midpoint estimate of about 120 TWh.

Other estimates place consumption closer to 170 TWh per year in 2025. This accounts for roughly 0.5% of global electricity demand. Recently, as of February 2026, estimates see Bitcoin’s energy use reaching over 200 TWh per year.
That level of energy use is significant. Global electricity demand reached about 27,400 TWh in 2023. Bitcoin’s share may seem small, but it is comparable to the power use of mid-sized countries.
The network also requires steady power. Estimates suggest it draws around 10 gigawatts continuously, similar to several large power plants operating at full capacity. This constant demand makes energy costs central to Bitcoin’s economics.
When Oil Rises, Bitcoin Falls
Bitcoin mining is highly sensitive to electricity prices. Energy is the highest operating cost for miners. When power becomes more expensive, profit margins shrink.
Recent market movements show this link clearly. As oil prices rise and inflation concerns persist, energy costs have increased. At the same time, Bitcoin prices have weakened, falling below the $70,000 level.

This is not a coincidence. Studies show a direct relationship between Bitcoin prices, mining activity, and electricity use. When Bitcoin prices rise, more miners join the network, increasing energy demand. When energy costs rise, less efficient miners may shut down, reducing activity and adding selling pressure.
This creates a feedback loop between crypto and energy markets. Bitcoin is no longer driven only by demand and speculation. It is now influenced by the same forces that affect oil, gas, and power prices.
Cleaner Energy Use Is Growing, but Fossil Fuels Still Matter
Bitcoin’s environmental impact depends on its energy mix. This mix is improving, but it remains uneven.
A 2025 study from the Cambridge Centre for Alternative Finance found that 52.4% of Bitcoin mining now uses sustainable energy. This includes both renewable sources (42.6%) and nuclear power (9.8%). The share has risen significantly from about 37.6% in 2022.
Despite this progress, fossil fuels still account for a large portion of mining energy. Natural gas alone makes up about 38.2%, while coal continues to contribute a smaller share.

This reliance on fossil fuels keeps emissions high. Current estimates suggest Bitcoin produces more than 114 million tons of carbon dioxide each year. That puts it in line with emissions from some industrial sectors.
The shift toward cleaner energy is real, but it is not complete. The pace of change will play a key role in how Bitcoin fits into global climate goals.
Bitcoin’s Climate Debate Intensifies
Bitcoin’s growing energy demand has placed it at the center of ESG discussions. Its impact is often measured through three key areas:
- Total electricity use, which rivals that of entire countries.
- Carbon emissions are estimated at over 100 million tons of CO₂ annually.
- Energy intensity, with a single transaction using large amounts of power.

At the same time, the industry is evolving. Mining companies are adopting more efficient hardware and exploring new energy sources. Some operations use excess renewable power or capture waste energy, such as flare gas from oil fields.
These efforts show progress, but they do not fully address the concerns. The gap between Bitcoin’s energy use and its environmental impact remains a key issue for investors and regulators.
- MUST READ: Bitcoin Price Hits All-Time High Above $126K: ETFs, Market Drivers, and the Future of Digital Gold
Bitcoin Is Becoming Part of the Energy System
Bitcoin mining is now closely integrated with the broader energy system. Operators often choose locations based on access to cheap or excess electricity. This includes areas with strong renewable generation or underused energy resources.
This integration creates both opportunities and challenges. On one hand, mining can support energy systems by using power that might otherwise go to waste. It can also provide flexible demand that helps stabilize grids.
On the other hand, it can increase pressure on local electricity supplies and extend the use of fossil fuels if cleaner options are not available.
In the United States, Bitcoin mining could account for up to 2.3% of total electricity demand in certain scenarios. This highlights how quickly the sector is scaling and how closely it is tied to national energy systems.
Energy Markets Are Now Key to Bitcoin’s Future
Looking ahead, the connection between Bitcoin and energy is expected to grow stronger. The network’s computing power, or hash rate, continues to reach new highs, which typically leads to higher energy use.
Electricity will remain the main cost for miners. This means Bitcoin will continue to respond to changes in energy prices and supply conditions. At the same time, governments are starting to pay closer attention to crypto’s environmental impact, which could shape future regulations.

Some forecasts suggest Bitcoin’s energy use could rise sharply if adoption increases, potentially reaching up to 400 TWh in extreme scenarios. However, cleaner energy systems could reduce the carbon impact over time.
Bitcoin is no longer just a financial asset. It is also a large-scale energy consumer and a growing part of the global power system.
As a result, understanding Bitcoin now requires a broader view. Energy prices, electricity markets, and carbon trends are becoming just as important as market demand and investor sentiment.
The message is clear. As energy markets move, Bitcoin is likely to move with them.
The post Bitcoin Falls as Energy Prices Rise: Why Crypto Is Now an Energy Market Story appeared first on Carbon Credits.
Carbon Footprint
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