Great Divide Mining is among the Australian exploration companies eyeing opportunities in antimony after news of China’s impending export ban on the critical mineral.

Drilling at the Banshee prospect, within Queensland’s Coonambula project, has revealed grades of up to 5.1 per cent antimony together with 1.5 per cent gold, according to chief executive officer Justin Haines.

Used in solar panels, military equipment and munitions, and as a fire retardant, antimony was already in short supply at the beginning of 2024 and trading at $US22,000 tonne.

The prices are expected to climb after the world’s largest producer, China, announced export bans on antimony from September 15.

Mr Haines said Great Divide’s Banshee project lay within the historical Hungry Hill workings, first mined in 1876, then in 1907, 1928, 1953 and 1955.

“The mine re-opened in 1983 when 20 tonnes of ore was mined containing four tons of antimony,” he said.

“An initial exploration program by Queensland Ores in 2013 included geochemical sampling, gravity survey, IP survey and drilling. A further drilling program followed in 2014.

“Current indicated strike length is 650m varying in depths from 1.25m to 77m, which bodes well for progressive mining able to derive positive cashflows early.

“Rock chip samples collected at Banshee have returned assays of up to 44.9 per cent antimony, 0.97 ppm gold and 140 ppm silver.

“At GDM we have always taken the position of dig once and invoice twice. Proximity to Gympie is handy. Gold together with antimony works for us.”

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