A recent warning from JP Morgan CEO Jamie Dimon has highlighted the urgency of accessing critical metals, particularly antimony, which serves as a fuel for America’s military production line. With China controlling nearly 50% of the global antimony supply and cutting off exports to the US, the Western world is now turning its attention to companies like Military Metals Corp.
Antimony is a key element in communication equipment, night vision goggles, explosives, ammunition, nuclear weapons, submarines, warships, optics, laser sighting, and more. However, China’s dominance over antimony production has left the US Army desperate for this essential metal. In September, China cut off antimony exports to the US, further exacerbating the crisis.
Military Metals Corp., a junior miner with a recent string of strategic acquisitions, is now poised to play a critical role in increasing global antimony supply. The company has purchased one of Europe’s largest antimony deposits in Slovakia and plans to develop it, potentially chipping away at China’s control over this “military metal.”
The US Army relies on large amounts of antimony for fireproofing compounds, batteries, ammunition, electronics, specialty glass, and other products. With the trade war between the US and China escalating, the demand for antimony is expected to surge. Military Metals Corp.’s acquisition binge has taken it to EU-member Slovakia, Nova Scotia in Canada, and most recently, the US.
As the US Army seeks new sources of antimony, companies like Military Metals Corp. are helping to tell the American story of accessing critical metals reserves. With China’s grip on global supply weakening, the Western world may finally have a chance to regain its footing in the global energy landscape.
Source: https://www.theglobeandmail.com/investing/markets/stocks/BA/pressreleases/29653526/global-antimony-shortage-is-a-ticking-time-bomb-for-the-us-military