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China will impose export limits on antimony and related elements in the name of national security, its commerce ministry said on Thursday, Beijing’s latest move to restrict shipments ofChina accounted last year for 48% of global mined output of antimony, a strategic metal used in military applications such as ammunition, infrared missiles, nuclear weapons and night vision goggles, as well as in batteries and photovoltaic equipment.
“It’s a sign of the times,” said Christopher Ecclestone, a principal and mining strategist at Hallgarten & Company in London. The rules also ban the export of gold antimony smelting and separation technology without permission. In an April research note, analysts at China Securities said increasing demand for arms and ammunition due to wars and geopolitical tensions was likely to see tightening control and stockpiling of antimony ore.In December, China banned the export of technology to make rare earth magnets, which came on top of a ban already in place on exporting technology to extract and separate the critical materials.
That has helped push up the share prices of Chinese producers including Hunan Gold, Tibet Huayu Mining and Guangxi Huaxi Non-Ferrous by between 66% and 93% so far in 2024.
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