Reefton could hold 5 percent of world's supply of antimony

27 May 2024
The small West Coast town of Reefton is sitting on a significant supply of a valuable mineral used in everything from mobile phones to solar panels and electric vehicles.

Siren Gold predicts that the Reefton area, on the West Coast, could have up to 5 percent of the world's supply of antimony.

Antimony is critical to the world’s supply of semi-conductors, solar panels, wind turbines and is becoming very important to the EV and energy storage industries. One of its key properties is as a fire retardant (it can be used to prevent EV batteries from combusting).

The EU, US, China and Australia all recognise antimony as a critical mineral.

Heath Milne, Development West Coast chief executive, said currently over 80% of the world’s supply of antimony comes from China and Russia, “so having another source has significant geopolitical implications, and economic opportunities for the West Coast”.

Siren Gold was in the exploration phase of mining antimony and gold in Reefton, and was hoping to be processing antimony within five years.

Siren Gold managing director Victor Rajasooriar said "[The Reefton source] could end up being 25 percent of what the Western countries are producing, from one place in New Zealand. So it's actually a significant amount."

Other news