Straits Resources to Start Major Antimony Mining Operation

A major antimony mine, which represents around 10% of the world output, starts operation soon in Southeast Australia. Straits Resources completes around A$ 30 million development for Hillgrove mine and processing plants in March starting commercial operation. The firm pumps up the operation to full capacity as early as middle of 2008. The firm controls 100% of Hillgrove mine in New South Wales to produce gold, antimony and tungsten. According to sources, the firm already stocks 45,000 tonnes of ore and soon starts operation. The firm produces 250,000 tonnes of ore at first stage. The antimony production is planned to reach annualized 10,000 tonnes by July-September. The firm produces 20,000 ounces of gold and 300 tonnes of tungsten concentrates. The firm plans to expand the output to annual 20,000 tonnes for antimony in 3-5 years. China represents around 80% of around 100,000 tonnes of annual antimony output in the world. Hillgrove will provide 10% additional supply. Japanese buyers expect the alternative source could contribute to stabilize the tight supply market.