Larvotto joins antimony ranks as Hillgrove springs back to life
The restart of Hillgrove’s mine in Australia gives Western buyers a major new source of the strategic metal.
Hillgrove mine in Australia is now producing antimony and gold, marking a significant comeback for the operation. The mine, owned by Larvotto Resources (ASX: LRV), is expected to meet around 7% of global antimony demand, providing more than half of the supply outside China. The company aims to produce 4,900 tonnes of antimony and 40,500 ounces of gold each year over an eight-year mine life.
Larvotto Resources managing director Ron Heeks emphasized the importance of securing reliable antimony supply, which has become a priority for governments worldwide. Hillgrove is now Australia's largest antimony producer, second only to Alkane Resources' Costerfield mine in Victoria. Antimony is primarily used in lead hardening for bullets and has military applications in explosives and infrared sensors, while civilian uses include flame retardants and solar panels.
Despite a sharp decline in antimony prices over the past year, Hillgrove has managed to resume production, though prices have since fallen to less than half their peak. The mine, which had produced antimony intermittently for over a century, reached production despite the price retreat. Larvotto's revival of Hillgrove began in mid-2023, when the company acquired the dormant operation for A$8 million.
The transformation took less than three years, with the company's shares rising as the project's revival boosted its valuation.
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