Global Shifts in Strategic Metals: Nyrstar’s Role in a Changing Landscape

The global supply chain for critical minerals is undergoing a seismic shift. A key catalyst has been China’s decision to impose export controls on antimony—an essential metal used in defense, electronics, and optics—which has prompted Western economies to seek alternative sources. One such potential source is South Australia, where Nyrstar, owned by global commodities trader Trafigura, is considering launching antimony production at its existing processing facility in Port Pirie.

According to Matt Howell, CEO of Nyrstar Australia, the company could produce up to 5,000 tonnes of metallic antimony or antimony trioxide annually, but this would require government support. The initiative is part of a broader strategic review of Nyrstar’s Australian operations by Trafigura and aims to enhance domestic processing capabilities by introducing an additional refining stage post-lead smelting.

What’s Driving the Renewed Interest in Antimony

The global antimony market has been rattled by China’s policy moves. With more than 70% of global supply previously sourced from Chinese exporters, restrictions have pushed up prices and heightened urgency for supply chain diversification. In this context, Nyrstar’s proposal takes on both economic and geopolitical importance.

Key Dynamics Shaping the Project’s Outlook

• China’s Export Policy Shift: Export controls introduced in 2024 have triggered volatility in global antimony markets.
• Need for Government Involvement: Unlocking production in Port Pirie will likely require financial incentives and infrastructure support from the Australian government.
• Processing Infrastructure Upgrade: A new refining phase must be added to the existing lead smelting operations to facilitate antimony output.
• Trafigura’s Strategic Leverage: As one of the world’s leading commodity traders, Trafigura can ensure distribution efficiency and global market access.
• Regional Economic Impact: The project could provide a significant economic boost to South Australia, creating jobs and strengthening industrial capacity.

Redrawing the Supply Map: A New Role for Australia in Antimony Markets

1. China’s dominance in antimony exports has made global supply chains vulnerable to geopolitical shifts.
2. Australia’s robust regulatory framework and resource base position it as a promising alternative for strategic mineral supply.
3. Nyrstar’s initiative aligns with broader Western efforts to “de-risk” supply chains by localizing production.
4. Antimony’s critical role in night vision technology, ammunition, semiconductors, and fire retardants makes it vital for national security and industrial resilience.
5. Localizing antimony processing in Australia also supports global goals for sustainable and transparent mineral supply chains.

Nyrstar’s Strategic Pivot and Australia’s Resource Future

Nyrstar’s exploration of antimony production in South Australia is more than an industrial project—it’s a potential turning point in how critical resources are sourced, processed, and secured globally. In an era marked by geopolitical tension and technological acceleration, localized mineral supply is becoming central to national policy and industrial planning.

Australia is well-positioned to become a cornerstone of the new critical mineral economy. But the success of this initiative hinges on effective collaboration between government, industry stakeholders, and international partners. If realized, Nyrstar’s project in Port Pirie could evolve from a domestic pilot into a resilient supply node serving global markets.