Antimony in Zimbabwe

1. A critical mineral

   Antimony is on the US and EU critical-minerals lists. China mined about 40,000 t of the world's 110,000 t in 2025 and has controlled its exports since September 2024.^1,3,6,7

2. Gold–antimony country

   Gold–antimony deposits occur in the Midlands greenstone shear zones, with antimony areas around Kwekwe, Kadoma, Shurugwi, Mberengwa and Bubi.^14,15

3. A long-term position

   Exports are suspended with no domestic smelter named, and prices are about two-thirds below their 2025 peak. Value today lies in ground that can be held, explored and processed in-country.^3,10,12

Zimbabwe's antimony occurs mostly as stibnite in gold-bearing shear zones of the Midlands greenstone belts. The Kwekwe district is the historic centre: the Globe and Phoenix mine is known for the antimony mineral kermesite, and projects such as Jojo, Monte Christo, Anzac and Dalling report combined gold and antimony grades. USGS has no reliable figure for national output.^2,14,15,22

Antimony is mined as stibnite (Sb₂S₃) and sold up a chain: ore, then concentrate (the Chinese benchmark is sulfide concentrate at 55% Sb or more), then antimony trioxide for flame retardants or metal ingot. In Zimbabwe the ore usually carries gold too, which often decides the economics.

Gold first

In Zimbabwe, run-of-mine ore is typically leached for gold and the antimony concentrate stockpiled. Local capacity stops at flotation and roasting; there is no smelter.¹⁴

What to ask for

Assays for both antimony and gold across the vein, not hand-picked specimens, and any metallurgical test work. Grades on small veins vary sharply.

Oman's antimony roaster

SPMP at Sohar Freezone was built for 20,000 t a year of antimony metal and trioxide plus gold, with a long-term concentrate supply deal signed with Traxys in 2017. We could not confirm its current status.^16,17

US processors

US Antimony Corp buys foreign ore and returns the gold and silver value to the seller; Perpetua Resources began building in Idaho in October 2025 with US government backing.^1,18

China

The largest producer and the price benchmark for concentrate. Its ban on exports to the US is suspended until 27 November 2026.^1,4,5

In Zimbabwe

Flotation at Sebakwe and the Ivanhoe Milling Centre, and flotation and roasting at Anzac. Export suspensions are administered through MMCZ.^10,14

Export suspension

A Ministry of Mines directive to MMCZ suspends exports of antimony and tungsten in all forms, including ores and concentrates, with immediate effect and until further notice.^10,11,12

Critical-minerals declaration

In May 2026 antimony was declared one of 14 critical minerals: no raw exports outside an approved transitional plan, a minimum state stake through special-purpose vehicles (percentage to be set by regulation), and ministerial approval for new mining rights.^8,9

Export tax

10% on antimony exports from 1 January 2026 (Finance Act No. 7 of 2025), on the higher of the exchange price and the declared value.¹³

Claims

Base-metal claims are up to 1 ha each, up to 25 under an ordinary prospecting licence or 150 under a special one.²⁰

Environment

Mining and quarrying cannot proceed without an Environmental Impact Assessment.²¹

Outright purchase

Gold–antimony projects have changed hands outright — Jojo was bought from Homestake by a Chinese group.¹⁴

Long-term concentrate supply

The model used to feed roasters such as SPMP in Oman. It depends on exports reopening.¹⁷

Ore sale with gold credit

Some processors buy gold–antimony ore and pay the seller for the gold and silver it contains.¹⁸

Joint venture for in-country processing

Under the critical-minerals rules, the route most likely to be approved pairs ground with local beneficiation, possibly alongside a state stake.⁸

How Munisa works antimony:

Teasers only: province level, figures as reported by the holder, prices discussed with the desk. Exact locations and documents follow an NDA.

AntimonyGoldOutright sale

Antimony–gold mines, Munyati — Kwekwe (298 ha, two mines)

Two adjacent antimony–gold mines of 148 ha and 150 ha near Munyati, Kwekwe, with shafts on both. Accredited-lab specimens returned 15.1–42.4% Sb.

Tier 0 · Unverified

Grade

15.1–42.4 % Sb

Size

298 ha

Province

Midlands

Stage

Brownfield

Development stage: Development

DR-02Updated 1 week ago

View asset

AntimonyOutright sale

Registered antimony claim, Midlands

Registered antimony claim with existing shafts on site and geological reports available.

Tier 2 · Desk verifiedRegistered

Title type

Registered claim

Size

119 ha

Province

Midlands

Stage

Brownfield

Development stage: Development

MMM-OP-014Updated 3 months ago

View asset

1. [1]USGS, Mineral Commodity Summaries 2026: Antimony, February 2026. pubs.usgs.gov
2. [2]USGS, 2024 Minerals Yearbook: Zimbabwe, August 2026. pubs.usgs.gov
3. [3]Fastmarkets, Europe's antimony market faces uncertainty after years of volatility, 15 October 2026. fastmarkets.com
4. [4]SMM, Antimony prices drop across the board: weekly review, 16 October 2026. news.metal.com
5. [5]Investing News Network, Antimony market faces a Nov. 27 export-control deadline from China, 5 October 2026. investingnews.com
6. [6]USGS, Interior Department releases final 2025 list of critical minerals, 6 November 2025. usgs.gov
7. [7]EU Regulation 2024/1252 (EIT RawMaterials copy), Critical Raw Materials Act, Annex II, 2024. eitrawmaterials.eu
8. [8]Xinhua, Zimbabwe declares 14 critical minerals, 23 May 2026. english.news.cn
9. [9]Mining Zimbabwe, Zimbabwe bans raw exports of 14 metals, 26 May 2026. miningzimbabwe.com
10. [10]Mining Zimbabwe, Zimbabwe suspends antimony and tungsten exports, 6 September 2026. miningzimbabwe.com
11. [11]SMM, Zimbabwe bans antimony, tungsten exports to boost domestic processing, 8 September 2026. news.metal.com
12. [12]Mugglehead, Zimbabwe bans antimony and tungsten exports to stimulate local economy, 9 September 2026. mugglehead.com
13. [13]Muvingi & Mugadza, Mining tax and regulatory updates in Zimbabwe (2026), 5 January 2026. mmmlawfirm.co.zw
14. [14]We Mine Zimbabwe, Chinese companies dominate Zimbabwe's antimony mining sector as prices skyrocket, 4 December 2024, updated 29 May 2025. weminezimbabwe.co.zw
15. [15]Mining Zimbabwe, Antimony uses, pricing and areas mined in Zimbabwe, 12 March 2026. miningzimbabwe.com
16. [16]Times of Oman, Oman's first antimony-gold facility to reach full production this year, 16 February 2020. timesofoman.com
17. [17]Oman Observer, Oman antimony roaster signs feedstock supply pact, 14 June 2017. omanobserver.om
18. [18]United States Antimony Corporation (SEC Form 10-Q), Quarterly report, Q1 2026, 2026. sec.gov
19. [19]USGS, Professional Paper 1802-C: Antimony, 2017. pubs.usgs.gov
20. [20]Chamber of Mines of Zimbabwe, Mining law, undated. chamberofminesofzimbabwe.com
21. [21]Business Times, Understanding EIAs' legal framework, 17 March 2022. businesstimes.co.zw
22. [22]Wikipedia, Globe and Phoenix Mine, and district town articles, accessed 3 November 2026. en.wikipedia.org

What we could not pin down

• The export suspension letter is dated 21 July 2026; one report gives 8 September as the effective date.
• We found no royalty rate specific to antimony.
• We could not confirm whether Oman's SPMP roaster is operating today.
• Project grades come from a trade publication and are unaudited; historic Kwekwe output figures conflict between sources.
• The size of the state stake under the critical-minerals rules has not been published.

Compiled by Munisa Resources from public sources, as dated above. Prices and rules change; check current figures before relying on them. Nothing here is investment, legal or tax advice, an offer of securities, or a statement of Mineral Resources or Reserves. See our terms of use. Munisa Resources · dealroom.munisaresources.com