Antimony Market Faces a Nov. 27 Export-Control Deadline from China

VANCOUVER, BC, Oct. 5, 2026 /CNW/ -- Canada News Group News Commentary - The global antimony market is projected to grow from $4.94 billion in 2025 to $5.26 billion in 2026, a 6.6% compound annual growth rate, and to reach $6.65 billion by 2030 at a 6.0% compound annual growth rate, according to The Business Research Company's Antimony Global Market Report 2026. The metal goes into flame retardants, lead-acid batteries, ammunition and glass, and it now carries a policy clock: China's suspension of its antimony export ban to the United States runs until November 27, 2026. Gold producers, meanwhile, are reporting realized prices above $4,000 an ounce, and at least one gold-antimony system in New Zealand is moving through a stated permitting timeline. Active Companies from around the markets with current developments this week include:

Rua Gold Inc. (OTCQX: NZAUF) (TSX: RUA) (NZX: RGI)

Agnico Eagle Mines Limited (NYSE: AEM)

Eldorado Gold Corporation (NYSE: EGO)

Fortuna Mining Corp. (NYSE: FSM)

SSR Mining Inc. (NASDAQ: SSRM)

A second forecast sizes the market differently but points the same way. Grand View Research estimated the global antimony market at USD 2.17 billion in 2023 and projected a 6.1% compound annual growth rate from 2024 to 2030.

The United States leans heavily on imports. The U.S. Geological Survey's Mineral Commodity Summaries 2026 reports that net import reliance was 91% of apparent consumption in 2025, and that the leading uses of antimony were metal products, including flame retardants, at 49%, antimonial lead and ammunition at 40%, and nonmetal products, including ceramics, glass and rubber, at 11%.

The policy backdrop is the second leg. China announced on November 9, 2025 that it would suspend its prohibition on exports of gallium, germanium, antimony and superhard materials to the United States until November 27, 2026, according to Fastmarkets. The prohibition was first introduced in December 2024. The suspension did not address the separate prohibition on dual-use items going to U.S. military users, which remains in effect. The deadline falls less than eight weeks after the date of this article.

Gold prices are doing part of the work on the other side of the ledger. Agnico Eagle reported a realized gold price of $4,483 per ounce for the second quarter of 2026, and Eldorado Gold reported $4,379 per ounce. By comparison, Rua Gold's gold-equivalent calculation at its Auld Creek project assumes US$3,000 per ounce of gold and US$25,000 per tonne of antimony, so its published grades are expressed on a price deck below what producers are currently realizing.

RUA GOLD Reports Further High-Grade Drill Results and Mineral Continuity at its Auld Creek Gold-Antimony Project

• Four drill rigs continue resource drilling across the Auld Creek system, which remains open along strike and at depth.
• ACDDH127 returned 6.6 m at 24.9 g/t AuEq (10.5 g/t Au and 6.7% Sb) from 359 m, including 0.3 m at 43.6 g/t Au and 33.3% Sb.
• ACDDH130 returned 6.3 m at 14.4 g/t AuEq (13.7 g/t Au and 0.3% Sb) from 208 m, including 0.3 m at 69.2 g/t Au.
• An updated Mineral Resource Estimate is targeted for Q4 2026, and the Fast-Track Approvals application is targeted for October 2026.

Rua Gold Inc. (OTCQX: NZAUF) (TSX: RUA) (NZX: RGI) (WKN: A40QYC) ("RUA GOLD" or the "Company") said on October 5, 2026 that its resource drilling at the Auld Creek gold-antimony project in Reefton, New Zealand continues to intersect high-grade mineralization, with visible gold still being observed in drill core. Other highlighted holes in the release include ACDDH121, which returned 11.7 m at 5.0 g/t AuEq (4.1 g/t Au and 0.4% Sb) from 365.5 m; ACDDH123A, which returned 2.2 m at 34.6 g/t AuEq (10.3 g/t Au and 11.3% Sb) from 228 m; and ACDDH123B, which returned 5 m at 7.4 g/t AuEq (4.8 g/t Au and 1.2% Sb) from 236 m. Read the full release at ruagold.com.

The Company said the Fraternal structure, a major synclinal sheared fold that hosts the mineralization, has now been drill confirmed to extend northward for over 1,400 meters and has been intercepted at over 500 meters depth. Infill drilling along the structure is confirming high-grade shoots that dip shallow to moderately northward in a repeating sequence, with the Company describing repeating shoots at depth at approximately 40 meter intervals. The current ratio of conversion of inferred to indicated resources is greater than 70%, according to the Company, and is improving with each successful hole.

The active resource program also includes the geotechnical and metallurgical testing required for the Pre-Feasibility Study ("PFS"), including hydrology, rock strength, specific gravity and ore zone characterization. The Company said that work is largely complete ahead of its Fast-Track application and the lodgment of the required NI 43-101 reports. Drilling is now probing northward to extend the mineralized body, with depth potential to be examined in Q4 2026.

The permitting timeline matters to the antimony thesis. Following the Company's July 30, 2026 announcement that Auld Creek had been accepted as a listed project under New Zealand's Fast-Track Approvals regime, RUA GOLD said it remains on track to submit its substantive application in October 2026 and to publish a PFS in December 2026. In the release, CEO Robert Eckford said: "These latest results, together with continued observations of visible gold, reinforce the high-grade nature and growth potential of Auld Creek. The continuity of the high-grade shoots, together with repeating mineralization at depth, is increasing our confidence in the potential for further resource growth. With four rigs continuing to advance the resource, we are targeting an updated Mineral Resource Estimate in Q4 while remaining on track to submit our Fast-Track Approvals application in October."

Beyond Auld Creek, the Company says it controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island, with over 120,000 hectares of permits, in a district that it states historically produced over 2 Moz of gold grading from 9 to 50 g/t, citing its technical report on the Reefton Project with an effective date of February 27, 2026. It also holds the Glamorgan Project in the Hauraki District on the North Island, a region the Company describes as having produced 15 Moz of gold and 60 Moz of silver. Those historical figures are regional context and are not resources or reserves of the Company.

Core samples were sent to SGS Laboratories, Westport for sample preparation, and pulverized samples were analyzed by ALS Brisbane for gold by 50 g fire assay with AAS finish and for antimony by lithium borate fusion with an XRF finish, according to the release. Simon Henderson, CP, AusIMM, the Company's Chief Operating Officer and a director, reviewed and approved the technical disclosure and is not independent of the Company.

Risks to weigh. These are exploration results. The Company has not defined a mineral reserve at Auld Creek. Intercepts are downhole core lengths that may not represent true widths, and the highlighted intercepts are selective, so they should not be read as typical of the whole system. Gold equivalent grades depend on assumed metal prices and 85% recovery, and realized prices and recoveries can differ. Fast-Track acceptance is not a permit or consent. The October application, the Q4 resource update and the December PFS are targets, not commitments, and any of them can slip or come out differently than expected. Antimony and gold prices are volatile, and the export-control picture in China can change in either direction before or after November 27. Readers should review the Company's disclosure record on SEDAR+ and the full disclaimer below.

CONTINUED... Read this and more news for Rua Gold Inc. (OTCQX: NZAUF) (TSX: RUA) (NZX: RGI) (WKN: A40QYC) at: https://www.canadanewsgroup.com

In other industry developments and happenings in the market this week include:

Agnico Eagle Mines Limited (NYSE: AEM) reported second quarter 2026 results on July 29, 2026, with payable gold production of 855,816 ounces, a realized gold price of $4,483 per ounce, total cash costs of $1,054 per ounce and all-in sustaining costs of $1,459 per ounce, according to its results release filed with the SEC. Net income was $1,600 million, or $3.19 per share, adjusted net income was $1,541 million, or $3.07 per share, and free cash flow was $1,335 million, or $2.66 per share. The company returned a record $625 million to shareholders in the quarter and maintained its 2026 production guidance of 3.3 to 3.5 million ounces.

The same release discussed the Barnat pit incident at Canadian Malartic, which Agnico Eagle said will reduce gold production at that mine by 60,000 to 80,000 ounces in the second half of 2026, and by up to 150,000 ounces in each of 2027 and 2028. Agnico Eagle President and CEO Ammar Al-Joundi said the strength of the business and the company's balanced capital allocation approach enabled it to reinvest in future growth, complete its regional consolidation in Finland, strengthen its balance sheet and "return a record $625 million to our shareholders."

Eldorado Gold Corporation (NYSE: EGO) reported second quarter 2026 results on July 30, 2026, with production of 104,616 ounces, sales of 102,691 ounces at an average realized price of $4,379 per ounce, all-in sustaining costs of $1,926 per ounce sold, and net earnings of $172.8 million, or $0.69 per basic share. The company guided to 495,000 to 600,000 ounces of consolidated 2026 production, and to 430,000 to 490,000 ounces excluding Skouries and McIlvenna Bay.

The release said the Skouries project in Greece was 97% complete, with first production of copper-gold concentrate expected in Q3 2026 and 2026 gold production of between 60,000 and 100,000 ounces. Eldorado later announced first concentrate at Skouries on September 8, 2026 and the completion of mine energization, connecting the site to the Greek national grid, on September 28, 2026, with commercial production expected in Q4 2026, per its news releases. CEO George Burns said in the Q2 release: "Second quarter results reflect continued cash flow generation across the portfolio, supported by a favourable gold price environment."

Fortuna Mining Corp. (NYSE: FSM) approved a 30% capacity expansion of its Séguéla gold mine in Côte d'Ivoire on July 29, 2026, lifting throughput from 1.75 to 2.3 million tonnes per year. The company said Séguéla is expected to produce more than 200,000 ounces of gold per year over the next decade, with construction capital of $109 million and a payback of approximately 2.5 years. Construction is scheduled to begin in the second half of 2026, Sunbird underground mining in Q2 2027, and ramp-up to 2.3 million tonnes per year in the second half of 2028.

On August 5, 2026, Fortuna reported second quarter results with 72,217 gold equivalent ounces produced, free cash flow from ongoing operations of $85.7 million, adjusted EBITDA of $200.8 million at a 63% margin, and $82.1 million returned to shareholders through share buy-backs. President and CEO Jorge Ganoza said the quarter "demonstrated the strength of our portfolio as we funded our growth projects, maintained a strong balance sheet, and still generated sufficient excess cash to return $82.1 million to shareholders through share buy-backs." Fortuna's company materials are available at fortunamining.com.

SSR Mining Inc. (NASDAQ: SSRM) reported second quarter 2026 results on August 4, 2026, with 101,959 gold equivalent ounces produced, net income attributable to shareholders of $137.0 million, or $0.66 per diluted share, operating cash flow of $115.6 million and free cash flow of $50.3 million. The company ended the quarter with $1,783.0 million of cash and no long-term debt, and guided to 450,000 to 535,000 gold equivalent ounces for 2026.

Executive Chairman Rod Antal said: "We have now completed the strategic repositioning of our business to the Americas. Anchored by our long-lived Marigold and CC&V operations in the USA, our focus on delivering sustainable free cash flow and best-in-class capital returns is a clear differentiator amongst the peer group." Company information is available at ssrmining.com.

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Cautionary Note on Exploration Results. Rua Gold Inc. has not defined any mineral reserve at the Auld Creek Project. Drill intercepts are reported as downhole core lengths and may not represent true widths. The highlighted intercepts are selective and are not representative of the grade or continuity of the mineralization as a whole. Gold equivalent (AuEq) values are calculated by the company as Au g/t plus 2.15 times Sb %, using assumed prices of US$3,000 per ounce of gold and US$25,000 per tonne of antimony and 85% recovery; these are assumptions and not guarantees of realized prices or recoveries. Visible gold observed in core is not an indicator of grade. Acceptance of a project as a listed project under New Zealand's Fast-Track Approvals regime is not a permit or consent, and the timing of the substantive application, the updated Mineral Resource Estimate and the Pre-Feasibility Study are company targets that may change. There is no assurance that any application will be submitted or approved, or that any study will be completed or will be positive. Historical production figures for the Reefton and Hauraki districts are regional context only and are not resources or reserves of the company. The technical disclosure in the company's release was reviewed and approved by Simon Henderson, CP, AusIMM, a qualified person under National Instrument 43-101 and the company's Chief Operating Officer and a director, who is not independent of the company. Readers should refer to the company's disclosure record on SEDAR+ at www.sedarplus.ca and to the company's news release for full details.

References to Agnico Eagle Mines Limited, Eldorado Gold Corporation, Fortuna Mining Corp. and SSR Mining Inc. are provided solely as market and sector context. Those companies are not peers, competitors, or financial comparables of Rua Gold Inc., none of them is involved in the preparation of this article, and their results are not indicative of Rua Gold Inc.'s prospects. No partnership, affiliation, or endorsement is implied.

Third-party market-size figures and forecasts cited in this article are projections by the named research firms and government agencies, are not guarantees, and do not represent revenue addressable by Rua Gold Inc. or any company named herein. Gold and antimony prices are volatile and may change materially.

Forward-Looking Statements. This article contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding drilling results, resource estimates, studies, permitting timelines, metal prices, supply and demand, and government policy. Such statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. We undertake no obligation to update any forward-looking statement except as required by law.

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SOURCE Canada News Group