The 10-month project to localize the production cost 20 billion rials, producing 200 metric tons of the metal every year. The mass production of the metal will kick off in March and the country will produce low-grade ingots of only 15%.
The latest explorations in Sefidabeh region in the southeastern province of Sistan and Baluchestan show that the country has at least 35,000 metric tons of proven reserves for antimony which is used in producing different goods such as car batteries, tiles and ceramics, petrochemical, textile, miltary equipment and pharmaceutical products.
The total global reserve of antimony is around 2 million metric tons. Every metric ton of antimony ingots is now priced at $9,700 while every metric ton of the ore is around $913.
Although antimony is not categorized as a rare earth element (REE), its price has been skyrocketing since China cut exports of the REEs as well as antimony in 2010, squeezing the supply. Although China controls most of the world’s antimony production, it has only about 50% of the reserves. Russia, Bolivia, Tajikistan, and South Africa all hold significant quantities of antimony while Peru, Mexico, and Canada, along with Iran, are also big producers.
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