The company spent 10 years on exploration projects in eight locations in Iran and discovered approximately 7,000 tonnes (MT) of antimony reserves, the report reported.
The largest newly announced reserves are in Sistan and Balautistan in the southeast, and estimates show that the reserves are responsible for 10% of the global supply of metalloids.
Global demand for antimony has been increasing in recent years as chemical elements become increasingly popular in the manufacture of solar panels and in the production of sensitive military equipment.
The most common use of antimony is flame retardant, and minerals have traditional uses in medicine and cosmetics.
Antimony prices have also risen worldwide amidst export restrictions imposed on China. This is a country that accounts for almost half of the world’s antimony mining industry and most of the world’s antimony treatment.
Estimates released last year suggest that the price of high-purity antimony ingots could increase from $8,000 to $30,000 over the next few years.
In its efforts to diversify its economy from exporting crude oil, Iran has introduced policies to expand its mining sector in recent years.
Imidoro announced in February 2023 that it had discovered the country’s first lithium ore deposit, saying it had devised plans to launch the mine in 2025.
MNA