1. ANTIMONY MARKET UP
Antimony prices are on the rise following a serious accident at the world’s largest antimony mine in Hunan province, China, late last week. It has been reported that twenty-six people were tragically killed in a shaft accident that has halted operations at the mine operated by Hsikuangshan Twinkling Star Company. While China dominates world antimony production, this company has the capacity to produce 26,000tpy, or around 13% of global output, estimated at up to 200,000tpy.
While the mine has suspended operations indefinitely, the provincial government has acted decisively, reportedly planning to close all antimony mines and smelters for safety checking. The market has responded to the potential supply squeeze with Metal Pages (www.metal-pages.com) already reporting a price rise of over 5% to around US$6400/t. Following a brief pullback early in 2009, the antimony price is now testing record highs reached late in 2008 ).
2. ANCHOR ADVANCING TOWARDS RESOURCE UPDATE
As reported to the market on 15 September 2009, Anchor has commenced re-modelling as part of resource estimation studies following its successful resource expansion drilling program at the Wild Cattle Creek antimony deposit, in northeastern NSW. Database and modelling activities being undertaken by SRK Consulting will also aid planning for the next drilling campaign. The existing resource at Wild Cattle Creek, as estimated in early 2007, contains 13,900 tonnes of antimony
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