[SMM Antimony Industry Report] Xinlong Mining Headquarters temporarily suspends production

Hunan Gold Co., Ltd. issued an announcement regarding the temporary suspension of production of its subsidiary Xinlong Mining Headquarters. On March 27, 2024, employees of the project department of Hunan Jinzhiyuan Mining Engineering Co., Ltd. (hereinafter referred to as Jinzhiyuan), the mining engineering contractor of the subsidiary Xinlong Mining, were moving anchor nets at the door of the warehouse at the 630 Industrial Plaza on the ground of Xinlong Mining. The stacked anchor nets rolled down and were hit by objects, resulting in the death of an employee of the Jinzhiyuan Xinlong Mining Project Department. After the accident, Xinlong Mining immediately launched an emergency plan. Company leaders immediately rushed to the scene to organize the handling, and took emergency response measures for personnel treatment and aftermath. Xinlong Mining promptly reported the accident to the relevant departments in accordance with relevant regulations and procedures, and suspended production for rectification.

Many market participants said that Xinlong Mining's annual output of antimony reaches more than 6,000 tons, including the production of antimony ore and metal antimony, accounting for a high proportion of domestic production. Currently, Xinlong Mining and Jinzhiyuan project departments are actively cooperating with local emergency departments to further investigate and deal with the accident, and various disposal tasks are being carried out in an orderly manner. However, it is foreseeable that the production of antimony products of Xinlong Mining will be significantly affected in the short term. It is expected that the production volume of antimony products of Xinlong Mining will be significantly reduced from the end of March to April. This also has a certain impact on the current supply of the entire antimony market.