Larvotto Resources has shipped its first 68 tonnes of antimony concentrate from the Hillgrove mine in New South Wales, a step toward making it a revenue-generating operation.
At a glance
- Hillgrove is expected to produce about 4,900 tonnes of antimony and 40,500 ounces of gold a year.
- The first shipment is going to offtake partner Wogen Resources.
- Larvotto plans to add tungsten as a third product in 2027.
Background
Antimony is a critical mineral used in defence, including ammunition and explosives, and governments are looking for supply outside China. Hillgrove, in the New England region of New South Wales, produces antimony and gold concentrates and gold doré. Concentrate is partly processed ore that is sold to smelters for refining.
What happened
Larvotto has shipped its first antimony concentrate from Hillgrove, Australian Mining reported. The initial 68-tonne shipment is going to offtake partner Wogen Resources, and the company is preparing its first gold concentrate shipment.
Production began at Hillgrove in August, and the first antimony and gold concentrates were made in September.
Why it matters
The shipment marks Hillgrove's move toward commercial production. "With the antimony circuit now operating at a steady rate, we will broaden our focus to optimise gold concentrate and gold doré production," managing director Ron Heeks said.
Hillgrove is expected to produce about 4,900 tonnes of antimony and 40,500 ounces of gold a year over an initial eight-year mine life. It has binding offtakes with Wogen for antimony and Glencore for gold concentrate, both covering the first seven years.
Heeks also called the shipment a significant development for the New England region, where Hillgrove supports local jobs and economic activity.
What comes next
Larvotto said plant availability is beating expectations, while throughput and concentrate grades keep improving. It now aims to lift processing rates toward nameplate capacity and expects first gold doré production soon.
The company is also testing tungsten recovery, with plans to add a third concentrate product in 2027.
Our read
Outlook: neutral. A new antimony source outside China helps diversify supply, but one mine's output is too small to move the global market on its own.
What to watch
- Larvotto's first gold concentrate shipment and gold doré pour.
- How quickly Hillgrove reaches nameplate capacity.
- Results of tungsten recovery test work.
For information only, not investment advice.
Detailed analysis
Timeline
- 2026-10-14: Larvotto ships its first 68 tonnes of antimony concentrate from Hillgrove.
Supply Drivers
The mine adds an Australian source of antimony with seven-year offtake agreements in place.
Mining Production
Hillgrove started production in August and is ramping up toward nameplate capacity.
What could lift prices
- Western demand for non-Chinese antimony supports new producers.
- Plant availability is beating expectations.
What could weigh on prices
- Ramp-up to nameplate capacity is still under way.
- Gold production has yet to start shipping.
Country impact
| Country | Impact | Reason |
|---|---|---|
| Australia | Medium | Hillgrove adds a domestic source of antimony and gold. |
Industry impact
| Industry | Effect | Reason |
|---|---|---|
| Critical Minerals Mining | Positive | A new antimony mine is now shipping product. |
Who gains, who loses
- Wogen Resources: It receives antimony concentrate under a seven-year offtake.
- Chinese antimony exporters: A new Australian source gives Western buyers another option.
Other ways this could play out
- If ramp-up continues smoothly, Hillgrove could reach nameplate capacity within months.
- If processing problems emerge, gold output could be delayed.
Price risks
- Commissioning setbacks during ramp-up.
- Lower antimony or gold prices would cut revenue.
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