Canada’s Antimony Gap Shows as Iran War Sharpens Focus on Defence Metals – by Henry Lazenby (Northern Miner – April 15,  2026)

Key Takeaways

• Iran war raises demand for antimony in munitions
• USGS: 40% of U.S. antimony went to ammunition
• Canada deems antimony critical but lacks dedicated strategy
• New Polaris in BC is the most advanced antimony project
• Most Canadian antimony projects are gold‑linked, not standalone

Pulse Analysis

Antimony, a silvery metalloid, has moved from obscurity to strategic relevance as modern warfare leans on high‑performance explosives, infrared sensors, and flare technologies. The Iran‑Ukraine conflict amplified this trend, prompting defense ministries worldwide to reassess supply chains. In the United States, the USGS disclosed that roughly 40% of antimony consumption last year supported ammunition, underscoring the metal’s pivotal role in munitions manufacturing and highlighting the vulnerability of a market reliant on a handful of overseas producers.

Canada’s designation of antimony as a critical mineral signals awareness of its importance, yet the nation has yet to craft a focused policy framework. Stakeholders, including Canagold Resources CEO Catalin Kilofliski, criticize the current approach that lumps antimony into a generic critical‑metals bucket, leaving gaps in permitting, financing, and processing incentives. Without a clear roadmap, domestic producers struggle to scale, and the country risks ceding strategic supply to foreign competitors, a concern amplified by heightened defence spending in allied nations.

The project pipeline reflects these challenges. Most Canadian antimony assets are embedded within gold mines, limiting dedicated extraction capacity. The New Polaris project in north‑west British Columbia stands out as the most mature, currently updating its feasibility study to potentially unlock a standalone antimony source. Investors watching the defence metals sector should monitor policy shifts and funding mechanisms, as a decisive Canadian strategy could unlock new capital flows and position the country as a reliable antimony supplier for future defence needs.