Larvotto Resources Accelerates Hillgrove Antimony-Gold Project

Larvotto Resources Limited (ASX: LRV) is rapidly advancing what is poised to become Australia’s largest antimony producer with the redevelopment of its Hillgrove Antimony-Gold Project in New South Wales, targeting first commercial production in mid-2026. The development not only represents a milestone for the company but signals a rare near-term Western supply source for a mineral increasingly recognised as critical to global industrial supply chains. 

Antimony’s Strategic Importance and Market Dynamics

Antimony (Sb) is a metalloid with indispensable applications across multiple sectors. It is widely used in flame retardants, lead-acid batteries, semiconductors and a range of defence technologies, including armour-piercing ammunition and night-vision equipment. These applications make antimony a key input for advanced manufacturing and national security supply chains. 

Global supply has historically been concentrated in China, which accounts for a large majority of both production and processing capacity. In recent years, export controls and policy shifts in China have constrained availability outside Asia, driving prices sharply higher, with antimony trading at levels above US$35,000 per tonne in late 2025, compared with much lower historical averages.

This market environment, coupled with strong gold pricing, has created favourable economics for new antimony projects outside China - especially in politically stable jurisdictions such as Australia.

Larvotto’s Hillgrove Project: From Restart to Expansion

Larvotto’s strategic acquisition of the Hillgrove Antimony-Gold Project, located approximately 23 km east of Armidale in northern NSW, transformed the company from an explorer to a near-term producer. The project hosts a high-grade mineral resource and is ranked among the top ten antimony deposits globally as well as Australia’s largest.

The company’s Definitive Feasibility Study (DFS) outlined a robust eight-year base case mine plan with compelling financial metrics, including strong payback profiles and significant free cash flow generation under mid-range price scenarios. The DFS also confirmed expansion potential beyond the initial mined inventory, underscoring the asset’s long-term value.

Part of Hillgrove’s appeal lies in its existing infrastructure, which has enabled Larvotto to adopt an accelerated development timeline. Leveraging a permitted processing plant, mains grid power, road access, and 15km of existing underground development, the company is expediting construction with a capital-efficient plan that targets full mechanical completion in 2026.