Acquisitive antimony company Red Mountain Mining is gearing up to join the growing US critical minerals movement, with the ASX-listed explorer announcing plans to begin trading on the OTCQB, as it advances its portfolio of antimony assets in Australia and the US.
The company said on Wednesday it was in the final stages of confirming its US listing, having appointed a US-based markets advisory team to support its expansion into North America. Red Mountain said it would announce a formal listing date next week.
The move comes amid surging investor and government interest in securing domestic antimony supply, as the US seeks to reduce dependence on China, Russia, and Tajikistan, which currently control about 90% of global production.
Antimony is a critical mineral used in defence, semiconductor, and energy storage technologies. Prices have recently spiked to about $60 000/t, following China’s export restrictions.
“Red Mountain’s expansion into the US market represents a timely and strategic step forward as the US and Australia strengthen cooperation on critical mineral supply,” the company said. “The listing will allow US investors direct access to trade our shares and position us among US peers in the fast-emerging antimony sector.”
Since September, Red Mountain has acquired several antimony projects in tier-one US mining districts, including assets near Perpetua Resources’ $4-billion Stibnite project in Idaho and Trigg Minerals’ Antimony Canyon project in Utah.
In parallel, the company has advanced its Armidale antimony/gold project in New South Wales, located within the same geological province as Larvotto Resources’ Hillgrove deposit – Australia’s largest antimony resource – currently the target of a US Antimony takeover proposal.
The planned OTCQB listing is also expected to enhance Red Mountain’s visibility among institutional and retail investors in the US, while positioning it to benefit from significant federal funding streams aimed at rebuilding domestic critical mineral supply chains.
Key US initiatives include the Export-Import Bank’s Supply Chain Resiliency Initiative and Defense Production Act Title III funding, which offer grants and loan guarantees for critical mineral projects. Recent examples, such as Locksley Resources securing potential financing support of up to $191-million for its Mojave antimony-REE project, highlight the scale of available support.
The US and Australian governments have also committed at least $1-billion each over the next six months under a Critical Minerals Framework agreement signed in October, with Export Finance Australia and the US Export-Import Bank establishing a joint “single point of entry” for streamlined project funding.
Red Mountain said it was well positioned to capitalise on these developments, with active exploration underway at its US projects and additional acquisitions under consideration.
“The listing of RMXFF will not only provide access to a deep and specialised US investor base but also align Red Mountain with the US government’s growing investment in securing a sustainable domestic supply of antimony,” the company said.