Hunan Gold posts solid YoY growth in antimony and tungsten revenue

Hunan Gold Corporation Limited reported record results in its latest annual report, driven by surging prices and higher sales volumes of gold, antimony, and tungsten products. In 2025, the company achieved operating revenue of RMB50.18 billion (USD7.36 billion), up 80.26% year-on-year.

Annual gold sales revenue reached RMB47.01 billion (USD6.89 billion), surging 86.74% YoY, while antimony product revenue rose to RMB2.75 billion (USD403 million), up 11.05% YoY, and tungsten product revenue increased to RMB185 million (USD27.13 million), up 42.18% YoY.

Total antimony production for 2025 was 22,998 tonnes, down 21.26% YoY, including 5,823 tonnes of refined antimony, 9,524 tonnes of antimony trioxide, 4,842 tonnes of contained antimony, 2,506 tonnes of ethylene glycol antimony, and 303 tonnes of antimony trioxide masterbatch. Tungsten output totaled 958 reference tons, down 4.96% YoY. Own sourced production for the period included 14,206 tonnes of antimony products, down 6.71% YoY, and 908 reference tons of tungsten concentrate, up 3.30%.

As of the end of 2025, the company reported total ore resources of 71.9 million tonnes, containing 137,060kg of gold, 347,168 tonnes of antimony, and 109,882 tonnes of tungsten. It currently operates production lines with capacities of 100 tonne-per-annum (tpa) of gold, 25,000tpa of refined antimony, and 40,000tpa of diversified antimony products.