19 December 2025 : Gallium + US$110.70 /kg to US$1,722.60 /kg
Gallium now up 83.16% YTD putting it on track to be one of the best performing commodities in 2025.
Supply side restrictions by China (98% of gallium production) in 2023 lit the fuse on what we believe to be one of the more explosive commodity markets by 2030. Price inelastic demand from defense applications, consumer electronics, and industrial scale demand led by data centres and EV applications will see a potential 8-10x in demand over the next 5 years.
Gallium is secondary to other primary ore’s which makes exploration and developing potential gallium supply a frustrating affair. Largely the economics of a zinc sulphide ore body or a large tonnage bauxite mine will be the first port of call looking for a new potential gallium source. The capital costs of developing new zinc / bauxite mines (both commodities largely controlled by China also) make the gallium price redundant in incentivizing new supply.
Explosive demand growth and a limited supply response in the coming years will likely see far higher gallium prices.
G50’s Golconda Project to be a major beneficiary. The 2 phases of mineralogy test work by our partners SGS have determined that 90% of the gallium at Golconda reports to 10% of the rock being a silicate – sericite. Further test work due in 2026 will likely determine potential commercialisation pathways for gallium at Golconda. While Golconda’s economics will be driven by precious metals prices (gold and silver) the alteration zone at surface where the gallium sits provides leverage to an exciting commodity in Arizona USA, a strong candidate for domestic supply integration.
90 minutes from Vegas and 100 miles due east of Mountain Pass gives Golconda exposure to infrastructure, mining expertise and a supportive community for development.
The gallium price started 2025 at U$940.50 per kg. That’s approximately U$26.66 an ounce.
Today at U$1,722.60 /kg that’s U$48.83 an ounce.
The 83% YTD move in gallium pales in comparison to silver at 126% YTD and slightly better than gold’s positively sluggish 65% YTD. All 3 metals are commodities that Golconda is significantly leveraged to in upcoming exploration programs.
Happy Holidays and all the very best for 2026.
