United States Antimony Corporation (NYSE American: UAMY), commonly known as USAC, is making strides to reinstate antimony mining in the U.S. With recent developments, the company has begun acquiring land and mining claims near its historical smelter located in Thompson Falls, Montana.
This initiative is timely, given America’s significant reliance on imported antimony. As global production wanes and prices rise, USAC’s reentry into domestic mining is poised to play a crucial role in securing this vital mineral. Antimony finds its applications in various sectors, including solar panels, batteries, and defense systems.
Since the beginning of 2025, USAC has been actively securing mining rights and land surrounding its antimony smelter in Sanders County, Montana, a site that has facilitated the company’s smelting operations for several decades. This region was previously tapped for its antimony by USAC’s earlier management teams in the 1970s.
Gary C. Evans, Chairman and CEO of USAC, emphasized the government’s increasing involvement in safeguarding North American supply chains for critical minerals like antimony.
In light of China’s overwhelming dominance and recent trade embargoes, there is a recognized necessity for nations to ensure the stability of their supply chains for essential materials.
Evans added, “The significant increase in global antimony ore prices has simplified our decision to reactivate our existing antimony mine adjacent to our smelting operations. Coupled with our over 35,000 acres of newly acquired mining claims in Alaska, we proudly become the first entity to resume mining operations in the U.S. in decades.
Moreover, we are the first fully integrated antimony company capable of consolidating our supply chain and managing both midstream and downstream operations.”
After reviewing past records, maps, and conducting site visits, USAC identified signs of at least three antimony-rich vein systems that have potential for reopening mining operations. Currently, the company holds approximately 24 acres of land and possesses mining rights over 1,200 acres in total.
Plans are underway to commence mining on five acres of patented land, where the company is already authorized to mine as per Montana’s Small Miners Exclusion Statement (SMES). A second SMES is expected to be approved shortly, as USAC seeks exploration permits from both the Montana Department of Environmental Quality and the U.S. Forest Service.
This marks a significant step toward revitalizing American antimony mining directly adjacent to the nation’s sole operational antimony smelter.
The Importance of the Thompson Falls Smelter
The Thompson Falls smelter holds a critical position as the only operational antimony smelter in the United States, providing USAC with a competitive edge.
While other companies are compelled to import processed antimony, USAC has the unique capability to mine and refine the metal within the same operational footprint.
The smelter’s production capabilities include:
– 15 million pounds of antimony oxide annually, or
– 5 million pounds of pure antimony metal per year.
Antimony oxide serves as a crucial ingredient in manufacturing flame-resistant materials such as plastics, paper, rubber, textiles, coatings, paints, and fluorescent lights.
Beyond antimony, USAC also produces antimony trisulfide, utilized in military equipment and ammunition, and processes precious metals and zeolite at its facilities in both Mexico and the U.S.
Growth in Alaska and Canada
US Antimony is expanding its reach beyond Montana, with substantial holdings in Alaska where they possess over 35,000 acres of mining claims.
These sites have the potential to supply additional ore to the Montana smelter, further enhancing USAC’s production capabilities.
On June 27, 2025, USAC completed an acquisition of the Fostung Properties located in Ontario, Canada.
This property is rich in tungsten, another pivotal mineral used in military and industrial applications.
Covering 50 mining claims across 1,114 hectares, this acquisition was completed for a mere $5 million.
The previous owners retained a modest 0.5% royalty, entitling them to a share should the minerals be sold.
This strategic move allows USAC to diversify into other critical mineral markets while maintaining operations in stable regions such as Canada.
Factors Contributing to the Global Antimony Shortage
USAC has identified that the global supply of antimony currently faces severe challenges.
For many years, China and Russia have dominated the production landscape, with over 60% of global antimony ore originating from these nations.
Furthermore, China manufactured over 70% of processed antimony up until 2022.
Recent trends showcase a marked change: in the first half of 2024, China’s antimony exports plummeted by 45%.
This decline in exports can be attributed to an increase in domestic usage, particularly for solar panel production, alongside deteriorating ore quality and new mining regulations.
Notably, despite being the largest producer of antimony, China has shifted to become a net importer of antimony concentrates.
While other nations seek to enter the marketplace, they often face challenges due to limited processing capabilities, complicating the quest for reliable antimony sources outside of China.
Significance of Antimony in the United States
Recognized as a critical mineral by the U.S. government, antimony is indispensable, particularly for military applications.
Its uses encompass:
– Ammunition and explosive materials
– Infrared-guided missiles
– Night-vision equipment
– Nuclear arsenals
– Fire-resistant components
– Batteries and solar technologies
The absence of antimony could considerably hinder both defense and clean energy sectors.
As a response, both the Department of Defense (DoD) and the Department of Energy (DOE) are promoting increased domestic production.
Accelerating Mine Permits under President Trump
To bolster domestic mineral extraction initiatives, the Federal Permitting Improvement Steering Council announced on April 18 the fast-tracking of permits for 10 significant U.S. mining projects, including antimony mining endeavors.
One notable example is the Stibnite Gold Project led by Perpetua Resources, which boasts extensive antimony reserves and has been incorporated into the Federal Permitting Dashboard.
This dashboard facilitates expedited review processes, enhances coordination, and provides transparency in permitting, thereby reinforcing the U.S. strategy to improve local mining—with a particular focus on minerals essential for defense and clean energy initiatives.
Positive Investor Sentiment Surrounds United States Antimony Corporation
In light of USAC’s announcements and expansion plans, investor interest has surged.
On July 3, 2025, the company saw its stock price increase by 4%, resulting in a market capitalization reaching $258.5 million.
Investors are recognizing the significant opportunities presented by domestic antimony production, primarily as global supplies contract and demand intensifies.
Given USAC’s strategy for cost-effective expansion complemented by access to critical operational sites, the corporation stands as an appealing prospect within the burgeoning critical minerals sector.
With substantial assets spread across Montana, Alaska, and Canada, USAC has the potential to emerge as a key supplier of antimony and tungsten in North America.
By revitalizing mining practices in Montana, directly supplying its smelter with local resources, and exploring new critical minerals, United States Antimony Corporation is at the forefront of reestablishing America’s mineral autonomy.
image source from：carboncredits
