United States Antimony Corporation (AMEX:UAMY) has landed a five-year agreement with the U.S. Defense Logistics Agency (DLA) valued at up to $245 million to supply antimony metal ingots for the nation’s defense stockpile.
The announcement sparked a rally in the company’s shares, which jumped 17.8% in New York on Tuesday, boosting its market value to around $975 million.
Focus on domestic supply
Antimony, a grey metal designated by Washington as vital for both national security and economic stability, plays a role in a wide range of defense and technology uses, including flame-retardant products, semiconductors, primers for ammunition, and high-strength alloys.
With the U.S. having ceased commercial production of antimony in 2016, securing reliable supply has become a strategic goal. U.S. Antimony operates the only two smelters in North America with established capacity to process the metal. The company said both sites can already deliver ingots that meet strict military standards, with initial shipments under the Pentagon contract expected to begin this week.
To strengthen its supply chain, the firm has been diversifying its sources of ore globally while developing U.S. projects. Mining has recently begun on its Alaska property, where early exploration results indicate high-grade deposits that could support efficient processing. Additional acreage in Montana is also being advanced.
According to the company, rival projects in the U.S. and abroad remain at least three years away from full-scale production and may not be able to meet the Defense Department’s quality requirements.
Chairman and CEO Gary Evans described the award from the DLA as a “meaningful milestone” for the company. “This sole-source award underscores our unique position as the only fully integrated antimony operation outside China,” Evans said, emphasizing the importance of securing a government deal nearly 17 times larger than the firm’s 2024 revenue of $14.9 million.
Founded decades ago, U.S. Antimony produces and sells antimony, zeolite, and precious metals across North America. Its Montana operations refine ore into antimony oxide, metal, and trisulfide, while also recovering silver and gold. Meanwhile, its Bear River zeolite site in Idaho provides materials for water purification, agriculture, nuclear waste treatment, and other industrial markets.
United States Antimony Corporation stock price
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