United States Antimony stock jumps after $245M Pentagon contract win

United States Antimony Corporation (NYSE: UAMY) has secured a sole-source, five-year contract worth up to $245 million from the US Defense Logistics Agency (DLA) to supply antimony metal ingots for the national defense stockpile.The news sent US Antimony’s shares soaring 17.8% in New York trading on Tuesday, pushing the company’s market capitalization to about $975 million.Securing domestic supplyAntimony, a grey metal listed by the US as critical to national and economic security, is used in defense and high-tech applications including flame-retardant materials, certain semiconductors, ammunition primers, and superhard alloys. The US has not produced antimony commercially since 2016, making domestic supply a priority.United States Antimony operates the only two smelters in North America with long-standing capacity to process the metal. According to the company, both facilities are already capable of producing ingots that meet stringent military specifications, with first deliveries under the contract expected this week.US Antimony has been working to expand its feedstock base, sourcing ore globally while advancing domestic projects. Mining recently began on its Alaska acreage, with initial results showing high-grade deposits that the company says will enable efficient processing and contribute to the US supply chain. It is also advancing acreage in Montana.The company emphasized that competing antimony sources, whether from the US or abroad, are at least three years away from commercial-scale production and may not meet defense standards.Chairman and CEO Gary C. Evans called the Pentagon contract a “meaningful milestone” for the company and its employees. “This sole-source award underscores our unique position as the only fully integrated antimony operation outside China,” Evans said, highlighting the significance of winning a government contract worth nearly 17 times the company’s 2024 revenue of $14.9 million.Founded decades ago, US Antimony Corporation produces and markets antimony, zeolite, and precious metals across the US and Canada. Its Montana facility processes ore into antimony oxide, antimony metal, and antimony trisulfide while also recovering gold and silver. Its Bear River Zeolite operation in Idaho supplies materials for water filtration, nuclear waste treatment, agriculture, and other industrial uses.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com