United States Antimony (UAMY) LD Micro 20th Annual Main Event Conference summary

Strategy and market

• China’s September 2024 export restrictions sent antimony from a long-standing ~$5–$6/lb range to nearly $30/lb; increased artisanal supply later brought spot pricing to $8.64/lb, near $9 at the event.

• U.S. annual antimony consumption was cited at 26,000 tons, with ~32% defense-related; uses span munitions, aircraft, flame retardants, solar panels, batteries and data centers.

• Domestic-sourcing requirements for military and government contractors take effect next January; military contractors are transitioning supply chains, with a Made-in-America premium cited.

Processing and capacity

• A $27M Department of War grant funded a new Thompson Falls facility, now almost fully online; four remaining furnaces were expected online by Thanksgiving, raising capacity from 75 to >300 tons/month.

• Madero’s legacy furnace can process 200 tons/month; after resolving product contamination from high-iron feedstock, operations were shipping 2–3 truckloads weekly for oxide production.

• Radersburg flotation upgrades lower-grade ore to the 60% concentrate needed for smelting; mining feedstock criteria include ≥10% stibnite and <0.2% deleterious elements.

• Antimony output reached ~1,000 tons mined in Montana this year at 10% grade; 800 tons were trucked in 45 days after Stibnite Hill reopened in October last year.

Hydrometallurgy joint venture

• The 49%-owned JV with Americas Gold and Silver plans a modular 120,000-sq-ft Idaho facility; scope expanded to build antimony, copper and silver phases together.

• CapEx increased from $75M to $150M as engineering expanded; the facility is designed for 1,000 tons/month, with a 2028 target and anticipated combined capacity above 1,500 tons/month.

• Hydromet processing accepts broader grades and impurity levels, producing 99.7%-pure antimony flake with faster, cleaner furnace throughput; exclusive technology licensing covers North America and Australia.