# United States Antimony Corporation

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/fi/companies/United States Antimony Corporation).

## Overview

United States Antimony Corp. produces and sells antimony products, precious metals, and zeolite through operations in the United States and Mexico, with additional mining claims and development properties in Alaska, Montana, and Ontario. The company is organized around two reportable segments: antimony and zeolite.

## Products & services

• Antimony metal ingots
• Antimony oxide and antimony trisulfide
• Precious metals by-products
• Zeolite products
• Ore processing and smelting services

- **Antimony products** (85%) — Processed antimony forms including metal ingots, oxide, and trisulfide for industrial and defense uses.
- **Precious metals by-products** (5%) — Gold and silver recovered alongside antimony processing and sold as by-products.
- **Zeolite products** (10%) — Mined and processed zeolite used in filtration, absorbents, and industrial applications.

- Antimony metal ingots
- Antimony oxide and antimony trisulfide
- Precious metals by-products
- Zeolite products
- Ore processing and smelting services

## Customers

The company sells antimony products to industrial customers and to government-related buyers that need material for strategic stockpiles and defense supply chains. Its zeolite products are sold to customers using zeolite in filtration, environmental, and industrial applications. Customer demand is tied to end-market needs for specialty minerals, supply security, and product purity.

- **U.S. government and defense procurement** (primary) — Buys antimony metal ingots for the National Defense Stockpile and related strategic needs.
- **Industrial antimony customers** (primary) — Buys antimony oxide, ingots, and trisulfide for manufacturing and specialty applications.
- **Zeolite customers** (secondary) — Buys zeolite for filtration, absorbent, and industrial uses.
- **Precious metals buyers** (secondary) — Buys gold and silver recovered as by-products from processing operations.

- U.S. government procurement buyers for strategic antimony supply
- Industrial customers using antimony in downstream products
- Customers needing antimony oxide, ingots, or trisulfide
- Zeolite buyers in filtration and industrial applications
- Precious-metals buyers for recovered gold and silver

## Geography

Operations are centered in the United States and Mexico, with antimony processing facilities in Montana and Mexico and zeolite operations in Idaho. The company also holds mining claims and leases in Alaska, Montana, and Ontario, Canada, which expand its geographic footprint but are not yet active operating centers. Geography matters because the business depends on cross-border ore sourcing, processing logistics, and access to U.S. government supply programs.

- United States is the core operating base and primary sales market
- Montana hosts antimony processing and concentration facilities
- Mexico supports antimony processing through USAMSA facilities
- Idaho is the base for Bear River Zeolite operations
- Alaska and Ontario are development areas, not yet active operations

## Strategy

The company is focused on expanding antimony supply capacity, securing long-duration customer contracts, and improving cash generation from its mineral processing assets. It is also pursuing acquisitions, mining claims, and partnerships that could broaden its ore sources and product mix over time.

- **Expand antimony supply to strategic and industrial customers** (short-term) — Long-duration supply contracts can stabilize demand and support scale in a niche mineral market.
- **Develop and integrate new mining and processing assets** (medium-term) — Additional claims and facilities can broaden ore access and reduce reliance on third-party supply.
- **Improve cash flow and operating flexibility** (short-term) — Working capital and capital access are important in a commodity-processing business with inventory and delivery timing needs.

- Build long-term antimony supply relationships
- Use government and strategic stockpile demand to anchor volumes
- Expand processing and mining footprint in North America
- Develop Alaska, Montana, and Ontario claims over time
- Support growth through acquisitions and partnerships

## Risks

The business is exposed to commodity price volatility, supply-chain disruption, and execution risk in sourcing compliant ore and delivering product under contract. It also faces geopolitical, trade-policy, and government-procurement risk because a meaningful part of the opportunity set depends on cross-border materials and strategic supply relationships.

- **Commodity price volatility in antimony** [high] — Antimony pricing affects sales values and can pressure economics under long-term or fixed-price arrangements.
- **Non-domestic ore supply disruption** [high] — The company relies on foreign ore purchases that can be delayed, misgraded, or fail to arrive after payment.
- **Government contract performance and policy risk** [high] — The DLA contract depends on delivery timing, compliance, and procurement policy continuity.
- **Trade policy and tariff exposure** [medium] — Tariffs or retaliatory tariffs can increase import costs and reduce demand for imported ore or finished product.

- Antimony price swings can change margins and contract economics
- Non-domestic ore sourcing creates shipping and quality risks
- Government procurement depends on policy and contract execution
- Trade restrictions and tariffs can raise input and import costs
- New facilities and claims may take time to become productive

## Accounting

Revenue recognition is important because the company has long-term supply contracts, including the DLA arrangement, where revenue is recognized only when delivery orders are fulfilled. Inventory, ore purchases, and production timing can create quarter-to-quarter swings in reported results, while by-product gold and silver sales are included in the antimony segment but may be separately disclosed. The company also has judgment-heavy areas around investment valuation, capitalized assets, and potential impairment of mining claims or facilities if projects do not advance as expected.

- **Revenue recognition on long-term supply contracts** — The DLA contract had no revenue recognized during the period despite being awarded.
- **Inventory and production timing** — Quarterly comparability can be distorted by shipment timing and stockpile builds.
- **By-product sales presentation** — Segment economics can look different depending on whether by-products are included.
- **Asset impairment and valuation** — Carrying values of mining properties and facilities may be at risk of write-downs.

- Revenue is tied to delivery orders under supply contracts
- Inventory timing affects reported sales and working capital
- Gold and silver by-product sales are embedded in antimony segment
- Mining claims and facilities may require impairment testing
- Held-to-maturity and equity investments are fair-value sensitive

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*Last updated: 2026-04-29T05:05:25.124263+00:00*