United States Antimony Corporation (UAMY): Analyse du Pestle [Jan-2025 MISE À JOUR]

Dans le paysage complexe de l'exploitation des métaux spécialisés, United States Antimony Corporation (UAMY) se dresse à une intersection critique de la dynamique mondiale des ressources, de l'innovation technologique et de l'intendance environnementale. As rare metal supply chains become increasingly complex and strategically significant, this comprehensive PESTLE analysis unveils the multifaceted challenges and opportunities facing UAMY's operations, exploring how political regulations, economic fluctuations, societal expectations, technological advancements, legal frameworks, and environmental considerations collectively shape the company's Trajectoire stratégique sur le marché de l'antimoine concurrentiel.

United States Antimony Corporation (UAMY) - Analyse du pilon: facteurs politiques

Les réglementations minières des États-Unis ont un impact sur les opérations d'extraction de l'antimoine

La loi minière américaine de 1872 continue de régir les activités d'extraction minérale d'Uamy. Les frais de conformité pour la société en 2023 étaient estimés à 2,3 millions de dollars pour l'adhésion réglementaire.

Zone de conformité réglementaire	Coût annuel
Permis environnementaux	$750,000
Règlements sur la sécurité	$850,000
Autorisations d'utilisation des terres	$700,000

Tensions géopolitiques affectant les chaînes d'approvisionnement en métaux rares

Les perturbations mondiales de la chaîne d'approvisionnement de l'antimoine en 2023 ont abouti à 17,4% ont augmenté les défis de l'approvisionnement pour uamy.

• La Chine contrôle environ 84% de la production mondiale d'antimoine
• Les importations américaines d'antimoine ont diminué de 22,6% en 2023
• Les tensions géopolitiques avec la Chine augmentent les risques de la chaîne d'approvisionnement

Politiques commerciales influençant la dynamique international du marché de l'antimoine

Les tarifs de l'article 232 sur les matériaux d'antimoine importés ont imposé un fardeau de coût supplémentaire de 25% pour les stratégies d'intervention internationales d'Uamy.

Impact de la politique commerciale	Conséquence financière
Tarifs d'importation	1,2 million de dollars supplémentaires
Restrictions d'exportation	Réduction des revenus de 680 000 $

Exigences gouvernementales de conformité environnementale pour les activités minières

L'Agence de protection de l'environnement (EPA) a obligé des normes environnementales plus strictes en 2023, obligeant l'UAMY à investir 3,1 millions de dollars dans les émissions et les technologies de gestion des déchets.

• Objectifs obligatoires de réduction des émissions de carbone: 15% d'ici 2025
• Coûts de conformité à la décharge de l'eau: 450 000 $ par an
• Investissements d'infrastructure de gestion des déchets: 1,7 million de dollars

United States Antimony Corporation (UAMY) - Analyse du pilon: facteurs économiques

Les prix des produits de base de l'antimoine fluctuant affectant les revenus de l'entreprise

Selon le London Metal Exchange, les prix de l'antimoine ont fluctué entre 8 000 $ et 11 500 $ par tonne métrique en 2023. Le chiffre d'affaires de l'United Antimony Corporation est directement corrélé avec ces variations de prix.

Année	Gamme de prix antimoine (USD / MT)	Revenus annuels UAMY
2022	$9,200 - $10,500	14,3 millions de dollars
2023	$8,000 - $11,500	15,7 millions de dollars

Production d'antimoine intérieure limitée créant des opportunités de marché

Les statistiques de production intérieure d'antimoine américain révèlent des lacunes du marché importantes:

• Production d'antimoine intérieure: 0,1% de l'offre mondiale
• Consommation annuelle de l'antimoine américain: 3 500 tonnes métriques
• Dépendance à l'importation: 99,9% des exigences de l'antimoine

Défis d'investissement dans le secteur de l'exploitation des métaux spécialisés

Métrique d'investissement	Valeur 2023
Prix ​​de l'action UAMY	$0.35 - $0.55
Capitalisation boursière	48,6 millions de dollars
Dépenses d'exploration	2,1 millions de dollars

Incitations économiques potentielles pour l'exploration stratégique des métaux

Incitations du gouvernement fédéral et des États pour l'exploration stratégique des métaux:

• Crédits d'impôt: jusqu'à 20% des frais d'exploration
• Subventions d'exploration minérale: 500 000 $ maximum
• Recherche et déduction de taxe de recherche: 15% des dépenses admissibles

United States Antimony Corporation (UAMY) - Analyse du pilon: facteurs sociaux

Conscience croissante de l'importance minérale critique dans la technologie

Selon le résumé des matières premières minérales 2023 de l'US Geological Survey, l'antimoine est classé comme un minéral critique pour les technologies émergentes. Les études de marché indiquent une croissance annuelle de 14,2% de la sensibilisation critique aux minéraux parmi les secteurs de la technologie de 2020 à 2023.

Secteur technologique	Demande d'antimoine (2023)	Taux de croissance projeté
Électronique	1 250 tonnes métriques	8.5%
Énergie renouvelable	750 tonnes métriques	12.3%
Semi-conducteur	450 tonnes métriques	15.7%

Défis de la main-d'œuvre dans le recrutement des mines spécialisés

Le Bureau of Labor Statistics rapporte une baisse de 6,2% de la main-d'œuvre minière spécialisée entre 2019-2023. L'âge moyen des professionnels des mines spécialisés est de 47,3 ans, indiquant des défis de transition générationnels importants.

Catégorie de compétences	Main-d'œuvre actuelle	Difficulté de recrutement
Génie géologique	3 750 professionnels	High (défi de recrutement à 72%)
Traitement des minéraux	2 500 professionnels	Medium (58% de défi de recrutement)

Perceptions de la communauté de l'exploitation minière de l'impact environnemental

Les données de l'agence de protection de l'environnement montrent que 62% des communautés locales à proximité des sites miniers expriment des préoccupations concernant la durabilité de l'environnement. Les enquêtes sur les parties prenantes indiquent une demande croissante de pratiques de gestion de l'environnement transparentes.

Préoccupation environnementale	Perception de la communauté (%)	Efforts d'atténuation
Contamination de l'eau	48%	Systèmes de filtration avancés
Dégradation des terres	35%	Programmes de réadaptation
Qualité de l'air	17%	Technologies de contrôle des émissions

Demande croissante de sourcing minéral durable et éthique

L'indice d'approvisionnement durable 2023 révèle que 68% des entreprises technologiques hiérarchisent les minéraux critiques d'origine éthique. La transparence de la chaîne d'approvisionnement de l'United States Antimony Corporation a évalué à 76% la conformité aux normes internationales d'approvisionnement éthique.

Métrique d'approvisionnement éthique	Pourcentage de conformité	Benchmark de l'industrie
Normes de travail	82%	75%
Pratiques environnementales	71%	65%
Transparence de la chaîne d'approvisionnement	76%	70%

United States Antimony Corporation (UAMY) - Analyse du pilon: facteurs technologiques

Technologies avancées d'exploration et d'extraction pour l'exploitation antimoine

United Antimony Corporation a investi 3,2 millions de dollars dans les technologies avancées de cartographie géologique à partir de 2024. La société utilise des systèmes de balayage géologique à base de drones haute résolution avec une précision de 0,05 mètres pour l'exploration minérale.

Type de technologie	Investissement ($)	Niveau de précision
Cartographie géologique du drone	3,200,000	0,05 mètre
Analyse minérale spectrale	1,750,000	Précision de 99,7%
Algorithmes d'exploration dirigés par l'IA	2,500,000	Fiabilité de la prédiction de 85%

Systèmes de surveillance numérique Amélioration de l'efficacité opérationnelle

UAMY a mis en place des systèmes de surveillance numérique en temps réel avec une amélioration de l'efficacité opérationnelle de 22,5%. L'infrastructure numérique coûte 4,6 millions de dollars et couvre 7 sites miniers aux États-Unis.

Composant du système de surveillance	Coût ($)	Couverture
Réseau de capteurs IoT	1,200,000	7 sites miniers
Plateforme d'analyse de données en temps réel	1,800,000	Surveillance 24/7
Système de maintenance prédictive	1,600,000	Fiabilité à 95% de l'équipement

Applications émergentes de l'antimoine dans les secteurs des énergies renouvelables

UAMY a identifié 3 applications clés en énergie renouvelable pour l'antimoine, la valeur marchande potentielle atteignant 127,5 millions de dollars d'ici 2026. La recherche se concentre sur les technologies de la batterie solaire et les systèmes de stockage d'énergie du réseau.

Application d'énergie renouvelable	Valeur marchande projetée ($)	Niveau de préparation à la technologie
Technologie de la batterie solaire	62,500,000	Trl 6
Stockage d'énergie de grille	45,000,000	Trl 5
Conversion d'énergie thermique	20,000,000	Trl 4

Recherche sur des méthodes d'extraction minière plus durables

UAMY a alloué 5,7 millions de dollars à la recherche sur l'extraction durable, ciblant 35% de l'impact environnemental et 40% de conservation de l'eau dans les processus minières.

Domaine de recherche sur le développement durable	Investissement ($)	Réduction / amélioration de la cible
Technologies de recyclage de l'eau	2,100,000	40% de conservation de l'eau
Méthodes d'extraction à faible impact	1,900,000	Réduction de l'impact de l'environnement de 35%
Réactifs minières biodégradables	1,700,000	25% de réduction des déchets chimiques

United States Antimony Corporation (UAMY) - Analyse du pilon: facteurs juridiques

Processus d'autorisation environnementale strictes pour les opérations minières

Répartition de la conformité des permis environnementaux:

Type de permis	Agence de réglementation	Temps de traitement moyen	Coût estimé
Permis de loi sur l'eau propre	EPA	18-24 mois	$75,000 - $250,000
Permis d'extraction de surface	Agence de réglementation des mines d'État	12-36 mois	$50,000 - $500,000
Permis de qualité de l'air	Département de l'environnement de l'État	6-12 mois	$40,000 - $150,000

Conformité aux réglementations fédérales et étatiques sur la sécurité minière

Statistiques de violation de la MSHA pour UAMY:

Année	Violations totales	Significatif & Violations substantielles	Pénalités monétaires
2022	14	3	$42,500
2023	11	2	$35,200

Conteste juridique potentiel lié à la protection de l'environnement

Litige environnemental Overview:

• Des poursuites environnementales en attente: 2
• Coûts de défense juridique estimés: 350 000 $
• Rangement potentiel de règlement: 500 000 $ - 1,2 million de dollars

Considérations de la propriété intellectuelle pour les innovations technologiques miniers

Portfolio de propriété intellectuelle de l'UAAMY:

Type IP	Nombre de brevets	Coût annuel de protection IP	Gamme d'année d'expiration
Brevets du processus d'extraction	4	$85,000	2030-2035
Technologie d'extraction	2	$45,000	2032-2037

United States Antimony Corporation (UAMY) - Analyse du pilon: facteurs environnementaux

Minimiser les perturbations écologiques dans les zones d'exploration minière

Les États-Unis Antimony Corporation opèrent avec une perturbation des terres de 157,3 acres sur ses sites miniers. Les efforts de récupération de l'environnement se concentrent sur 42,6 acres de terres réhabilitées en 2023.

Métrique environnementale	Données quantitatives	Année
Troubles totaux des terres	157,3 acres	2023
Remise en état	42,6 acres	2023
Taux de restauration de la végétation	27.1%	2023

Mettre en œuvre des pratiques de gestion des déchets durables

La société génère 3 245 tonnes de déchets miniers par an, 62,4% étant recyclés ou réutilisés.

Métrique de gestion des déchets	Données quantitatives	Année
Déchets minières totaux	3 245 tonnes	2023
Taux de recyclage des déchets	62.4%	2023
Réduction des déchets dangereux	18.3%	2023

Réduire l'empreinte carbone dans les processus d'extraction de l'antimoine

Les émissions de carbone des processus d'extraction d'Uamy totalisent 24 567 tonnes métriques CO2 équivalent en 2023, avec une réduction ciblée de 7,2% d'ici 2025.

Métrique de l'empreinte carbone	Données quantitatives	Année
Émissions totales de carbone	24 567 tonnes métriques CO2E	2023
Consommation d'énergie renouvelable	16.7%	2023
Réduction des émissions ciblées	7.2%	2025

Surveillance et atténuer les risques potentiels de contamination environnementale

La surveillance environnementale révèle 3 sites de contamination potentiels, avec des investissements de correction de 1,2 million de dollars en 2023.

Métrique du risque environnemental	Données quantitatives	Année
Sites de contamination potentiels	3 emplacements	2023
Investissement de remédiation	$1,200,000	2023
Points de surveillance de la qualité de l'eau	12 sites	2023

United States Antimony Corporation (UAMY) - PESTLE Analysis: Social factors

Antimony Demand Tied to Safety and Regulation

You might not realize it, but a significant chunk of United States Antimony Corporation's (UAMY) core business is driven by non-negotiable workplace safety standards. Antimony trioxide is a critical component in flame retardants (FRs), which are mandatory for protective clothing and materials in many industrial settings, particularly those regulated by the Occupational Safety and Health Administration (OSHA).

In the US, the demand for antimony in flame retardants is a massive anchor for the market. While global estimates put flame retardant use at around 45% of total antimony consumption, US domestic use for flame retardants was approximately 39% in 2024, a figure that remains a huge driver for UAMY's product line. This isn't a discretionary purchase; it's a compliance requirement, which makes this revenue stream defintely more stable than other industrial uses.

Here's the quick math on the demand drivers:

US Antimony Consumption Segment (2024e)	Estimated Percentage of Total	Key Social/Regulatory Driver
Flame Retardants	39%	OSHA regulations (e.g., 1910.269 for fire-resistant clothing)
Metal Products (incl. Ammunition)	40%	National Security/Defense Logistics Agency (DLA) contracts
Nonmetal Products (Ceramics, Glass, Rubber)	21%	Consumer product safety and industrial material standards

Compliance is a constant revenue source.

Public and Political Push for Domestic Onshoring

The social and political climate around critical minerals has shifted dramatically in your favor. China's export restrictions on antimony, which began in late 2024, created a national security panic that directly benefits domestic producers like UAMY. You are now operating at the intersection of national security and economic independence, which brings significant government support.

The US government has committed over $2 billion toward antimony projects to secure a domestic supply chain. This political push culminated in UAMY securing a landmark $245 million contract with the Defense Logistics Agency (DLA) in 2025 to supply antimony metal ingots for the National Defense Stockpile over a five-year period. This DLA contract doesn't just promise revenue; it signals a long-term, strategic partnership with the government, reducing your reliance on volatile global supply chains.

The onshoring trend is a powerful tailwind for your business.

Community Relations and Labor in Montana and Alaska

Operating in resource-rich but socially sensitive regions like Montana and Alaska means your social license to operate (SLO) is just as important as your mining permits. The Thompson Falls, Montana, facility is undergoing a 500% capacity expansion, aiming for 500-600 tons per month output in 2026. This expansion, coupled with the new Stibnite Hill mining operation, creates high-value, specialized metallurgical jobs, which is a key social benefit in the local community.

However, the Alaska operations face a different challenge: the CEO noted that the main 'hold up' on permits is the concerns of 'local citizens.' This is a clear risk. If you don't manage local community relations carefully in Alaska, permitting delays could push back the timeline for bringing high-grade domestic ore online, forcing you to continue relying on importing material from over 10 different countries. You need to invest in local engagement to convert community skepticism into support.

Zeolite Product Line: Environmental and Agricultural Diversification

Your Bear River Zeolite (BRZ) subsidiary in Idaho offers a crucial social and environmental hedge against the cyclical nature of the antimony market. Zeolite is a high-quality clinoptilolite mineral used in environmental cleanup and agriculture, aligning perfectly with modern sustainability trends.

This product line provides tangible social benefits:

• Environmental Remediation: Used for water filtration, sewage treatment, and even nuclear waste cleanup.
• Agricultural Efficiency: Acts as a soil amendment to gradually release nitrogen, conserving fertilizer and minimizing groundwater contamination.
• Animal Health: Included in animal feed to improve gut health, feed conversion, and reduce ammonia odor in confinement systems.

This diversification is financially significant, too. Increased volumes in the zeolite business contributed to the company's strong sales growth, with total sales for the first nine months of 2025 reaching $26.2 million. Plus, the BRZ operation has proven and probable reserves of 5.127 million short tons, which translates to a resource life of over 400 years at current production rates. That's multi-generational resource security.

United States Antimony Corporation (UAMY) - PESTLE Analysis: Technological factors

Thompson Falls, Montana Refinery Expansion and Capacity

The core of United States Antimony Corporation's (UAMY) technological strategy in 2025 is the aggressive expansion of its processing infrastructure to meet soaring domestic demand, largely driven by defense needs. The Thompson Falls, Montana, refinery expansion is the centerpiece of this effort, budgeted at under $15 million and scheduled for completion by the end of 2025. This project is designed to increase the facility's throughput capacity by a factor of six, or over 400%.

This capital investment will boost the Thompson Falls facility's capacity to over 300 standard tons per month. Combined with the Madero Smelter in Mexico, the company is targeting a total refining capacity of 500 metric tons (1.1 million pounds) per month by the end of the fiscal year. That's a huge step. This technological upgrade is defintely a necessary response to the significant supply chain risks in the critical minerals market.

Refinery Expansion Metric (2025)	Thompson Falls Facility	Total UAMY Refining Capacity Target
Capacity Increase	Over 400% (Six-fold)	N/A
Target Monthly Capacity (End of 2025)	Over 300 standard tons	500 metric tons (1.1 million pounds)
Capital Expenditure Budget	Under $15 million	N/A

Focus on High-Purity, Military-Grade Antimony Production

The technological focus is shifting toward high-value, high-specification products, specifically military-grade materials. The Thompson Falls expansion includes the addition of MIL SPEC antimony trisulfide production capabilities. This is critical because United States Antimony Corporation is currently the only North American supplier of antimony trisulfide approved by the United States Defense Logistics Agency (DLA) for use in military primers.

This technical capability has translated directly into a massive government contract. The U.S. Defense Logistics Agency awarded the company a $245 million contract to supply antimony ingots to the National Defense Stockpile. The initial purchase order alone was for $10 million. This shows how specialized processing technology is a direct gateway to high-margin, strategic revenue streams.

Diversification into Cobalt and Tungsten

Technological diversification is a key risk mitigation strategy. United States Antimony Corporation is actively expanding its focus beyond antimony to include other critical minerals like Cobalt and Tungsten. This is a smart move to capture the growing North American demand for non-Chinese-sourced critical mineral supply.

The company executed a strategic acquisition of the Fostung Property in Ontario, Canada, in June 2025. The cash purchase price was $5 million, but management currently values the property at over $100 million due to its estimated 12.4 million tonnes of inferred resources. The technology here is in the fast-track development plan, which aims for an early open-pit operation and utilizes existing refining capacity in the area to accelerate production.

Utilizing Contract Flotation Mills for Montana Ore

To quickly monetize lower-grade domestic ore and reduce reliance on imported feedstock, the company is using a technological workaround: contract processing. They secured a lease agreement to operate the Contact Mill, a 700 ton per day flotation facility in Philipsburg, Montana. This mill uses a dual flotation circuit to upgrade both foreign and domestic ores.

This process is essential for achieving the high-quality concentrate needed for military applications. For example, as of November 24, 2025, approximately 800 tons of raw antimony ore have been extracted from the Stibnite Hill mine and transported for crushing and flotation at the contract mill. The goal is to produce a concentrate that meets minimum military specifications for antimony trisulfide.

• Process lower-grade ores to military-spec concentrate.
• Contract mill capacity is 700 tons per day.
• 800 tons of raw ore moved from Stibnite Hill in less than 45 days.
• Thompson Falls processed 1,010 tons of feedstock in the first nine months of 2025.

Here's the quick math: the 800 tons moved in under two months is already a significant input, representing over 79% of the total 1,010 tons of feedstock processed at Thompson Falls during the entire first nine months of 2025. That's how you ramp up domestic supply using existing technology.

United States Antimony Corporation (UAMY) - PESTLE Analysis: Legal factors

New Independent Board Member and Finance Committee Appointed in November 2025, Strengthening Governance

You need to know that United States Antimony Corporation (UAMY) significantly tightened its corporate governance structure in late 2025, a critical move for a company scaling up on major government contracts.

Effective November 24, 2025, the Board of Directors appointed Jon R. Marinelli as an Independent Director and, crucially, as Chairman of a newly formed Finance Committee. This appointment increased the board size to seven members, with five now being independent, which is a strong signal to the market about improving oversight. Mr. Marinelli brings over 25 years of capital markets experience, having advised on more than $285 billion in M&A, equity, and debt transactions, a skillset defintely needed for managing the company's new financial scale.

Operations Subject to Strict Military Specifications and Quality Control for DLA Contracts

The company's most significant legal and operational risk/opportunity is its relationship with the U.S. government. United States Antimony Corporation secured a $245 million sole-source, five-year contract from the Defense Logistics Agency (DLA) in September 2025 to supply antimony metal ingots for the National Defense Stockpile. This is a game-changer, representing approximately 16 times the company's entire 2024 revenue of $14.9 million.

The sole-source nature of the contract is a direct result of the company's ability to meet the DLA's stringent military specifications (Mil-Spec). This means quality control is not just a business metric; it's a mandatory legal requirement for continued revenue. They are the only North American supplier approved by the DLA for antimony trisulfide used in military primers.

DLA Contract Metric	Value/Status (2025)	Legal/Operational Impact
Contract Value	Up to $245 million	Revenue is legally secured over 5 years.
Contract Duration	Five-year, Indefinite Delivery Indefinite Quantity (IDIQ)	Provides long-term demand visibility and stability.
Supply Requirement	Antimony metal ingots and antimony trisulfide	Requires continuous compliance with Mil-Spec standards.
Supplier Status	Sole-Source North American Supplier	Indicates a unique legal/regulatory position in the US critical minerals supply chain.

Permitting Delays in Alaska Mining Activities Were a Factor in 2025

While the DLA contract is a major win, regulatory hurdles in domestic mining remain a near-term risk. You saw this clearly in Alaska during 2025.

The company filed mining permits with the Alaska Department of Natural Resources (DNR) in early May 2025 to begin operations on state-owned land. Due to public input and regulatory assessment, the permitting process was significantly delayed, pushing the timeline back by about a month. The company did not successfully receive all requested permits until late September 2025. This delay was a major factor preventing a full ramp-up of domestic ore production before the winter season, forcing a greater reliance on international feedstock in the interim.

International Operations (Mexico, Canada) Exposed to Foreign Regulatory and Tax Regimes

To meet the massive new demand, United States Antimony Corporation must navigate a patchwork of foreign legal and regulatory systems across its international footprint.

The company operates a smelter in Madero, Mexico, which restarted in April 2025 and processes international ore shipments from countries like Bolivia, Chad, Peru, and Australia. The DLA contract is flexible, allowing the finished antimony ingots to be supplied from either the US or the Mexico facility, which is a key regulatory approval that reduces supply chain risk. In Canada, the June 2025 acquisition of the Fostung Tungsten Property in Ontario requires compliance with Canadian mining standards, specifically National Instrument 43-101 (NI 43-101), which governs public disclosure of scientific and technical information for mineral projects.

This dual-country operation means managing complex compliance requirements:

• Complying with Mexican environmental and labor laws for the Madero smelter.
• Adhering to Canadian securities and technical reporting standards (NI 43-101) for the Fostung property.
• Managing the tax implications of cross-border material flow and profit repatriation between the US, Mexico, and Canada.

United States Antimony Corporation (UAMY) - PESTLE Analysis: Environmental factors

The environmental factors for United States Antimony Corporation (UAMY) present a clear duality: significant operational risks tied to weather and permitting, but also a strategic, high-margin opportunity in environmentally-friendly products that diversifies revenue away from mining volatility.

Montana mining operations at Stibnite Hill are weather-sensitive, facing shutdowns due to snow and freezing conditions.

The operational reality of mining in the Rocky Mountains means UAMY's production is inherently seasonal. The Stibnite Hill antimony project in Montana, which resumed mining activities in late 2025, faces a predictable annual constraint. As of late November 2025, the company anticipated that the project would likely be shut down soon until Spring thaw because of predicted snow and freezing conditions.

This weather dependency creates a stop-start production cycle. To put this into perspective, the company had successfully transported approximately 800 tons of raw antimony ore from the mountain in less than 45 days prior to the predicted shutdown. This material must now be processed over the winter, underscoring the need for strong inventory management to smooth out supply to customers like the U.S. Defense Logistics Agency (DLA).

Past US domestic antimony mining halted partly due to environmental challenges.

The history of antimony production in the U.S. is a cautionary tale about the intersection of economics and environmental compliance. The cessation of past domestic antimony mining was due, in part, to environmental and commercial viability concerns. For example, the last major domestic producer, the Sunshine Mine in Idaho, shut down with ongoing environmental concerns like the potential for mine runoff to damage river ecosystems being a factor.

Today, UAMY operates under a much stricter regulatory environment. Domestic extraction is still constrained by environmental permitting challenges and the strict permitting processes that can significantly delay mine development, a key risk for any U.S. critical mineral project. UAMY's new 'cut and cover' surface mining method at Stibnite Hill, approved by the Montana Department of Environmental Quality in October 2025, attempts to mitigate some of these issues by immediately covering excavated panels with overburden, a key environmental measure.

Global supply is constrained by stricter environmental regulations in China, which benefits UAMY's domestic production.

The global antimony market has been fundamentally reshaped by China's tightening grip on exports, often framed by a mix of resource nationalism and stricter environmental enforcement (like closing illegal or environmentally damaging mines). This has created a massive opportunity for UAMY as the only North American supplier of antimony trisulphide approved by the DLA.

The impact of China's export controls, effective from September 2024, is stark:

• Antimony exports from China plummeted by 57% year-over-year in Q1 2025.
• Chinese antimony prices surged to 230,000 yuan ($31,509) per ton in April 2025, marking a 65% annual increase.

This price surge and supply volatility, driven by China's policies, make UAMY's domestic, environmentally-compliant supply chain a strategic national asset, justifying a premium for its product and supporting its significant new multi-year supply contracts.

Zeolite sales of $2.65 million in the first nine months of 2025 provide a revenue stream from an environmentally-friendly product.

UAMY's zeolite business provides a critical, environmentally-aligned revenue stream that helps offset the cyclical and regulatory risks of antimony mining. Zeolite is an industrial mineral used in various environmental cleanup applications, including water filtration, sewage treatment, and nuclear waste remediation.

For the first nine months of the 2025 fiscal year, UAMY's zeolite sales totaled $2.65 million. This represents a 16% increase, or $375 thousand, over the same period in the prior year. This is a defintely solid, non-antimony revenue source.

Here's the quick math on UAMY's Q1-Q3 2025 revenue split:

Product Line	Revenue (9 Months Ended Sept 30, 2025)	Year-over-Year Change
Antimony Sales	$23.57 million	Up 235%
Zeolite Sales	$2.65 million	Up 16%
Total Revenue	$26.23 million	Up 182%

The zeolite segment, while smaller, is a stable, growing source of revenue from a product with a positive environmental profile, which is a key factor for long-term corporate social responsibility (CSR) and investor relations.