United States Antimony (NYSE‑A: UAMY) raised its 2026 revenue outlook by 25% to $125 million (C$175 million) after starting mining at the historical Stibnite Hill site in Montana, a step it says will feed its Thompson Falls smelter and cut reliance on third‑party ore.
Early material from Stibnite Hill carries grades sufficient for profitable mining without long lead times or large capital spending, the company said on Thursday. More than 250 tonnes have been hauled to a mill near Radersburg for crushing, sampling and assays.
“When we began operations on Stibnite Hill earlier this year, we anticipated finding antimony deposits, but nothing like we are experiencing. We anticipate margins on our own mined feed to be about three times higher than buying from third parties,” Chairman and CEO Gary Evans said.
The push comes as North America seeks secure supplies of antimony for defence and industrial uses. USAC says it’s the only North American company approved to supply antimony trisulphide meeting U.S. Defense Logistics Agency specifications and notes its Thompson Falls and Madero plants are among the few smelters on the continent capable of processing the metal.
Shares slipped 0.9% in New York on Thursday, valuing UAMY at about $1.15 billion.
Integrated operation
The Thompson Falls, Mont., smelter can produce about 15 million lb. of antimony oxide or 5 million lb. of antimony metal a year and an expansion now underway will lift capacity. The company plans to bring new furnaces online in January next year.
The Stibnite Hill site sits near the smelter in western Montana. The company expects to source similar-quality material from Alaska, where it now plans to start mining in the second quarter of 2026. If that proceeds as expected, USAC said it is to consider a substantial expansion of its Madero, Mexico smelter to handle additional international feed.
Larvotto bid
USAC holds 10% of Larvotto Resources (ASX: LRV) and said it won’t re-enter talks after Larvotto rejected its $723 million (US$470 million) proposal this week.
The company maintains that combining Larvotto’s potential output with USAC’s smelting and refining network would strengthen Western supply chains and reduce reliance on Chinese processing.
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