United States Antimony executes agreement on international shipments of antimony

United States Antimony (UAMY) has completed contractual negotiations and executed a definitive agreement for new international shipments of antimony from the country of Australia. In conjunction with this antimony ore being shipped via containers, the Company also announced the plans to restart its existing antimony smelter located in Madero, Mexico. This facility was shut down in March 2024 due to a lack of economic antimony material sourced from mines previously controlled by the Company’s Mexican subsidiary that were also located in Mexico. The Company is in the process of making certain capital improvements to the Madero Antimony Smelter in amounts currently estimated to be less than $1M. Repairs to rotary furnaces will require complete refractory relining along with maintenance work on burners and other drive parts. These improvements will allow a greater flow and processing of material along with more end products for our customers. The current engineered capacity of the Madero smelter is approximately 200 tons per month. A portion of the inbound international shipments announced today should arrive at the Mexican west coast port of Manzanillo beginning in March 2025. Current plans are the containers have already been loaded for an approximate 75-day ocean voyage.