US Antimony receives $27M Defense Production Act funding

The US Defense Department, in alignment with the Trump administration’s critical minerals strategy, has made a $27 million investment into United States Antimony (NYSE-A: UAMY).

The funds would allow the company to enhance, innovate and expand domestic extraction, processing, and refinement of antimony, a statement released by the now-called Department of War said.

The US government considers antimony as a mineral that’s critical to its economic and national security, for its uses in many modern industrial applications. China currently controls the vast majority of the worldwide tungsten supply and about 80%-85% of global processing capacity. The US, meanwhile, has not produced any tungsten concentrates since 2016.

At the moment, the Texas-based US Antimony is the only fully integrated producer of this mineral outside of China and Russia, operating a large smelting facility in Montana capable of producing 5 million lb. of metals.

“For too long, DOW has depended on overseas sources for its critical mineral production,” Mike Cadenazzi, Assistant Secretary of War for Industrial Base Policy, said. “This investment will address risk in one of our most critical munitions and materials supply chains.”

Funds for expansion, exploration

US Antimony is expected to use the funds modernize and expand its existing Montana facility to increase its capacity to refine and produce antimony necessary for flame retardants, batteries, munitions, and other defense applications.

The investment is also intended to support the company’s plans to establish domestic antimony excavation and extraction in Alaska, where it has assembled a 35,000-acre land package comprising over 120 mining claims.

By securing domestic feedstock, US Antimony has positioned itself to enable full vertical integration across the supply chain from ore extraction to mid-stream floatation capabilities to finished antimony products, it said.

Shares of US Antimony were little moved on Thursday. Trading at $9.70 apiece in New York, the company has a market capitalization of approximately $1.37 billion.

The $27 million investment would come from the Defense Production Act (DPA) Title III funds, part of the Ukraine Supplemental Appropriations Act of 2022. It is one of three investments made by the DPA Purchases Office since the beginning of fiscal 2026

Deployment of the funds was initially targeted for last year but was delayed due to the US government shutdown, the longest in history.