Episode summary
US Antimony, Americas Gold and Silver to Work on New Processing Site | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec · Guests: Gary Evans, Paul Andre Huet
Summary
United States Antimony and Americas Gold and Silver are forming a joint venture to build an antimony processing plant in Idaho, with the facility to be 51% owned by Americas Gold and Silver and 49% owned by US Antimony. The guests said the deal is meant to create a domestic supply chain for antimony, which they argued the U.S. badly lacks, and to support critical-mineral production for defense and industrial uses.
One guest said the project should start construction within 90 days and be completed in about a year, using permits already in hand and technology US Antimony developed in Bolivia. The other guest said the mine site already produces silver, copper, lead, gold and antimony, and that the new plant would help the U.S. work toward domestic antimony supply after years of relying on foreign sources.
They also tied the joint venture to a broader U.S. push for critical-mineral stockpiles and price support. One guest said US Antimony already has a $245 million contract with the government and is seeking additional backing, while the other said a price floor around $20 per pound would help shield domestic producers from Chinese oversupply. Both argued that China’s export restrictions have made antimony a national-security issue and that allies need supply too, not just the U.S.
Key takeaways
- The new Idaho processing plant is planned as a 51/49 joint venture between Americas Gold and Silver and US Antimony, respectively.
- One guest said construction should begin within 90 days and the plant should be operational in about a year.
- US Antimony said it already has a $245 million government contract to deliver antimony ingots and is seeking further support.
- The guests argued a roughly $20-per-pound floor could protect domestic antimony producers from Chinese dumping.
- The deal is being framed as a national-security play because antimony is used in military and industrial products and the U.S. lacks sufficient domestic supply.
Notable quotes
“this joint venture uh we've been working on it actually not that long to be very honest”
“This allows us to supply a product antimony to the US um from the beginning right to the end”
“we need 50 million pounds of antimony peranom and we're not even close to producing it”
“we are the stockpiler for the government and we're the only approved company”
“I think something in the $20 per pound range would be a great price floor that protects us”
How the episode opens
Bloomberg Audio Studios podcasts radio news. — You're listening to Bloomberg Business Week with Carol Masser and Tim Stenc on Bloomberg Radio. — Well, you might recall earlier this month, Bloomberg exclusively reporting out that President Trump was set to launch a strategic critical mineral stockpile with 12 billion in seed money. All in a bid to insulate manufacturers from supply shocks as the US works to slash its reliance on Chinese rare earths and other metals. Meanwhile, you see a lot of companies doing deal in the space. Tim,
Yeah, on that today, shares of America's Gold and Silver Corporation rallied as much as 8% this after the minor said it would partner with United States Antimony to construct and operate an antimony processing plant in Idaho. Some details here and then we're going to get to the conversation. facility will be 51% owned by America's Gold and Silver and 49% owned by US Antimony. It'll be located in the Silver Valley in Idaho.
All right, so let's get to it. Great to have with us Gary Evans, chairman and CEO of United States Antimony Corporation. It's a $ 1.1 billion market cap minor producer and seller of Antimony products.
It's based in Montana. Stock is up 66% year-to date, about 21% of the float short. Also with us is Paul Andre Huitt.
He is chairman and CEO of the $2.6 $6 billion market cap. Precious metal miner based in Ontario, Canada. It is America's gold and silver corporation.
That company's shares are up about 61% year-to date and we've seen it move in today's session. Gary and Paul both joining us here in studio. Welcome, welcome, welcome.
Tell us about this joint venture um the financial aspects, how it actually logistically works down um and what it means in terms of critical minerals in the US and just kind of elsewhere.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- critical minerals supply
- antimony processing
- hydromet facility
- us domestic metals policy
- national security metals
Companies and tickers mentioned
- US Antimony Corporation
- Americas Gold and Silver Corporation
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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