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United States Antimony kicks off mining operations in Montana
MINING.COM· 2025-10-17 16:06
Core Viewpoint - United States Antimony Corp. has initiated exploration and bulk sampling at the Stibnite Hill mine in Montana, having received necessary permits from the Department of Environmental Quality, marking a significant step in its operations [1][4][7]. Company Operations - The Stibnite Hill mine is adjacent to USAC's Thompson Falls smelter, which processes third-party ore into antimony products and precious metals, making it one of only two smelters in North America owned by the company [2]. - The Thompson Falls smelter has a production capacity of approximately 15 million pounds of antimony oxide or 5 million pounds of antimony metal annually, with ongoing expansion efforts to increase this capacity [3]. Mining Activities - With DEQ approvals, USAC can now process its own mined material, having already transported several loads of antimony ore to a flotation mill for crushing and sampling [4][6]. - The commencement of mining at Stibnite Hill establishes Montana as the base for USAC's first fully integrated antimony operation, with the company acquiring mineral leases and properties in the area [6][7]. Market Performance - Despite the positive developments, USAC's shares fell over 10% amid a broader market selloff, bringing the stock price down to $10.95 and the market capitalization to $1.52 billion [5]. Future Prospects - USAC had initially anticipated its first product from Alaska operations, which cover over 35,000 acres with 120 mining claims, but faced a five-month delay in state permit approvals [8]. - The company secured a $245 million contract from the US Defense Logistics Agency for the supply of antimony metal ingots for the national defense stockpile, indicating strong demand for its products [8].
Nova Minerals Engaged Ahead of High-Level Critical Minerals Talks with U.S. President Donald Trump
Globenewswire· 2025-10-14 10:30
Core Insights - Nova Minerals Limited has been invited to provide an update on its Estelle Gold and Critical Minerals Project in Alaska ahead of a high-level meeting between Australian Prime Minister Anthony Albanese and U.S. President Donald Trump, focusing on critical minerals and strategic resource cooperation [1][9] - The Estelle Project is strategically important due to its significant gold and antimony resources, with the U.S. Department of War awarding Nova a US$43.4 million grant to support the development of a domestic antimony supply chain [3][5][10] Strategic Engagement with Governments - Nova is preparing to present details on its U.S. investments, including the Estelle Project's key minerals and planned expansions, highlighting its strategic importance in the context of U.S.-Australia collaboration on critical minerals [4][9] - The Estelle Project is located in Alaska's Tintina Gold Belt, recognized for its substantial gold and antimony assets, with antimony recently added to the U.S. Department of the Interior's Draft 2025 Critical Minerals List [4][10] Project Overview - The Estelle Project covers 514 km² and contains one of the world's largest undeveloped gold deposits, featuring over 20 advanced gold and antimony prospects across a 35 km mineralized corridor [6][19] - The project is positioned near significant infrastructure and aligns with regional development initiatives, including a proposed antimony refinery at Port MacKenzie, which has secured a 42.81-acre land use permit [7][19] Market Context - Antimony is increasingly recognized as a critical mineral for defense and high-tech applications, with growing demand driven by its use in munitions and energy systems [10] - The U.S. government's support for domestic critical minerals projects, including funding and advanced permitting, underscores the strategic importance of Nova's plans for antimony production [10][9]