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United States Antimony Announces Critical Mineral Acquisition Fostung Tungsten Property Ontario, Canada
"The Critical Minerals and ZEO Company" DALLAS, TX / ACCESS Newswire / June 27, 2025 / United States Antimony Corporation ("USAC," "US Antimony," the "Company"), (NYSE American:UAMY), announced today that it has completed an acquisition of 100% of ...
About this update from United States Antimony Corporation
[{"type":"text","content":""The Critical Minerals and ZEO Company"","length":49,"tagName":"p"},{"type":"text","content":"DALLAS, TX / ACCESS Newswire / June 27, 2025 / United States Antimony Corporation ("USAC," "US Antimony," the "Company"), (NYSE American:UAMY), announced today that it has completed an acquisition of 100% of the ownership interest of the Fostung Properties which cover fifty (50) single-cell mining claims or 1,114 hectares located approximately 70 kilometers west-southwest of Sudbury, Ontario, Canada, near the town of Espanola. The total purchase price of the tungsten properties was $5 Million in cash in addition to a ½ of 1% (0.005) Net Smelter Return royalty (NSR) interest to be divided equally between the sellers; Transition Metals Corp (XTM-V) and 1930153 ON Ltd (a Private Company). There exists an additional NSR of 1% (0.010) held by a previous owner.","length":795,"tagName":"p"},{"type":"text","content":"TUNGSTENTungsten's unique properties, which include a high melting point, density, hardness, and conductivity, make it indispensable in many sectors which include:","length":168,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Aerospace (kinetic energy penetrators)","length":38,"tagName":"p"}]},{"val":[{"type":"text","content":"Defense (shielding of tanks and counterweights)","length":47,"tagName":"p"}]},{"val":[{"type":"text","content":"Electronics (semiconductors, x-ray tubes)","length":41,"tagName":"p"}]},{"val":[{"type":"text","content":"Tooling & Manufacturing (high speed cutting tolls and drills)","length":65,"tagName":"p"}]},{"val":[{"type":"text","content":"Energy (Electrodes and arc welding)","length":35,"tagName":"p"}]},{"val":[{"type":"text","content":"Medical (Radiation shielding)","length":29,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":255,"olType":false},{"type":"text","content":"SUPPLYChina controls the vast majority of worldwide tungsten supply and controls 80-85% of global processing capacity. China also consumes a large share of the tungsten it produces, further tightening global availability. There has been no known commercial production of tungsten concentrates in either the USA or Canada since 2016, nine years ago. A tungsten shortage has begun developing worldwide as record tungsten new prices continue their upward trend....