United States Antimony Provides Operational Update on Madero, Mexico Smelter

About this update from United States Antimony Corporation

DALLAS, TX / ACCESS Newswire / January 22, 2025 / United States Antimony Corporation ("USAC," or the "Company"), (NYSE:UAMY) is providing an operational update today on its Madero, Mexico Smelter. Last week, a management team comprised of five members of the company, traveled to our 100% owned Madero Smelter, located in the state of Coahuila in Mexico. The purpose of the trip was to perform a complete operational review and assessment of improvements required to get this facility up and running again as quickly as possible. Initial plans are for the Madero Smelter to process antimony ore in an amount approximating 100 tons per month. The first international supply of raw antimony ore contracted by the Company is on the water and scheduled to arrive in Mexico sometime in early March 2025. There currently exists a total of 17 furnaces at this facility, three large and 14 small furnaces. After meeting with several different qualified Mexican contractors this past week, repairs and refurbishment of at least six of these furnaces will be made over the next 30 days. Additional replacement and repairs include air compressors, construction of air control plenum systems (tin huts over furnaces), tilting of certain furnaces, etc. While the Madero Smelter is currently operational, part of this capital expenditure program, estimated to be less than $1 Million, is also geared to more streamline antimony feedstock in a faster, more mechanical, and less human interaction manner. This will allow the Company to gradually increase throughput in the future. Commenting on this update, Mr. John C. Gustavsen, President of the Antimony Division of the Company, stated, "We have a great seasoned working team assembled who are excited to complete the refurbishing of the Madero Smelter. We have already rehired field personnel who are crucial in achieving our work program objectives. We anticipate being fully prepared when our first international shipments begin arriving in early March. Worldwide antimony prices continue to reach all-time highs with current prices exceeding $20.00 per pound. We are working as quickly as possible in achieving our corporate goals of beginning to meet our nation's overall antimony demands." About USAC United States Antimony Corporation and its subsidiaries in the U.S. and Mexico ("USAC," the "Company," "Our," "Us," or "We") sell processed antimony, zeo...

View stock analysis, news, and events for United States Antimony Corporation