UAMY

UAMY sits at the intersection of two powerful structural tailwinds - critical mineral supply security and the energy transition. Antimony is classified as a critical mineral by the US Department of Defense because it is essential in armor-piercing ammunition, night-vision equipment, and flame retardants, yet China controls roughly 80-90% of global refined supply.

Any US defense-supply-chain reshoring initiative or export restriction from China creates an immediate pricing and demand windfall for UAMY as the sole domestic primary producer. On the battery side, antimony-based sodium-ion and antimony-sulfur batteries are emerging as a lower-cost alternative to lithium for grid storage, opening a potentially enormous new demand vertical that did not exist five years ago.

The zeolite segment provides revenue diversification into water treatment and agriculture, both with secular growth drivers independent of metal prices. With multiple processing facilities already permitted and operating across Montana (Thompson Falls smelter) and Mexico (Los Juarez and Puerto Blanco mines), UAMY can scale output faster than greenfield competitors.

A re-rating toward strategic-materials multiples - or a government offtake agreement - could be a step-change catalyst for the stock.