United States Antimony Corporation (NYSE:UAMY) shares are rising Tuesday after the company announced a collaboration with the U.S. Defense Logistics Agency (DLA).
What Happened: U.S. Antimony has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) sole-source contract by the DLA Strategic Materials for up to $245 million. The contract is for the purchase of antimony metal ingots to aid in the replenishment of the National Defense Stockpile.
The contract represents the next phase of a growing collaboration between U.S. Antimony and the Department of Defense (DOD)/DLA, which began accelerating in late 2024. Fulfillment will begin with the first delivery order, which is anticipated this week. Both of U.S. Antimony’s North American smelting facilities already have the capability to produce antimony metal ingots that meet the government’s stringent specifications.
Gary Evans, chairman and CEO of U.S. Antimony, highlighted the strategic importance of the contract, noting that it dwarfs the company’s total revenue for 2024 of $14.9 million. Evans also said U.S. Antimony is the only fully integrated antimony operation outside of China.
“It’s incredibly meaningful for all our employees to play such a strategic role in strengthening our nation’s defense readiness and having the knowledge, expertise, and history that USAC can and will deliver under our contractual obligations,” Evans said.
USAC operates North America’s only two antimony smelters that have been processing antimony for decades. The company continues to expand its sources for procuring antimony ore feedstock from countries around the world, along with developing its own antimony-bearing mineral acreage positions in Alaska and Montana.
UAMY Price Action: U.S. Antimony shares were up 14.74% at $7.40 at the time of publication on Tuesday, according to Benzinga Pro. U.S. Antimony stock has surged over 300% year-to-date.
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