United States Antimony Corporation (“USAC”, OTCBB “uamy.ob”) reported that they have received the necessary permits to set up the 150 metric ton per day mill at San Luis de la Paz in Guanajuato, Mexico. The new mill site includes approximately one hundred acres with adequate water and electricity. It is convenient to a major highway and railroad to accept rock from both the Soyatal antimony property and the Los Juarez antimony-silver-gold deposit of which USAC controls, as well as antimony from other mines in Mexico, Central America, and South America.
USAC operates a smelting facility in Coahuila, Mexico processing antimony from Soyatal and other deposits in Mexico, Central America, Canada, and South America. The smelter has just been permitted to allow the construction of a fourth furnace that should bring the smelter capacity to more than 4,000,000 pounds of oxide per year.
The CEO of USAC, John Lawrence, explained that when the “Corral Blanco” flotation mill starts production, it would supply the Company’s smelter with feed that will result in a fully integrated operation that will make USAC independent of Chinese supplies. China controls 92% of the world supply of antimony. Lawrence further pointed out that “Mexico was the third largest producer of antimony in the world during World War II with an annual production of approximately 30,000,000 pounds per year” and that “in recent years the country produced almost no antimony, because there were no smelting or milling facilities for antimony.”
Antimony metal prices have hit new all-time record highs as a result of the Chinese supply issue. U.S. quotations for antimony metal are $8.20 per pound. USAC’s production remains in a “sold out” condition.Forward Looking Statements: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.
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