United States Antimony Corp (UAMY.A) said on Monday it has restarted operations at its Madero smelter plant in Mexico, over a year after the critical mineral miner stopped activities in Latin America.
WHY IT'S IMPORTANT
In December last year, China banned exports to the U.S. of the critical minerals gallium, germanium and antimony, amid an escalating trade and tech war between the world's two biggest economies.
China produced almost half of the global supply of antimony in 2023 and prices of the mineral have soared in the wake of its heavy export restrictions, disrupting global supply chains.
U.S. President Donald Trump has also been pushing to boost domestic production of critical minerals such as antimony, to offset China's near total control of the sector.
The mineral is widely used in ammunition, infrared missiles, nuclear weapons and night-vision goggles, as well as in batteries and photovoltaic equipment.
CONTEXT
Last year in March, United States Antimony had said it would discontinue all operational activities in Latin America and sell its subsidiary in Mexico.
The decision was made following a review of the financial performance of those assets, the unit's negative cash flow and low antimony prices.
WHAT'S NEXT
The company said it has begun processing the first antimony ore acquired from international sources at the Madero smelter. The second and third shipments are also expected to arrive at the facility from next week onwards.
U.S. Antimony said it aims to produce roughly 200 tons of antimony per month from the Madero smelter prior to the end of 2025.
