Mentioned:
Two publicly traded mining companies are partnering up on a new joint venture facility. And they’re aiming to scale up antimony supply in the United States of America.
What’s happening
- United States Antimony Corporation (NYSE: UAMY) and Americas Gold and Silver (NYSE: USAS) have formed a new joint venture partnership to build a hydrometallurgical plant in Idaho to process antimony, copper and silver concentrates
By the numbers:
- Americas Gold and Silver will own 51% of the new joint venture and United States Antimony Corporation will own 49%
Why it matters:
- The new deal between United States Antimony Corporation and Americas Gold and Silver represents one of the first commercial scale hydrometallurgical processing plants of its kind in North America for antimony, silver and copper
Going deeper:
- Americas Gold and Silver already has water and tailings permits approved at their Idaho site and will also be supplying the new joint venture with concentrate from their Galena mine that contains significant amounts of antimony
- United States Antimony Corporation will contribute their proprietary hydrometallurgical process to the new joint venture and will design, build and operate the new processing plant in Idaho
