Aug. 19, 2024 10:24 AM ET
United States Antimony Corporation (UAMY) StockPPTA
By: Carl Surran, SA News Editor
United States Antimony (NYSE:UAMY) +5% in early trading Monday and up more than 40% since August 15 after China said it will impose export controls on some antimony products starting September 15, adding to measures imposed by the government since last year to curb shipments of strategic minerals.
Antimony is used mostly as a flame retardant, but also has become increasingly strategic because of its use in military equipment, such as infrared missiles, nuclear weapons and night vision goggles, and as a hardening agent for bullets and tanks.
China – whose new limits apply to antimony products including ore, ingots and oxide – is the largest producer of antimony, accounting for 48% of mine production in 2023, followed by Tajikistan at 25%, according to data from the U.S. Geological Survey.
Perpetua Resources (PPTA), which is building a U.S. antimony and gold project with support from the Department of Defense, had planned to begin production by 2028, but is studying ways to produce antimony faster in response to the Chinese curbs; the stock has gained nearly 30% in the past three trading sessions.
Original Article: https://seekingalpha.com/news/4141485-united-states-antimony-soars-40-plus-in-three-days-as-china-to-curb-exports
