North American producer Americas Gold and Silver Corporation has entered into a definitive agreement with US Antimony, forming a Joint Venture through operating subsidiaries to construct and operate an antimony processing plant in Idaho’s Silver Valley.
The JV, which will be 51% owned by Americas and 49% by US Antimony, will provide a mine-to-finished antimony production solution to secure the supply chain for the critical mineral within the United States.
“Today’s agreement with US Antimony to build an antimony processing facility at the company’s Galena Complex is a major milestone in unlocking significant value for Americas shareholders,” said Paul Andre Huet, chairman and CEO of Americas Gold and Silver.
“The JV will provide Americas the opportunity to leverage our position as the largest antimony producer in the United States to become a significant player in the downstream antimony market and realize value being left on the table under our current offtake terms for by-product antimony contained in the silver concentrate produced from Americas Galena Complex.”
US Antimony Chairman and CEO Gary C. Evans added, “Since this project scope directly aligns with the interests and objectives of the various federal government agencies regarding its overall critical mineral objectives, we have already prepared the necessary paperwork for submittal to hopefully achieve government funding.”
Governance of the JV is exercised through a six-member management committee, with three representatives appointed by Americas and three by US Antimony.
Source: Americas Gold and Silver