Americas Gold and U.S. Antimony Form JV to Build Galena Antimony Plant

Americas Gold and Silver and United States Antimony have signed a definitive joint venture to build and operate an antimony processing plant on lands at the Galena Complex in Idaho’s Silver Valley, with Americas owning 51% of the JV and US Antimony 49%. The companies said Americas will contribute the site under existing operating permits at Galena, and Americas material from its mines will have priority as feedstock for the new plant.

Paul Andre Huet, chairman and CEO of Americas Gold and Silver, framed the deal as a financial milestone: “Today’s Agreement with U.S. Antimony to build an antimony processing facility at the Company’s Galena Complex is a major milestone in unlocking significant value for Americas shareholders,” he said. He also described the JV as a way for Americas to capture downstream processing value that the company said is currently lost under offtake terms for by-product antimony in Galena silver concentrate.

Under the Agreement, Americas will sell antimony feed mined at Galena to the JV “on market terms,” and the company said it will be paid for that feed once the JV facility is operational. “Additionally, Americas will also capture 51% of the profits from the processing side of the JV business, providing our shareholders with strong exposure to downstream profits from antimony production that are not currently realised,” Huet said in the companies’ public statements.

Governance combines a majority economic interest for Americas with an operational role for US Antimony. The parties said construction and processing will be overseen by representatives of each company, and industry reporting identifies US Antimony as the managing member while noting that major decisions will be decided by a committee with equal representation from both partners. Americas Gold and Silver trades as TSX: USA and NYSE American: USAS; United States Antimony is listed as UAMY on NYSE American.

Industry descriptions of the planned plant characterize it as a “state-of-the-art hydromet processing facility” to be located immediately adjacent to Americas’ active silver, copper and antimony mines at Galena. Americas says the JV Facility will also have the potential to process material from other mines beyond Galena, giving the venture optional third-party feed opportunities in addition to Americas’ priority material.

The companies highlighted national-security and industrial uses for antimony in explaining the JV. “Antimony is a silvery, brittle metal used in flame retardants, specialty alloys, semiconductors and certain batteries. When combined with other materials, it strengthens metals, enhances heat resistance and improves electrical performance, making it essential in electronics, automotive manufacturing and national defense. Its strategic value also stems from military applications, including ammunition, infrared equipment and protective materials. Antimony is increasingly important for energy storage and grid‑stability systems as the nation expands renewable power infrastructure.”

Americas’ leadership also quantified the potential upside: CEO Paul Huet estimated $50–$70 million in value “currently being left on the table over the next two years at current prices” under existing offtake arrangements. The companies did not disclose capital costs, construction schedule, processing capacity, or expected job counts in the announcement; those financial and permitting details remain outstanding. How quickly the Galena JV advances, the final capital expenditure and the facility’s throughput will determine the scale of economic impact in Wallace and the Silver Valley and the degree to which the project shifts U.S. reliance on imported antimony.