American Tungsten & Antimony enters DOE talks for US$18 million award

US$18 million in potential DOE funding is under negotiation for American Tungsten & Antimony's antimony smelting project, the company said Aug. 19.

The award would fund the Advancing Smelting Capacity for Expansion and National Dominance in Antimony (ASCEND-Sb) project, one of nine selected nationally under a US$162 million DOE program announced Aug. 18, according to the company's statement. The program is administered by the DOE's Advanced Mining and Mineral Production Technologies Office under the Infrastructure Investment and Jobs Act Mines & Metals Capacity Expansion Program.

American Tungsten & Antimony (ASX: AT4; OTCQB: ATALF) said its wholly owned U.S. subsidiary, Trigg Minerals (USA) LLC, will work with the DOE to negotiate the scope and terms of the funding package, including potential allocation to other assets such as the Del Sol Refinery. The company cautioned that selection does not constitute a commitment by the DOE to provide funding, which will only be obligated after negotiations conclude and an award agreement is executed.

The company holds the flagship Antimony Canyon Project in Utah, tungsten projects across Utah and Nevada including Tennessee Mountain, Fraction Lode, Nightengale, Sage Hen and Dutch Mountain, and has agreed to acquire the Del Sol Refinery in Nevada and the White Spar Antimony Mine in Arizona. Antimony and tungsten are both designated critical minerals for U.S. security, defense and advanced manufacturing.

Antimony, used in flame retardants, munitions and semiconductors, is a mineral the U.S. imports almost entirely, with China the dominant global producer. The DOE's US$162 million program, spread across nine projects, signals a broader push to rebuild domestic critical mineral processing capacity under the Infrastructure Investment and Jobs Act. American Tungsten & Antimony trades with a market capitalization of about A$133 million and average daily volume near 18 million shares, according to TipRanks data.

The DOE selection is the first step toward securing a grant under the government program as the company advances its mine-to-metal American supply chain. A successful award would materially support the company's strategy to build U.S. antimony smelting capacity and strengthen its position as a Western supplier, with implications for investors tracking government-backed critical mineral initiatives. Negotiations are expected to proceed over the coming months, and the company said it will provide updates as talks progress.

This article is for informational purposes only and does not constitute investment advice.