American Tungsten & Antimony has signed an agreement to acquire the Del Sol Refinery in Nevada and the White Spar Antimony Mine in Arizona through a combination of cash and stock. The transaction is intended to support the company’s strategy of developing a vertically integrated U.S. supply chain for antimony and tungsten products.
Del Sol is a constructed and permitted antimony refinery located in a market with limited domestic processing capacity. American Tungsten & Antimony plans to use feedstock from White Spar and its Antimony Canyon project to produce antimony metal flake and eventually pursue military-specification antimony products in the United States.
The company also plans to evaluate an expansion of Del Sol’s hydrometallurgical infrastructure to produce ammonium paratungstate, commonly known as APT, an intermediate material used in tungsten manufacturing. This would support a broader mine-to-processing strategy intended to reduce reliance on foreign suppliers for minerals used in defense, electronics, aerospace and advanced manufacturing.
American Tungsten & Antimony is developing a portfolio that includes Antimony Canyon in Utah and tungsten projects such as Tennessee Mountain, Fraction Lode, Nightengale, Sage Hen and Dutch Mountain. The refinery and mine acquisitions would provide a central processing component within the company’s proposed hub-and-spoke operating model.
KEY QUOTES:
“The Del Sol Refinery is a constructed and permitted antimony refinery in a market with minimal domestic capability.”
“The mine, with initial feedstock from White Spar and Antimony Canyon, can provide AT4 with the ability to produce antimony metal flake and a roadmap into military specification antimony products domestically in the U.S. Based on Del Sol’s hydromet infrastructure, we are immediately planning for expansion into tungsten APT production with an aim of reducing U.S. reliance on this critical metal from Foreign Entities of Concern.”
Casper Adson, CEO of American Tungsten & Antimony
“Our closest U.S.-listed peer, United States Antimony Corp., relies substantially on ore sourced from outside the U.S. We believe that Del Sol has the ability to deliver to us a pathway to similar refining capability, with feed sourced from U.S. domestic sources, thereby allowing us to develop a true mine-to-metal American supply chain.”
“This comes at a time when a Presidential Executive Order has mandated the defense industry to procure antimony, tungsten and other critical minerals, and to shift their procurements to domestic suppliers where possible.”
Tim Morrison, Executive Chair of American Tungsten & Antimony
