Antimony Corporation (UAMY) Reaps Rewards as Export Controls Tighten on Critical Mineral

Antimony Corporation (UAMY) saw its fiscal Q1 2026 revenue climb to $187 million, up from $139 million in the same period last year, driven by tightening global export controls on antimony. The U.S. Department of Energy and Department of Defense jointly imposed restrictions on antimony exports from key producing nations in February 2026, citing national security concerns over critical mineral supply chains. The restrictions have disrupted established supply routes, particularly from China and Russia, which previously supplied over 60% of global antimony output. As a result, UAMY’s refined antimony shipments increased by 42% in Q1, and the company secured new long-term contracts with defense contractors, including Raytheon and Lockheed Martin, for specialized alloy production. Prices for refined antimony spiked to $12.80 per pound in March 2026—up 51% from the $8.50 average in early 2025—reflecting tight supply and rising demand. The commodity’s price volatility has also influenced broader markets: crude oil futures (CL=F) rose 2.3% on the week, while the CBOE Volatility Index (^VIX) climbed to 19.7, indicating elevated investor uncertainty amid geopolitical supply risks. The shift has benefited not only UAMY but also other domestic producers of strategic minerals, including those involved in lithium and rare earths. Analysts note that the export controls may accelerate U.S. investment in domestic mining and refining infrastructure, potentially reshaping the global supply chain for defense-critical materials.