United States Antimony Corporation, or USAC, was incorporated in Montana in
January 1970 to mine and produce antimony products. In December 1983, we suspended
antimony mining operations but continued to produce antimony products from domestic
and foreign sources. In April 1998, we formed United States Antimony SA de CV
or USAMSA, to mine and smelt antimony in Mexico. Bear River Zeolite Company
or BRZ, was incorporated in 2000, and it is mining and producing zeolite in
southeastern Idaho. On August 19, 2005, USAC formed Antimonio de Mexico, S.
A. de C. V. to explore and develop antimony and silver deposits in Mexico. Our
principal business is the production and sale of antimony, silver, gold, and
zeolite products. On May 16, 2012, we started trading on the NYSE MKT under
the symbol UAMY.
Our antimony smelter and precious metals plant is located in the Burns Mining
District of Sanders County, Montana, approximately 15 miles west of Thompson
Falls, MT. We hold 2 patented mill sites where the plant is located. We have
no "proven reserves" or "probable reserves" of antimony,
as these terms are defined by the Securities and Exchange Commission. Environmental
restrictions preclude mining at this site.
"Zeolite" refers to a group of industrial minerals that consist of
hydrated aluminosilicates that hold cations such as calcium, sodium, ammonium,
various heavy metals, and potassium in their crystal lattice. Water is loosely
held in cavities in the lattice. BRZ zeolite is regarded as one of the best
zeolites in the world due to its high CEC of approximately 180-220 meq/100 gr.,
its hardness and high clinoptilolite content, its absence of clay minerals,
and its low sodium content.
Our exploration, development and production programs conducted in the United
States are subject to local, state and federal regulations regarding environmental
protection. Some of our production and mining activities are conducted on public
lands. We believe that our current discharge of waste materials from our processing
facilities is in material compliance with environmental regulations and health
and safety standards. The U.S. Forest Service extensively regulates mining operations
conducted in National Forests. Department of Interior regulations cover mining
operations carried out on most other public lands. All operations by us involving
the exploration for or the production of minerals are subject to existing laws
and regulations relating to exploration procedures, safety precautions, employee
health and safety, air quality standards, pollution of water sources, waste
materials, odor, noise, dust and other environmental protection requirements
adopted by federal, state and local governmental authorities. We may be required
to prepare and present data to these regulatory authorities pertaining to the
effect or impact that any proposed exploration for, or production of, minerals
may have upon the environment. Any changes to our reclamation and remediation
plans, which may be required due to changes in state or federal regulations,
could have an adverse effect on our operations. The range of reasonably possible
loss in excess of the amounts accrued, by site, cannot be reasonably estimated
at this time.
We accrue environmental liabilities when the occurrence of such liabilities
is probable and the costs are reasonably estimable. The initial accruals for
all our sites are based on comprehensive remediation plans approved by the various
regulatory agencies in connection with permitting or bonding requirements. Our
accruals are further based on presently enacted regulatory requirements and
adjusted only when changes in requirements occur or when we revise our estimate
of costs to comply with existing requirements. As remediation activity has physically
commenced, we have been able to refine and revise our estimates of costs required
to fulfill future environmental tasks based on contemporaneous cost information,
operating experience, and changes in regulatory requirements. In instances where
costs required to complete our remaining environmental obligations are clearly
determined to be in excess of the existing accrual, we have adjusted the accrual
accordingly. When regulatory agencies require additional tasks to be performed
in connection with our environmental responsibilities, we evaluate the costs
required to perform those tasks and adjust our accrual accordingly, as the information
becomes available. In all cases, however, our accrual at year-end is based on
the best information available at that time to develop estimates of environmental
liabilities.
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