Antimony Resources Corp advanced its U.S. critical minerals strategy this week, securing a post-performance tax reduction tied to its Antimony Canyon Project in Garfield County, Utah. The company expects to benefit from a 40% state tax credit under Utah’s Rural Economic Development Tax Increment Financing program, which is designed to support rural investment.
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Management highlighted that rising global demand for antimony and tungsten, used in defense, renewable energy and high-tech applications, underpins its portfolio strategy. Antimony Canyon, together with the Tennessee Mountain project in Nevada and the Dutch Mountain processing mill in Utah, is being positioned as a prospective non-Chinese source of these critical minerals.
Antimony Resources also reported firm commitments for an A$10 million placement supported by institutional and sophisticated investors to advance its hub-and-spoke tungsten and antimony development plan in the U.S. The funding is expected to accelerate drilling at Antimony Canyon, initiate a maiden diamond drilling program at Tennessee Mountain and support refurbishment of the Dutch Mountain mill.
The company indicated that Tennessee Mountain hosts prior high-grade tungsten intercepts and an untested strike length of more than 5 kilometers, pointing to further exploration potential. The broader strategy is to consolidate and restart tungsten and antimony assets in Utah and Nevada, building a vertically integrated, domestically focused antimony and tungsten platform.
Policy and stakeholder engagement featured prominently, with Antimony Resources hosting a government-level critical minerals event in Cedar City, Utah. The event drew senior U.S. Government and state officials, including Governor Spencer Cox, and focused on domestic critical mineral supply chains, national security and responsible resource development.
Media coverage from ABC4 News highlighted the Antimony Canyon Project and a proposed antimony processing facility in Cedar City as contributors to a domestic antimony supply chain. The company outlined a phased development strategy aimed at restoring U.S. antimony supply, which is currently dominated by overseas sources, while delivering regional investment and job creation.
Governance and regulatory capabilities were strengthened through the appointment of former U.S. Interior Secretary David Bernhardt as Chairman of the Strategic Advisory Board. His experience in federal land access, permitting and regulatory affairs is expected to support navigation of U.S. permitting regimes and engagement with policymakers as projects advance.
On the capital markets front, Antimony Resources reiterated plans for a sponsored Level 1 ADR program with Deutsche Bank and a proposed Nasdaq Capital Market listing targeted for 2026. These initiatives, combined with tax incentives, new funding and increased policy visibility, collectively enhance the company’s strategic positioning, though ultimate outcomes will depend on successful project execution and market conditions.
Overall, the week marked a constructive period for Antimony Resources Corp as it combined financial, policy and governance milestones to advance its U.S.-focused antimony and tungsten strategy and align more closely with national critical minerals priorities.