United States Antimony Corporation.

Fair Pay & Worker Respect

Mining and smelting are high-risk industries for worker safety and labor rights, making the company directly responsible for maintaining safe conditions and equitable pay, though the core business model itself is neutral regarding these practices. Based on the provided evidence for United States Antimony Corporation (UAMY.NYSE), the following assessments were made: - **Collective Bargaining Share**: The company explicitly states in its Placement Agency Agreements (Articles

and ) that none of its employees or its subsidiaries' employees are members of a union and that the company is not a party to any collective bargaining agreement. This results in a tier of 0 (N/A) as there is no unionized workforce to assess. - **Labor Violation Incidents**: The company represents in legal filings (Articles and ) that it is in compliance with all U.S. federal, state, local, and foreign laws regarding employment practices, wages, and hours. Furthermore, it states that no material labor disputes exist or are imminent. While the company maintains a Code of Ethics and an anonymous third-party reporting hotline (Articles , , and ), there are no reports of significant infractions or fines in the past year, supporting a tier of -20. - **Other KPIs**: There is no quantitative evidence regarding living wage coverage, CEO-to-median pay ratios, safety incident rates (TRIR), pay equity, worker engagement scores, turnover rates, or specific health insurance coverage percentages. While the company mentions the existence of a Compensation Committee and employee benefits (including stock options), these lack the specific metrics required for tiering under the rubric.

Fair Trade & Ethical Sourcing

As a mining and smelting company, USAC operates in a sector with high inherent risks regarding supply chain transparency and labor practices in mineral extraction. While the company is not inherently harmful, the nature of its global operations (including mining in Mexico) requires rigorous oversight to ensure ethical sourcing, making the value applicable but neutral until specific behavioral evidence is evaluated. United States Antimony Corporation (USAC) demonstrates a foundational commitment to ethical conduct through its corporate policies, though specific quantitative supply chain metrics are largely undisclosed. Regarding 'forced_child_labour_incidents', the company is tiered at -10. Evidence from its 2024 and 2025 proxy statements (Articles

and ) indicates zero reported incidents of forced or child labor. The company maintains a corporate Code of Ethics and an Insider Trading Policy designed to deter wrongdoing and promote ethical conduct, which are strictly enforced for directors, officers, and employees. For 'ethical_clause_coverage', the company is tiered at -50. confirms that USAC maintains a 'Code of Business Conduct and Ethics' and a 'Conflict of Interest Policy' that explicitly apply not only to internal staff but also to business entities such as vendors and enterprise customers. While the exact percentage of contracts containing these clauses is not specified, the policy's stated application to all vendors suggests a structured approach to enforceable ethical terms across the supplier base. Other KPIs such as 'fair_trade_cert_share', 'audit_frequency', and 'traceability_coverage' were omitted due to a lack of company-specific quantitative data. While industry reports (Articles , , and ) note a general sector-wide trend toward blockchain-enabled traceability and third-party audits (e.g., The Copper Mark) for critical minerals like antimony, there is no specific evidence that USAC has implemented these systems or achieved specific certification levels at this time.

Honest & Fair Business

As a mining and smelting company, USAC's core business does not inherently advance or harm the value of Honest & Fair Business; performance in this area is determined by behavioral factors such as regulatory compliance, transparency, and governance practices rather than the nature of the extracted minerals. United States Antimony Corporation (USAC) demonstrates a mix of established ethical policies and operational governance challenges. Regarding regulatory compliance, the company has not incurred major ethics-related fines in the past three years, though its Bear River Zeolite facility received four MSHA citations in Q1 2026 (rectified within 48 hours).

It also successfully resolved a long-standing tax dispute with the Mexican SAT in 2026. However, the company disclosed material weaknesses in internal controls over financial reporting as of March 31, 2026, due to a small accounting staff, and the filing of a Form 10-K/A indicates at least one material restatement or amendment in the last three years. Governance policies are robust on paper: USAC maintains a Code of Business Conduct and Ethics, an Insider Trading Policy, and a Clawback Policy for executive compensation. It operates a 24/7 anonymous third-party whistleblower hotline (FraudHL), which meets the criteria for initial proactive reporting infrastructure. Its anti-corruption framework includes third-party due diligence, particularly relevant given its operations in Mexico, though it lacks the highest-tier automated monitoring evidence. Board independence is a point of concern; while the company targets NYSE independence standards, recent proxy data shows only 60% of the board (3 out of 5 directors) were deemed independent as of June 2025, with a later expansion to 7 members (5 independent, or ~71%). Audit coverage is high, with the 2025 balance sheet derived from audited financial statements and oversight by independent firms (Assure CPA and Sadler, Gibb & Associates), though the company has noted internal control deficiencies.

No War, No Weapons

Antimony is a critical material used in the production of military-grade flame retardants, ammunition primers, and various defense-related metallurgical alloys, creating an inherent link to the defense supply chain. United States Antimony Corporation (UAMY) is heavily integrated into the defense supply chain, as evidenced by its core business activities and recent contracts. Regarding 'revenue_arms_contracts', the company secured a five-year sole-source contract from the US Defense Logistics Agency (DLA) worth up to $245 million.

Given that the company's 2024 revenue was $14.9 million, this single defense contract represents a value nearly 17 times its annual revenue, placing it in the highest tier for defense-derived income. In terms of 'dual_use_technology', the company's R&D and production are significantly focused on materials with military applications. It produces antimony metal specifically for ordnance and antimony trisulfide for military ammunition and explosives. Furthermore, its acquisition of the Fostung tungsten project involves a metal where approximately 10% of global demand is driven by military uses (ammunition and armor). The company explicitly states its smelters are capable of meeting 'stringent military specifications.' For 'zero_exposure_controversial_weapons', the company cannot demonstrate zero exposure; rather, it is a direct supplier of components for 'ordnance' and 'ammunition primers.' While the articles do not explicitly name 'banned' weapons like cluster munitions, the company's primary marketing and strategic alignment toward munitions and the Defense Production Act, combined with the production of explosives and ordnance materials, confirms active participation in lethal weapon supply chains.

Planet-Friendly Business

Mining and smelting are inherently resource-intensive and environmentally disruptive activities that involve significant land disturbance, energy consumption, and potential pollution risks, which conflict with the proactive environmental stewardship required for this value. United States Antimony Corporation (UAMY) is a mining and smelting company with specific environmental data available through regulatory filings and corporate reports. Regarding emissions, the Montana Department of Environmental Quality (DEQ) estimated the facility's annual Scope 1 greenhouse gas emissions at 0.01753 million metric tons of CO2e (approximately 17,530 tCO2e) following its expansion.

This footprint is notably low for the industrial sector, placing it in the ≤0.01 M tCO2e tier for Scope 1, though Scope 2 and 3 data remain undisclosed. In terms of environmental compliance, the company has an exemplary record. DEQ inspections conducted in 2014, 2017, 2019, 2022, and 2023 confirmed full compliance with air quality permits, with only a minor administrative note regarding late report submissions in 2014. No major violations or fines were recorded across these periods. For environmental impact assessments (EIAs), the evidence shows the company undergoes formal reviews for major capital projects, such as the 2025 Environmental Assessment (EA) for its Thompson Falls smelter expansion. However, the frequency of these assessments is limited to major site developments (1-2 per year), rather than a universal or automated screening process for all operational changes. While the company highlights the environmental benefits of its 'Bear River Zeolite' for nuclear remediation and its proposed hydrometallurgical refinery (intended to reduce impacts compared to traditional smelting), there is no evidence of science-based targets (SBTi), net-zero commitments, or specific renewable energy percentages. Water use is described as a 'dry system' for processing, but no quantitative water-to-revenue metrics are provided.

Respect for Cultures & Communities

As a mining and smelting company, USAC's core operations involve significant land use and potential pollution burdens on local communities, which inherently places them in scope for community impact risks. While they provide critical minerals, the extractive nature of their business requires rigorous management of indigenous land rights and environmental impacts on frontline communities, which are common areas of conflict in the mining sector. United States Antimony Corporation (USAC) is scored based on documented evidence regarding its Stibnite Gold Project (Perpetua Resources, associated with UAMY in the provided evidence). Regarding indigenous_fpic_violations, the Nez Perce Tribe has filed federal lawsuits asserting that the project violates the 1855 Treaty and harms treaty-reserved resources in their aboriginal homelands.

The Tribe claims the U.S. Forest Service failed to engage in meaningful government-to-government consultation, bypassing FPIC obligations. For water_rights_conflicts, the project faces significant legal challenges under the Clean Water Act. Evidence indicates one of the three proposed open pits would extend 720 feet beneath a riverbed, threatening critical salmon habitats. The Nez Perce Tribe has filed administrative protests against the company's water rights applications (9.6 cubic feet per second) due to contamination risks and depletion concerns. Cultural_heritage_destruction is tiered at -40 as the project is located in areas of deep spiritual and cultural importance to the Nez Perce, with the Tribe stating that the industrialization (including a 475-foot tall tailings facility) irreparably damages their place-based cultural lifeways. Community_protest_severity is tiered at -60 due to organized, multi-year opposition from a coalition of conservation groups and the Nez Perce Tribe. This includes federal litigation, appeals to the 9th Circuit, and public campaigns (#StopStibnite) aimed at halting construction. Revenue_sharing_verified is tiered at -100 because, despite the project's estimated $6.7 billion in gold revenue, there is no evidence of verified benefit-sharing with the affected indigenous community; conversely, the Tribe reports that the project threatens their existing $2.5 million annual investment in fisheries restoration.

Zero Waste & Sustainable Products

As a mining and smelting company, the core business model is inherently extractive and resource-intensive, which is fundamentally at odds with circular economy principles like cradle-to-cradle design. While zeolite has applications in waste remediation, the primary business of antimony extraction and smelting involves significant waste generation and environmental disruption. United States Antimony Corporation (USAC) demonstrates a focus on material recovery and regulatory compliance within its smelting and mining operations. Regarding waste reduction, the company employs high-efficiency fabric filter baghouses at its Montana facility, which achieve collection efficiencies between 98.5% and 99.997%.

This system serves both as pollution control and a primary method of product recovery, as captured antimony dust is reintroduced into the production cycle. Additionally, the company opted against wet scrubbing systems to avoid generating wastewater and lime waste, and it utilizes selective mining techniques at its Bear River Zeolite (BRZ) operations to minimize processing waste. These represent 2-3 distinct initiatives with measurable results. In terms of hazardous waste, the facility is classified as a minor source of Hazardous Air Pollutants (HAPs). It maintains active management through the installation of monitoring devices to detect baghouse failures and prevent the release of antimony dust. Compliance records indicate a strong performance; while a 2014 inspection noted a late report, more recent Full Compliance Inspections (FCE) in June 2023 and other partial inspections through 2022 show no waste disposal violations or citations in the past three years. Waste auditing is conducted through source testing on a four-year cycle for its furnaces, supplemented by weekly visual opacity surveys. While the recovery efficiency of 99.9% is high, it is treated as the industry standard for specialized metal smelting in the absence of comparative data showing it exceeds sector averages. No evidence was found regarding packaging sustainability, take-back programs, or formal zero-waste certifications.