Western antimony axis ensures returns: How Antimony Resources, US Antimony, and Hensoldt are securing defense capabilities

Antimony Resources and the Super Project in Canada

The key to solving Western problems may lie in eastern Canada, where Antimony Resources has already attracted attention with developments at its Bald Hill project in New Brunswick. The company recently provided evidence of stibnite mineralization in the Marcus West Zone, which was exposed by mechanical trenching directly in the bedrock. Of particular note is the discovery of flaky stibnite, which, according to geologists, indicates high-grade mineralization and should facilitate the control of future work. CEO Jim Atkinson described the surface samples as highly mineralized and emphasized the technical quality of the material found. Historical trenches in the adjacent Central Zone have already yielded values of 2.90% Sb over 8.18 m, with peak grades of 8.47% Sb over 1.53 m. These results support the company's efforts to further explore the known Main Zone with a 10,000-meter drilling program and supplement it with shallow drilling.

A relevant competitive advantage of Antimony Resources is the location of the Bald Hill project in the mining-friendly jurisdiction of New Brunswick, which has excellent infrastructure. Experts at the Boston Consulting Group estimate the average time from discovery to production in the US to be around 29 years. In contrast, the Canadian legal framework offers a much more predictable timeline. The proximity to North American processing centers reduces logistical risks and freight costs, which is a decisive criterion for security of supply. In addition to antimony, rock samples show evidence of rare earth elements such as neodymium and praseodymium, which makes the project even more interesting for government funding programs. Antimony Resources' stated goal is to present an initial official resource estimate in accordance with industry standard NI 43-101 by the end of 2026, based on the current drilling programs.

US Antimony scales up midstream processing

While Canadian exploration secures the raw material base, United States Antimony Corporation (UAMY) is taking the step toward industrial independence in the midstream sector. As the only fully integrated antimony producer in North America, the company controls the processing between the raw ore and the industrially usable metal. The expansion of the smelter in Thompson Falls, Montana, is at the heart of the operational strategy. An investment of just under USD 15 million has increased the plant's processing capacity sixfold, with the new furnaces coming online in early 2026. In direct response to this massive expansion in production capacity, UAMY raised its own revenue forecast for the current fiscal year to USD 125 million in February 2026. This expansion comes at a strategically opportune time, as global antimony prices have risen significantly as a result of the shortage.

Hensoldt under pressure

Hensoldt is at the end of the western supply chain for antimony. As part of its "software-defined defense" strategy, the defense electronics group is turning antimony into concrete superiority on the battlefield. Indium antimonide is a semiconductor material that is irreplaceable as a detector material for infrared sensors in the mid-wavelength range. Analyses by publications such as Shephard Media show that these special sensors have ten times the sensitivity and 50% greater range than conventional silicon-based detectors. This performance enables sensors in reconnaissance vehicles such as the Luchs 2 to identify heat signatures over long distances, which offers an essential advantage in drone defense. The company is targeting revenue growth of 10% for 2026, backed by a record order backlog of EUR 7.1 billion from the third quarter of 2025.

Antimony Resources with valuation advantage

However, in order for companies such as Hensoldt to achieve their goals, which include tripling radar production capacity by 2027, a constant supply from North American mining and processing projects is essential. Without supplies from projects such as Bald Hill or facilities such as Thompson Falls, the European defense industry will find it difficult to realize its plans. While UAMY and Hensoldt are already billion-dollar companies, Antimony Resources, with a market capitalization of just over CAD 80 million, offers even more upside potential.