On Tuesday, US rare earth concept stocks demonstrated active performance, with United States Antimony (UAMY.US) surging over 20%. USA Rare Earth (USAR.US) and NioCorp Developments (NB.US) both gained over 5%, TMC the metals (TMC.US) rose over 3%, and MP Materials (MP.US) increased nearly 2%.
On the news front, on September 23, UAMY announced it received an indefinite delivery, indefinite quantity single-source contract from the US Defense Logistics Agency Strategic Materials Division worth up to $245 million for the purchase of antimony ingots to replenish the US National Strategic Material Reserve. The company operates the only two antimony smelters in North America. With 2024 revenue of $14.9 million, this contract value represents approximately 16 times annual revenue, and the company is prepared to immediately fulfill the first order.