American Tungsten & Antimony Limited (ASX: AT4; OTCQB: ATALF) said on September 22, 2026, in a release distributed via PRNewswire, that it has produced antimony ingot at the Del Sol Hydromet Refinery in Nevada. The feed came from the White Spar Antimony Mine in Yavapai County, Arizona. Mined in one state, refined in another, all on US soil. That’s the point the company is making.
Highlights
- American Tungsten & Antimony Limited (ASX: AT4; OTCQB: ATALF) has produced antimony ingot at the Del Sol Hydromet Refinery in Amargosa Valley, Nevada, using material from the White Spar Antimony Mine in Arizona, during a restart campaign that began September 16, 2026.
- The company does not yet own Del Sol or White Spar; its proposed acquisition of option holder Nexus Metals won shareholder approval on September 21, 2026, but other closing conditions remain.
- No grade, purity, volume, or recovery figures have been released; independent testing of the ingot is underway.
Why a Small Ingot Matters
Most people never think about antimony. It’s a brittle, silvery metal used in flame retardants, lead-acid batteries, glass, and ammunition. China dominates both the mining and refining of it, and Beijing tightened export controls on antimony in 2024. Since then, US buyers have been hunting for supply closer to home.
An ingot is where ore becomes a product. It’s the form a customer can actually test. In its ASX filing, the company said the ingot can serve as feedstock for downstream products like antimony trisulphide and sodium antimonate. It also gives AT4 something physical to put in front of prospective offtakers (buyers who agree in advance to purchase future output), defense contractors, and US government agencies.
How It Was Made
The restart campaign at Del Sol, in Amargosa Valley, began on September 16, 2026. AT4 said the plant’s leach and electrowinning circuit came back online ahead of schedule. Electrowinning runs an electric current through a metal-bearing solution so the metal plates out, in this case as antimony flake. That flake was then melted into ingot in the facility’s existing melters.
No new plant was built. According to the company, no new permits were required for this campaign, which ran within Del Sol’s existing feed limits.
What Hasn’t Been Disclosed Yet
Quite a lot. AT4 has not released the ingot’s grade or purity. Volumes and metallurgical recovery (the share of antimony actually captured from the ore) are also missing. Independent analytical testing and product qualification are underway, and the campaign is still running. Until results come back, there’s no way to judge whether the metal meets the specifications defense and industrial buyers typically demand.
Then there’s ownership. AT4 currently holds no legal or beneficial interest in Del Sol or White Spar. It has a binding agreement to acquire Nexus Metals Pty Ltd, which holds option and earn-in rights over both assets through Nexus Metals LLC. The restart is being carried out under pre-completion arrangements with Nexus.
Shareholders cleared one hurdle on September 21, 2026, backing every resolution at a general meeting with at least 95% of votes cast in favor, according to the company’s results filing. Other conditions remain, including exercise of the Del Sol option, regulatory and third-party consents, and voluntary escrow deeds. The company has said completion is not guaranteed.
What Comes Next
CEO Casper Adson called the result “a major milestone” and tied it directly to the pending Del Sol deal. He also pointed to the company’s goal of a “Critical Mineral Valley” that would link US mining, processing, and downstream manufacturing on one platform.
Del Sol isn’t the company’s only bet. Its flagship asset sits elsewhere: the Antimony Canyon Project in Utah, which the company describes as one of the country’s largest and highest-grade undeveloped antimony systems. AT4 also holds the Tennessee Mountain Tungsten Project in Nevada and the Dutch Mountain Project in Utah.
For now, this is a demonstration batch from a plant the company doesn’t yet own. The purity numbers will say more than the milestone does.
Sources
- American Tungsten & Antimony Limited: American Tungsten and Antimony Produces Antimony Ingot at Del Sol Refinery Demonstrating U.S. Mine-to-Metal Pathway, PRNewswire, September 22, 2026
- American Tungsten & Antimony Limited: ASX announcement on antimony ingot production at Del Sol (linked from the company’s release), September 2026
- Kalkine Media: American Tungsten & Antimony Shareholders Endorse Del Sol Deal at September 2026 General Meeting
Editorial Disclosure
This article is based on a corporate press release issued by American Tungsten & Antimony Limited on September 22, 2026, and distributed via PRNewswire, together with the company’s related ASX announcement. Securities discussed: American Tungsten & Antimony Limited (ASX: AT4 | OTCQB: ATALF). Mining Markets Report has not received compensation from American Tungsten & Antimony, its management, investor relations representatives, or any third party for the creation of this specific coverage. No staff member, principal, or affiliate of Mining Markets Report holds a position, option, or interest in this security as of the publication date. Operational updates, including the ongoing restart campaign at the Del Sol Hydromet Refinery, pending independent testing of the antimony ingot, and the proposed acquisition of Nexus Metals Pty Ltd, are forward-looking statements. They are subject to operational risks, metallurgical uncertainties, closing conditions, and regulatory approvals; actual outcomes and timing may differ materially. Mineral exploration and micro-cap mining stocks carry an extremely high degree of financial risk. Early-stage exploration and development companies often have no revenues, are speculative in nature, and can result in the total loss of invested capital. This overview is published strictly for informational, news-reporting, and educational market context purposes only. It does not constitute an investment recommendation, endorsement, or professional financial, legal, or tax advice.
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