Americas Gold & Silver

What Americas Gold & Silver does

Americas Gold and Silver Corporation is a Toronto-headquartered, publicly traded mining company (NYSE American: USAS; TSX: USA) that produces silver, copper, lead, zinc, and antimony from high-grade underground operations in North America. Its principal assets are the Galena Complex in Idaho — the largest currently producing antimony mine in the United States and one of the top five highest-grade silver mines globally, operated under a 100%-ownership position acquired from Eric Sprott in December 2024 — and the Cosalá Operations in Sinaloa, Mexico, producing silver, copper, zinc, and lead from the San Rafael Mine and adjacent Zone 120 deposit. In December 2025 the company acquired the Crescent Silver Mine (located 9 miles from Galena) for approximately $65 million, adding the world's third highest-grade silver mineral resource, and in February 2026 it formed a 51/49 joint venture with United States Antimony Corporation to build North America's first commercial-scale hydromet antimony processing facility at Galena.

The company generates revenue by selling metal concentrates — silver-copper-antimony from Galena and silver-zinc-lead-copper from Cosalá — under offtake agreements with smelters and metal buyers at commodity-market prices (LME/COMEX). Concentrate sales are supplemented by silver and gold delivery obligations settled historically with Sprott, Ocean Partners, Glencore, and International Royalty Corporation. A new high-margin revenue stream begins in January 2026 following a metallurgical breakthrough enabling 99%+ antimony extraction from copper concentrates via proprietary Alkaline Selective Leaching (ASL) technology; antimony prices have risen from ~US$10k/tonne in 2020 to ~US$50k/tonne in Q3 2025, and the company has positioned itself as the sole U.S. domestic antimony producer addressing defense and clean-energy supply chain priorities.

The business is a sales-led commodity producer targeting institutional equity investors (Eric Sprott is the largest shareholder at ~14%; included in the Van Eck GDXJ ETF from March 2026) and a narrow set of smelter offtakers and government/defense end-buyers for critical minerals. Operational scale has expanded rapidly: 2025 silver production rose 52% to 2.65 million ounces; Q1 2026 silver output reached a record 787,000 ounces (+76% YoY) on revenue of $67.8 million; FY2026 production guidance is 3.2–3.6 million ounces. Capital has been raised through a series of equity placements and a US$100 million senior secured debt facility (June 2025) to fund Galena modernization (No. 3 Shaft hoisting capacity +150%) and the Crescent acquisition.

Name

Americas Gold & Silver

Legal name

Americas Gold and Silver Corporation

Website

https://americas-gold.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Americas Gold & Silver is a North American mining company that produces silver, copper, lead, zinc, and antimony from the Galena Complex in Idaho (the largest U.S. antimony mine), the Cosalá Operations in Mexico, and the recently acquired Crescent Silver Mine, selling concentrates to smelters and critical minerals to defense and industrial buyers.

Ownership category

akta.pro rank

Product category

Silver and Critical Minerals Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (21229)

SIC

Gold And Silver Ores (1040), Primary Smelting & Refining Of Nonferrous Metals (3330), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Silver Mining (IMAKAEAB)

akta.pro secondary industries

Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH), Critical Minerals Trading, Offtake & Marketing (IMAKAFAJ), Gold Mining (IMAKAEAA)

Keywords

• Silver mining production
• Antimony mining extraction
• Precious metals mining
• Copper concentrate production
• Critical minerals mining

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Silver Production and Sales: Primary revenue driver producing high-grade silver from Galena Complex (Idaho) and Cosalá Operations (Mexico). Silver is sold as concentrate or through silver delivery agreements. The company achieved record Q1 2026 production of 787,000 ounces representing 76% year-over-year increase.
2. Copper Concentrate Sales: Copper production from tetrahedrite ore at Galena Complex. The company has achieved breakthrough metallurgical results enabling extraction of 99%+ antimony from copper concentrates, transforming previously unmonetized by-product into significant revenue source.
3. Antimony Production and Sales: Strategic critical mineral production from Galena Complex - the largest active antimony mine in the United States. Year-to-date 2025 production of 447,466 lbs antimony with new offtake agreement enabling monetization starting January 2026. Antimony prices have surged from ~US$10k/tonne in 2020 to ~US$50k/tonne in Q3 2025.
4. Lead and Zinc By-products: Lead and zinc production as by-products from galena ore processing at Galena Complex and Cosalá Operations, contributing to overall revenue alongside primary silver production.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Americas Gold & Silver is a North American mining producer that extracts and sells silver, copper, lead, zinc, and antimony concentrates from underground mining operations in the U.S. (Idaho, Nevada) and Mexico. The company processes tetrahedrite and galena ores through flotation and proprietary hydrometallurgical (ASL) technology to produce metal concentrates sold under offtake agreements to smelters. It operates the Galena Complex (largest U.S. antimony mine), the Cosalá Operations, and the Crescent Silver Mine.

Product overview

Americas Gold & Silver is a North American mining company producing silver, copper, lead, zinc, and antimony from high-grade underground operations. The company's core assets include the Galena Complex (Idaho) - the largest U.S. antimony mine producing silver-copper-antimony tetrahedrite ore; the Cosalá Operations (Mexico) including the San Rafael Mine and Zone 120 deposit; and the recently acquired Crescent Silver Mine (Idaho) with the world's third highest-grade silver resource. The company also operates development projects including Relief Canyon (Nevada) and San Felipe (Mexico). The company recently formed a joint venture with US Antimony to process antimony domestically, positioning it as a key U.S. source of this critical mineral for defense and technology applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Galena Complex

Quantifiable outcome

• 76% year-over-year increase in Q1 2026 silver production to 787,000 ounces
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• United States Antimony CorporationcoreStrategic or Co-development Partner · 10 February 2026Joint venture to construct and operate a state-of-the-art hydromet processing facility in Idaho's Silver Valley. Americas Gold and Silver holds 51% ownership and US Antimony holds 49%. The facility will process antimony, silver, and copper from Americas' adjacent mines, representing the first commercial-scale hydromet processing center in North America. US Antimony serves as managing member and provides technical expertise and access to antimony marketing network including the U.S. Government. The JV aims to improve mineral recovery rates and reduce processing costs while capturing downstream processing profits.
• Allihies Engineering Inc.coreTechnology or IntegrationEngineering firm providing proprietary Alkaline Selective Leaching (ASL) hydrometallurgical technology for antimony extraction from copper concentrates. The technology achieves 99%+ antimony extraction rates and represents an optimized version of processes used for 60 years by Sunshine Mining.

Scale indicators18 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• MAG Silver Corp. Mid-tier silver producer with primary operations in Mexico (Juanicipio project). Directly comparable as a high-grade silver-focused miner with North American assets and similar scale, although without antimony exposure.
• Coeur Mining, Inc. North American precious metals producer focused on silver and gold with operations in the U.S. and Mexico. Comparable silver-focused production profile, geographic footprint, and mid-cap scale.
• First Majestic Silver Corp. Pure-play silver producer with multiple Mexican mines producing silver and by-products (gold, zinc, lead). Comparable business model of high-grade underground silver mining with by-product credits and similar market cap tier.
• Endeavour Silver Corp. Mid-tier silver producer operating multiple underground mines in Mexico. Comparable silver-focused business model, Mexican operational footprint, and small-cap public market profile.
• Silvercorp Metals Inc. Silver-focused miner primarily producing silver, lead, and zinc from underground mines in China and Mexico. Comparable by-product metal mix (silver + base metals) and underground mining approach.
• United States Antimony Corporation: The company's JV partner (49% stake in antimony processing hub) and the largest current processor of antimony in the U.S. Comparable antimony focus and downstream processing capabilities; partial overlap as both partner and competitor in U.S. antimony supply chain.

Broad incumbents

• Hecla Mining Company: Largest U.S.-based silver producer with operations in Idaho's Silver Valley (Lucky Friday mine — adjacent to Americas' Galena Complex), Alaska, and Mexico. Directly comparable geography and silver focus, with established scale and broader metal diversification.
• Pan American Silver Corp. Major diversified silver producer with operations across the Americas (Mexico, Peru, Bolivia, Argentina). Larger scale incumbent with overlapping silver focus and similar Latin American operational exposure.
• SSR Mining Inc. Mid-tier precious metals producer with diversified gold and silver operations across the Americas and Turkey. Comparable mid-cap scale with precious metals focus and multi-asset portfolio approach.

Emerging players

• Perpetua Resources Corp. Developer of the Stibnite Gold Project in Idaho, which contains one of the largest U.S. antimony reserves. Comparable U.S. critical minerals positioning and Idaho operational proximity to Galena, representing future direct competition in domestic antimony supply.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/americas-silver/jobs
• Facebookfacebook.com/AmericasGoldandSilver

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries6 records

Funding overview

Funding rounds15 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Americas Gold & Silver