UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB




(Mark  One)

[X]     QUARTERLY  REPORT  UNDER  SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT  OF  1934
                For the quarterly period ended September 30, 2003

[   ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT  OF  1934
For  the  transition  period          to




                         Commission file number 33-00215

                       UNITED STATES ANTIMONY CORPORATION

                 (Name of small business issuer in its charter)


                   MONTANA                     81-0305822
                   -------                     ----------
    (State or other jurisdiction of          (I.R.S.
     incorporation or organization)      Employer Identification No.)

     P.O.  BOX  643,  THOMPSON  FALLS,  MONTANA       59873
     ------------------------------------------      -------
    (Address  of  principal  executive  offices)     (Zip  code)


       Registrant's telephone number, including area code:  (406) 827-3523



Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that the registrant was required to file such reports), and (2) has been
subject  to  such  filing  requirements  for  the  past  90  days.
YES     X          No
                   --




At  September  10, 2003, the registrant had outstanding 27,027,959 shares of par
value  $0.01  common  stock.



<PAGE>




                       UNITED STATES ANTIMONY CORPORATION
                         QUARTERLY REPORT ON FORM 10-QSB
                            FOR THE QUARTERLY PERIOD
                            ENDED SEPTEMBER 30, 2003


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<CAPTION>



TABLE OF CONTENTS


                                                                         Page
<S>                                                                      <C>
PART I - FINANCIAL INFORMATION

Item 1: Financial Statements. . . . . . . . . . . . . . . . . . . . . .     1

Item 2: Management's Discussion and Analysis of Financial Condition and
            Results of Operations . . . . . . . . . . . . . . . . . . .     5

Item 3: Controls and Procedures . . . . . . . . . . . . . . . . . . . .     8

PART II - OTHER INFORMATION

Item 1: Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . .     9

Item 2: Changes in Securities . . . . . . . . . . . . . . . . . . . . .     9

Item 3: Defaults among Senior Securities. . . . . . . . . . . . . . . .     9

Item 4: Submission of Matters to a Vote of Security Holders . . . . . .     9

Item 5: Other Information . . . . . . . . . . . . . . . . . . . . . . .     9

Item 6: Exhibits and Reports on Form 8-K. . . . . . . . . . . . . . . .     9


SIGNATURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    10

CERTIFICATIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . .    11


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         [The balance of this page has been intentionally left blank.]







<PAGE>


PART  I-FINANCIAL  INFORMATION

ITEM  1.  FINANCIAL  STATEMENTS
UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
CONSOLIDATED  BALANCE  SHEETS
<TABLE>
<CAPTION>



                                                                      (UNAUDITED)
                                                                     SEPTEMBER 30,    DECEMBER 31,
<S>                                                                 <C>              <C>
                                                                              2003            2002
ASSETS
Current assets:
  Accounts receivable, less allowance
    for doubtful accounts of $30,000 . . . . . . . . . . . . . . .  $       55,825   $     106,971
  Inventories. . . . . . . . . . . . . . . . . . . . . . . . . . .          68,189         123,307
                                                                    ---------------  --------------
          Total current assets . . . . . . . . . . . . . . . . . .         124,014         230,278

Investment in USAMSA, net. . . . . . . . . . . . . . . . . . . . .          12,125          18,625
Properties, plants and equipment, net. . . . . . . . . . . . . . .         561,256         529,416
Restricted cash for bank note payable. . . . . . . . . . . . . . .         102,022         102,022
Restricted cash for reclamation bonds. . . . . . . . . . . . . . .          88,670          91,186
Restricted cash for payroll taxes. . . . . . .                 . . . . . . . . . .          14,000
                                                                    ---------------
          Total assets . . . . . . . . . . . . . . . . . . . . . .  $      902,087   $     971,527
                                                                    ===============  ==============

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
  Checks issued and payable. . . . . . . . . . . . . . . . . . . .  $      112,442   $      53,641
  Accounts payable . . . . . . . . . . . . . . . . . . . . . . . .         908,730         783,799
  Accrued payroll and property taxes . . . . . . . . . . . . . . .         240,803         280,247
  Accrued payroll and other. . . . . . . . . . . . . . . . . . . .          86,855          85,838
  Judgment payable . . . . . . . . . . . . . . . . . . . . . . . .          52,330          49,780
  Accrued interest payable . . . . . . . . . . . . . . . . . . . .          14,640          18,663
  Payable to related parties . . . . . . . . . . . . . . . . . . .         277,652         202,625
  Stock subscription payable . . . . . . . . . . . . . . . . . . .         310,000          35,000
  Notes payable to bank, current . . . . . . . . . . . . . . . . .         229,142         266,284
  Accrued reclamation costs, current . . . . . . . . . . . . . . .          19,483          44,565
                                                                    ---------------  --------------
          Total current liabilities. . . . . . . . . . . . . . . .       2,252,077       1,820,442

Notes payable to bank, noncurrent. . . . . . . . . . . . . . . . .         415,010         345,638
Accrued reclamations costs, noncurrent . . . . . . . . . . . . . .         152,052         152,050
                                                                    ---------------  --------------
          Total liabilities. . . . . . . . . . . . . . . . . . . .       2,819,139       2,318,130
                                                                    ---------------  --------------

Commitments and contingencies (Note 3)
Stockholders' deficit:
  Preferred stock, $0.01 par value, 10,000,000 shares authorized:
      Series A: 4,500 shares issued and outstanding. . . . . . . .              45              45
      Series B: 750,000 shares issued and outstanding. . . . . . .           7,500           7,500
      Series C: 177,904 shares issued and outstanding. . . . . . .           1,779           1,779
      Series D: 475,000 shares issued and outstanding. . . . . . .           4,750             960
  Common stock, $0.01 par value, 30,000,000 shares
    authorized; 27,027,959 issued and outstanding. . . . . . . . .         270,279         270,279
  Additional paid-in capital . . . . . . . . . . . . . . . . . . .      17,002,720      16,963,610
  Accumulated deficit. . . . . . . . . . . . . . . . . . . . . . .     (19,204,125)    (18,590,776)
                                                                    ---------------  --------------
          Total stockholders' deficit. . . . . . . . . . . . . . .      (1,917,052)     (1,346,603)
                                                                    ---------------  --------------
          Total liabilities and stockholders' deficit. . . . . . .  $      902,087   $     971,527
                                                                    ===============  ==============
</TABLE>




<PAGE>
    The accompanying notes are an integral part of the financial statements.
                                        1
<PAGE>

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
CONSOLIDATED  STATEMENTS  OF  OPERATIONS  (UNAUDITED)


<TABLE>
<CAPTION>

                                                    FOR  THE  THREE  MONTHS  ENDED,     FOR  THE  NINE  MONTHS  ENDED,


                                                  SEPTEMBER  30,    SEPTEMBER 30,    SEPTEMBER 30,    SEPTEMBER 30,
                                                       2003             2002             2003             2002
<S>                                              <C>               <C>              <C>              <C>
Revenues:
  Sales of antimony products and other. . . . .  $       678,060   $      863,625   $    2,239,915   $    2,489,997
  Sales of zeolite products . . . . . . . . . .           85,291           44,740          349,049          150,647
                                                 ----------------  ---------------  ---------------  ---------------
                                                         763,351          908,365        2,588,964        2,640,644

Cost of sales:
  Cost of antimony production . . . . . . . . .          511,991          656,656        1,757,911        1,929,370
  Cost of zeolite production. . . . . . . . . .           98,303           45,349          350,840          142,777
  Antimony depreciation . . . . . . . . . . . .            9,475           10,250           28,428           30,750
  Zeolite depreciation. . . . . . . . . . . . .           13,686            6,500           41,058           18,900
  Antimony freight and delivery . . . . . . . .           67,042           84,546          207,355          278,688
  Zeolite freight and delivery. . . . . . . . .           22,318            4,358           60,969            7,232
                                                 ----------------  ---------------  ---------------  ---------------
                                                         722,815          807,659        2,446,561        2,407,717

Gross profit. . . . . . . . . . . . . . . . . .           40,536          100,706          142,403          232,927
                                                 ----------------  ---------------  ---------------  ---------------

Other operating expenses:
  Bear River Zeolite general and administrative           47,872           33,320          191,046          126,478
  Antimony general and administrative . . . . .          101,272           89,248          331,151          254,666
  Bear River Zeolite sales expenses . . . . . .           20,652            4,882           49,917           24,405
  Antimony sales expenses . . . . . . . . . . .           17,028           17,801           51,994           62,199
                                                 ----------------  ---------------  ---------------  ---------------
                                                         186,824          145,251          624,108          467,748
                                                 ----------------  ---------------  ---------------  ---------------
Other (income) expense:
  Interest expense. . . . . . . . . . . . . . .           21,266           20,234           54,293           57,607
  Factoring expense . . . . . . . . . . . . . .           22,320           27,217           83,544           72,544
  Interest income and other . . . . . . . . . .             (544)          (1,663)          (6,193)          (3,113)
  Sale of Bear River Zeolite royalty. . . . . .                           (50,000)                         (200,000)
                                                 ----------------  ---------------   --------------  --------------
                                                          43,042           (4,212)         131,644          (72,962)
                                                 ----------------  ---------------  ---------------  ---------------

Net loss. . . . . . . . . . . . . . . . . . . .  $      (189,330)  $      (40,333)  $     (613,349)  $     (161,859)
                                                 ================  ===============  ===============  ===============

Basic net loss per share of common stock. . . .  $         (0.01)  $          Nil   $        (0.02)  $        (0.01)
                                                 ================  ===============  ===============  ===============

Basic weighted average shares outstanding . . .       27,027,959       27,027,959       27,027,959       26,865,026
                                                 ================  ===============  ===============  ===============
</TABLE>









    The accompanying notes are an integral part of the financial statements.
                                        3
<PAGE>

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS  (UNAUDITED)

<TABLE>
<CAPTION>
                                                          FOR  THE  NINE  MONTHS  ENDED


                                                        SEPTEMBER 30,    SEPTEMBER 30,
                                                            2003             2002
<S>                                                    <C>              <C>
Cash flows from operating activities:
  Net loss. . . . . . . . . . . . . . . . . . . . . .  $     (613,349)  $     (161,859)
  Adjustments to reconcile net loss to
    net cash used by operations:
    Depreciation and amortization . . . . . . . . . .          75,986           67,322
    Series D stock issued to directors. . . . . . . .          15,000
    Series D stock issued for legal services. . . . .           7,800
    Change in:. . . . . . . . . . . . . . . . . . . .          20,100            8,000
      Restricted cash
      Accounts receivable . . . . . . . . . . . . . .         (11,484)         (93,684)
      Inventories . . . . . . . . . . . . . . . . . .          51,146          (30,705)
      Accounts payable. . . . . . . . . . . . . . . .          55,118           26,125
      Accrued payroll and property taxes. . . . . . .         124,933          101,854
      Accrued payroll and other . . . . . . . . . . .         (39,444)           7,302
      Judgment payable. . . . . . . . . . . . . . . .           1,017           (1,684)
      Accrued interest payable. . . . . . . . . . . .           2,550            2,550
      Payable to related parties. . . . . . . . . . .          (4,023)
      Accrued reclamation costs . . . . . . . . . . .         (25,082)         (43,656)
                                                       ---------------  ---------------
         Net cash used by operating activities. . . .        (339,732)        (118,435)
                                                       ---------------  ---------------

Cash flows from investing activities:
  Purchase of properties, plants and equipment. . . .        (101,326)        (260,895)
                                                       ---------------  ---------------
         Net cash used in investing activities. . . .        (101,326)        (260,895)
                                                       ---------------  ---------------

Cash flows from financing activities:
  Proceeds from issuance of common stock and warrants                          172,070
  Proceed from stock subscriptions payable. . . . . .         275,000           10,000
  Payments on notes payable to bank, net. . . . . . .        (117,770)        (274,017)
  Proceeds from related party advances, net . . . . .          75,027           56,879
  Proceeds from notes payable to bank . . . . . . . .         150,000          395,000
  Change in checks issued and payable . . . . . . . .          58,801           19,398
                                                       ---------------  ---------------
         Net cash provided by financing activities. .         441,058          379,330
                                                       ---------------  ---------------

Net change in cash. . . . . . . . . . . . . . . . . .               0                0
Cash, beginning of period . . . . . . . . . . . . . .               0                0
                                                       ---------------  ---------------
Cash, end of period . . . . . . . . . . . . . . . . .  $            0   $            0
                                                       ===============  ===============

</TABLE>




The accompanying notes are an integral part of the financial statements.
                       4
<PAGE>
PART  I  -  FINANCIAL  INFORMATION,  CONTINUED:

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY

NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS  (UNAUDITED)

1.          BASIS  OF  PRESENTATION:

The  unaudited  consolidated  financial  statements  have  been  prepared by the
Company  in  accordance  with  accounting  principles  generally accepted in the
United  States  of  America  for  interim  financial information, as well as the
instructions  to  Form  10-QSB.  Accordingly,  they  do  not  include all of the
information  and  footnotes required by accounting principles generally accepted
in  the  United  States  of  America  for  complete financial statements. In the
opinion  of the Company's management, all adjustments (consisting of only normal
recurring  accruals) considered necessary for a fair presentation of the interim
financial  statements  have  been  included.  Operating results for the nine and
three-month  periods  ended September 30, 2003 are not necessarily indicative of
the  results  that  may  be expected for the full year ending December 31, 2003.
Certain  consolidated  financial  statement amounts for the nine and three-month
periods  ended  September 30, 2002 have been reclassified to conform to the 2003
presentation.  These  reclassifications  had  no  effect  on  the  net  loss  or
accumulated  deficit  as  previously  reported.

For  further information refer to the financial statements and footnotes thereto
in  the  Company's  Annual Report on Form 10-KSB for the year ended December 31,
2002.

2.          LOSS  PER  COMMON  SHARE:

The  Company  accounts  for  its income (loss) per common share according to the
Statement  of Financial Accounting Standards No. 128 "Earnings Per Share" ("SFAS
No.  128").  Under  the  provisions  of  SFAS No. 128, primary and fully diluted
earnings  per  share  are  replaced  with  basic and diluted earnings per share.
Basic  earnings  per share is arrived at by dividing net income (loss) available
to  common  stockholders  by  the  weighted  average  number  of  common  shares
outstanding,  and does not include the impact of any potentially dilutive common
stock equivalents.  Common stock equivalents, including warrants to purchase the
Company's  common  stock  and  common  stock  issuable  upon  the  conversion of
debentures are excluded from the calculations when their effect is antidilutive.

3.          COMMITMENTS  AND  CONTINGENCIES:

Until  1989, the Company mined, milled and leached gold and silver in the Yankee
Fork  Mining District in Custer County, Idaho. In 1994, the U.S. Forest Service,
under  the  provisions of the Comprehensive Environmental Response Liability Act
of  1980  ("CERCLA"), designated the cyanide leach plant as a contaminated site.
In  1996,  the  Idaho  Department  of  Environmental  Quality requested that the
Company  sign  a  consent  decree  related  to  completing  the  reclamation and
remediation  at  the  Preachers  Cove  mill.  The  Company  has  been diligently
reclaiming the property and anticipates it will have the reclamation complete in
the  near  term.

In  November  of  2001,  the  Environmental Protection Agency ("EPA") listed two
by-products  of  the Company's antimony oxide manufacturing process as hazardous
wastes  under subtitle C of the Resource Conservation and Recovery Act ("RCRA"),
and  emergency  notification  requirements for releases to the environment under
CERCLA.  On  November  26,  2002,  the  Company  received  a notice of violation
related  to  a  hazardous waste discharge that was discovered during a hazardous
waste compliance evaluation inspection conducted at the Company's Thompson Falls
antimony  facility.  In  response  to  the  notice,  the Company removed certain
antimony  materials  from  its  production area and agreed to ensure that future
releases  of hazardous waste would not occur.  At September 30, 2003, management
believes  that  no  additional  liability  will  result  from  the  violation.

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY

      NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS  (UNAUDITED),  CONTINUED:

     3.          COMMITMENTS  AND  CONTINGENCIES,  CONTINUED:

During  the  first  nine months of 2003, the Company paid $11,651 in reclamation
and  water  monitoring  costs  relating to its Preachers Cove property that were
charged  to  its  accrued  reclamation  liability.

The  Company's  management  believes  that  USAC  is  currently  in  substantial
compliance  with  environmental  regulatory  requirements  and  that its accrued
environmental  reclamation  costs are representative of management's estimate of
costs  required  to fulfill its reclamation obligations.  Such costs are accrued
at  the  time  the  expenditure becomes probable and the costs can reasonably be
estimated.  The  Company  recognizes,  however,  that  in  some  cases  future
environmental  expenditures cannot be reliably determined due to the uncertainty
of  specific remediation methods, conflicts between regulating agencies relating
to  remediation  methods  and  environmental law interpretations, and changes in
environmental  laws  and  regulations.  Any changes to the Company's reclamation
plans as a result of these factors could have an adverse affect on the Company's
operations.  The  range  of  possible  losses  in  excess of the amounts accrued
cannot  be  reasonably  estimated  at  this  time.

ITEM  2.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  RESULTS  OF
                    OPERATIONS  AND  FINANCIAL  CONDITION

General

This  report  contains both historical and prospective statements concerning the
Company  and  its operations.  Prospective statements (known as "forward-looking
statements")  may  or  may  not  prove  true with the passage of time because of
future  risks  and uncertainties.  The Company cannot predict what factors might
cause  actual  results  to differ materially from those indicated by prospective
statements.

Results  of  Operations

For  the three-month period ended September 30, 2003 compared to the three-month
period  ended  September  30,  2002

On May 29, 2002, the Company, was assigned all rights, title and interest in any
and  all  common  stock  of  Bear River Zeolite Company ("Bear River Zeolite" or
"BRZ")  owned  by  George  Desborough  and Nick Raymond, holders of 25% of BRZ's
outstanding  shares  of  common  stock.  The  assignment  brought  the Company's
ownership  in Bear River Zeolite to 100%. In connection with the assignment, the
Company  agreed to pay Mr. Desborough and Mr. Raymond a royalty on zeolite sales
ranging  from  1-3%  based  on  per-ton  zeolite  sale  prices.  As  additional
consideration  for  the assignment, USAC also agreed to issue Mr. Desborough and
Mr.  Raymond  a  total  of  50,000  restricted  common  stock  purchase warrants
exercisable  at  $0.40  for a period of 3 years within 30 days of the signing of
the  agreement, providing common stock is authorized. At September 30, 2003, the
warrants  had  not  yet  been  issued.

On  June  1, 2002, BRZ sold a production royalty to Delaware Royalty Corporation
("Delaware"),  a company controlled by Al Dugan, a major shareholder that may be
regarded  as an affiliate. The sale granted Delaware a 2% royalty on all zeolite
ore  extracted  and  sold  from  BRZ's  Webster  Farm  zeolite  property.  As
consideration  for the royalty the Company received $150,000. The royalty is due
at  the  end  of each quarter and is calculated on the gross sales proceeds from
zeolite  shipped  and  sold  during  the  preceding  quarter.




ITEM  2.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  RESULTS  OF
                    OPERATIONS  AND  FINANCIAL  CONDITION,  CONTINUED:

The  Company's operations resulted in a net loss of $189,330 for the three-month
period  ended  September  30,  2003, compared with a net loss of $40,333 for the
three-month  period  ended September 30, 2002. Net loss during the third quarter
of 2003 compared to the net loss during the similar quarter of 2002 is primarily
due  to  the  decrease  in  antimony  sales  due  to the economy, increased fuel
expenses,  payroll  taxes,  general  and  administrative  expenses  and worker's
compensation insurance increases in Montana in 2003. The Company expects that in
the  fourth  quarter of 2003 the worker's compensation insurance expense for the
Company  will  decrease  dramatically.

Total  revenues  from  antimony product sales for the third quarter of 2003 were
$678,060  compared  with  $863,625  during  the  comparable  quarter  of 2002, a
decrease  of  $185,565. The decrease in sales revenues during the 3rd quarter of
2003  compared  to  the  same  quarter  in  2002  is due to the poor economy, an
increase  in  the cost of antimony metal and the corresponding price increase in
the  oxide products (resulting in decreased consumer purchasing) and competitive
pressures  from  Chinese  antimony  distributors.  During the three-month period
ended  September  30,  2003,  38.34%,  of  the  Company's revenues from antimony
product  sales  were  from  sales to one customer and 11.6% were from sales to a
second individual customer.  Sales of antimony products during the third quarter
of 2003 consisted of 529,457 pounds at an average sale price of $1.28 per pound.
During  the  third  quarter  of  2002  sales  of  antimony products consisted of
1,062,413  pounds  at  an average sale price of $0.81 per pound. The increase in
sale  prices  of  antimony  products from the third quarter of 2002 to the third
quarter  of  2003  is  the  result of a corresponding increase in antimony metal
prices.

Sales of zeolite products during the third quarter of 2003 were $85,291 compared
to sales of $44,740 during the third quarter of 2002.  Sales of zeolite products
during  the third quarter of 2003 consisted of 882 tons at an average sale price
of  $99.60  per ton.  During the third quarter of 2002 sales of zeolite products
consisted  of  484  tons  at  an  average  sale  price  of  $85.78  per  ton.

Gross profit from antimony sales during the third three-month period of 2003 was
$89,552  compared  with  gross  profit  of $112,173 during the third three-month
period  of  2002  and gross loss from zeolite sales during the third three-month
period  of 2003 was $49,016 compared with gross loss of $11,467 during the third
three-month  period  of  2002.

During the third quarter of 2003, the Company incurred expenses totaling $68,524
associated with sales development and general and administrative expenses of its
wholly  owned subsidiary, Bear River Zeolite, compared to $38,202 of expenses in
the  comparable  quarter  of 2002.  The increase in BRZ expenses was principally
due  to  increased  sales  expenses.

Antimony  general  and  administrative  expenses  were $101,272 during the third
quarter  of  2003,  compared  to $89,248 during the second quarter of 2002.  The
increase in general and administrative expenses during the third quarter of 2003
compared  to  the same quarter of 2002 was due to increased accounting and legal
expenses.

Antimony  sales  expenses were $17,028 during the third quarter of 2003 compared
with  $17,801  in  the  third  quarter  of  2002.

Interest  expenses  were  $21,266  during the third quarter of 2003, compared to
interest  expense  of  $20,234  incurred  during  the  third  quarter  of  2002.

Accounts  receivable  factoring  expense was $22,320 during the third quarter of
2003  compared to $27,217 of factoring expense incurred during the third quarter
of  2002.  The  decrease was primarily due to a decrease in finance charges on a
smaller  amount  of  accounts  receivable  factored.

ITEM  2.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  RESULTS  OF
                    OPERATIONS  AND  FINANCIAL  CONDITION,  CONTINUED:

Interest and other income decreased from $1,663 during the third quarter of 2002
to  $544  during  the  third  quarter  of  2003.  The  decrease  was  due  to  a
corresponding  decrease  in  other  income.

For  the  nine-month  period ended September 30, 2003 compared to the nine-month
period  ended  September  30,  2002

The  Company's  operations resulted in a net loss of $613,349 for the nine-month
period  ended  September  30, 2003, compared with a net loss of $161,859 for the
nine-month  period  ended  September 30, 2002. The increase in net loss from the
first nine months of 2002 compared to the first nine months of 2003 is primarily
due  to  the  sale  of a royalty in the Company's zeolite operations in 2002 and
increase  in  general  administrative  expenses  in  2003.

Total  revenues  from  antimony  product sales for the first nine months of 2003
were  $2,239,915  compared  with $2,489,997 for the comparable period of 2002, a
decrease  of  $250,082.  During  the nine-month period ended September 30, 2003,
45.27% of the Company's revenues from antimony products sales were from sales to
one  customer  and 5.08% were from sales to a second individual customer.  Sales
of antimony products during the first nine months of 2003 consisted of 1,716,534
pounds  at  an  average  sale  price  of $1.30 per pound.  During the first nine
months  of  2002  sales of antimony products consisted of 2,992,407 pounds at an
average  sale price of $0.83 per pound. The decrease in pounds of antimony sales
is  attributed  to higher product price and a poor economy. The increase in sale
prices of antimony products from the first nine months of 2002 to the first nine
months  of  2003  is  the  result  of a corresponding increase in antimony metal
prices.

Sales  of  zeolite  products  during the first nine months of 2003 were $349,049
compared  to  sales  of  $150,647 during the comparable period of 2002. Sales of
zeolite products during the first nine months of 2003 consisted of 3,295 tons at
an  average sale price of $105.93 per ton.  During the first nine months of 2002
sales  of  zeolite  products consisted of 1,609 tons at an average sale price of
$93.63  per  ton.

 Gross profit from antimony sales during the first nine-month period of 2003 was
$246,221  compared  with  gross  profit  of  $263,039 during the same nine-month
period  of  2002  and  gross  loss for zeolite sales during the first nine-month
period  of 2003 was $103,818 compared with gross loss of $18,262 during the same
nine-month  period  of  2002.

During  the  first  nine  months of 2003, the Company incurred expenses totaling
$240,963  associated  with  sales  development  and  general  and administrative
expenses  of  its  wholly  owned  subsidiary,  Bear  River  Zeolite, compared to
$150,883  of expenses during the comparable period of 2002.  The increase in BRZ
expenses  was  principally  due  to  expanded  sales  efforts.

Antimony general and administrative expenses were $331,151 during the first nine
months  of 2003, compared to $254,666 during the first nine months of 2002.  The
increase  in general and administrative expenses during the first nine months of
2003  compared  to  the  same period of 2002 was due to increased consulting and
management  costs.

Antimony  sales  expenses  were  $51,994  during  the  first nine months of 2003
compared  with  $62,199  in  the  first  nine  months  of 2002, the decrease was
principally  due  to the allocation of a portion of the Company's sales costs to
BRZ  during  2003.

Interest  expense  was $54,293 during the first nine months of 2003, compared to
interest  expense  of  $57,607  incurred  during  the first nine months of 2002.


ITEM  2.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  RESULTS  OF
                    OPERATIONS  AND  FINANCIAL  CONDITION,  CONTINUED:

Accounts  receivable  factoring expense was $83,544 during the first nine months
of  2003 compared to $72,544 of factoring expense incurred during the first nine
months  of  2002.  The  increase was primarily due to increased finance charges.

Interest  and other income increased from $3,113 during the first nine months of
2002  to $6,193 during the first nine months of 2003.  The increase was due to a
corresponding  increase  in  other  income.

Financial  Condition  and  Liquidity

At  September  30,  2003,  Company  assets  totaled  $902,087,  and  there was a
stockholders'  deficit  of  $1,917,052.  The  stockholders'  deficit  increased
$570,449  from  December  31, 2002. The increase is principally due to operating
losses  incurred  during  the  nine-month  period  ended  September 30, 2003. At
September  30,  2003, the Company's total current liabilities exceeded its total
current assets by $2,128,063.  Included in the Company's current liabilities are
significant  delinquent  balances  due  raw  materials suppliers, attorneys, and
payroll  taxing  agencies.  Due  to  the  Company's  operating  losses, negative
working  capital,  and  stockholders'  deficit,  the  Company's  independent
accountants  included  a  paragraph  in  the Company's 2002 financial statements
relating  to  a  going  concern  uncertainty. To continue as a going concern the
Company  must  generate  profits from its antimony and zeolite sales and acquire
additional  capital  resources  from  alternative  financing resources.  Without
financing  and  profitable  operations,  the Company may not be able to meet its
obligations,  fund  operations  and  continue  in  existence  for another twelve
months.  While management is optimistic that the Company will be able to sustain
its  operations and meet its financial obligations, there can be no assurance of
such.

     Cash  used by operating activities during the first nine months of 2003 was
$339,732,  and  resulted  primarily  from  the  nine-month net loss of $613,349.

Cash  used  in  investing  activities  during  the first nine months of 2003 was
$101,326  and  was almost entirely related to the construction of capital assets
at  the  Bear  River  Zeolite  facility.

Cash  provided by financing activities was $441,058 during the first nine months
of  2003,  and  was principally generated by subscriptions to purchase 1,375,000
shares  of unregistered common stock for $275,000 and increased bank borrowings.
At  September 30, 2003, the Company substantially had no unencumbered authorized
common  stock  available  for  sale  or  issue.

ITEM  3.     CONTROLS  AND  PROCEDURES

Based on their most recent evaluation, which was completed within 90 days of the
filing  of  this  Form  10-QSB,  the  Company's president believes the Company's
disclosure  controls and procedures (as defined in Exchange Act Rules 13a-14 and
15d-14) are effective to ensure that information required to be disclosed by the
Company  in  this  report  is  accumulated  and  communicated  to  the Company's
management,  including  its  principal executive officer and principal financial
officer,  as  appropriate,  to  allow  timely  decisions  regarding  required
disclosure.  There  were  no  significant  changes  in  the  Company's  internal
controls  or  other  factors  that  could  significantly  affect  these controls
subsequent  to the date of their evaluation and there were no corrective actions
with  regard  to  significant  deficiencies  and  material  weaknesses.







                           PART II - OTHER INFORMATION

ITEM  1.     LEGAL  PROCEEDINGS

None

ITEM  2.     CHANGES  IN  SECURITIES

Neither  the  constituent  instruments  defining  the rights of the registrant's
securities  filers  nor  the  rights  evidenced  by the registrant's outstanding
common  stock  have  been  modified,  limited  or  qualified.

During  the  second  quarter  of  2003,  the Company sold stock subscriptions to
purchase  1,375,000  shares  of  its  restricted  common  stock and warrants for
$275,000.  The  sales  were to accredited investors and exempt from registration
pursuant  to  Section  4(2)  of  the  Securities  Act  of  1933.

ITEM  3.     DEFAULTS  UPON  SENIOR  SECURITIES

The  registrant  has  no  outstanding  senior  securities.

ITEM  4.     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

At  the annual meeting of shareholders held on September 30, 2003, the following
proposals  were  put  forth  and  voted  on  by the shareholders with results as
follows:

Proposal  One:  To elect John C. Lawrence, Robert A. Rice and Leo Jackson to our
board  of  directors  to serve for the ensuing year or until their successor are
duly  elected  and  qualified.

Results:

                                Yes     No     Abstain
                                ---
Board  Member:
--------------
                                Robert Rice     13,725,899     12,160     33,715
                                -----------     ----------     ------     ------
                                Leo Jackson     13,079,026     12,560     33,715
                                -----------     ----------     ------     ------
                            John C. Lawrence     13,606,356     6,860     33,515
                            ----------------     ----------     -----     ------

Proposal  Two:  To amend the Company's Articles of Incorporation to increase the
authorized  number  of  shares  of  Common  Stock  from  30,000,000  shares  to
50,000,000.

Results:

                                Yes     No     Abstain
                                ---     --     -------
                           Proposal Two     12,011,046     180,470     1,323,086
                           ------------     ----------     -------     ---------

Proposal  Three:  To ratify the appointment of DeCoria, Maichel & Teague P.S. as
the  Company's  independent  auditors  to examine the financial statement of the
Company  for  the  fiscal  year  ending  December  31,  2003.

Results:

                                Yes     No     Abstain
                                ---     --     -------
                             Proposal Three:     13,472,877     7,660     34,065
                             ---------------     ----------     -----     ------


ITEM  5.     OTHER  INFORMATION

None

ITEM  6.     EXHIBITS  AND  REPORTS  ON  FORM  8-K

Form  8-K  dated  October  10,  2003,  Item  5-Other  Events







          [The balance of this page has been intentionally left blank.]









<PAGE>
                                    SIGNATURE


  Pursuant to the requirements of Section 13 or 15(b) of the Securities Exchange
    Act of 1934, the Registrant has duly caused this report to be signed on its
              behalf by the undersigned, thereunto duly authorized.


                       UNITED STATES ANTIMONY CORPORATION
                                  (Registrant)



          By:/s/  John C. Lawrence   Date:  November 14, 2003

                    John C. Lawrence, Director and President
             (Principal Executive, Financial and Accounting Officer)


<PAGE>
                                  CERTIFICATION

I,  John  C.  Lawrence,  certify  that:

1.     I  have  reviewed  this  quarterly report on Form 10-QSB of United States
Antimony  Corporation

2.     Based  on my knowledge, this quarterly report does not contain any untrue
statement  of a material fact or omit to state a material fact necessary to make
the  statements  made, in light of the circumstances under which such statements
were  made,  not misleading with respect to the period covered by this quarterly
report;

3.     Based  on  my  knowledge,  the  financial statements, and other financial
information  included  in  this quarterly report, fairly present in all material
respects  the  financial  condition, results of operations and cash flows of the
Registrant  as  of  and  for  the  periods  presented  in this quarterly report.

4.     I am responsible for establishing and maintaining disclosure controls and
procedures  (as  defined  in  Exchange  Act  Rules  13a-14  and  15d-14) for the
Registrant  and  I  have:

a.     designed  such disclosure controls and procedures to ensure that material
information relating to the Registrant, including its consolidated subsidiaries,
is  made  known  to  us by others within those entities, particularly during the
period  in  which  this  quarterly  report  is  being  prepared;
b.     evaluated  the  effectiveness of the Registrant's disclosure controls and
procedures  as  of  a  date  within  90  days  prior  to the filing date of this
quarterly  report  (the  "Evaluation  Date");  and
c.     presented  in  this  quarterly  report  our  conclusions  about  the
effectiveness  of  disclosure controls and procedures based on our evaluation as
of  the  Evaluation  Date;

5.     I have disclosed, based on my most recent evaluation, to the Registrant's
auditors  and  the  audit  committee  of the Registrant's board of directors (or
persons  performing  the  equivalent  functions);

a.     all  significant  deficiencies  in  the  design or operations of internal
controls  which  could  adversely  affect  the  Registrant's  ability to record,
process,  summarize  and  report  financial  data  and  have  identified for the
Registrant's  auditors  any  material  weaknesses  in  internal  controls;  and
b.     any  fraud,  whether  or  not material, that involves management or other
employees who have a significant role in the Registrant's internal controls; and

6.     I  have indicated in this quarterly report whether there were significant
changes in internal controls or in other factors that could significantly affect
internal controls subsequent to the date of my most recent evaluation, including
any  corrective  actions  with  regard  to significant deficiencies and material
weaknesses.


Date: November 14, 2003


/s/ John C. Lawrence
John  C.  Lawrence
President,  Director  and  Principal  Financial  Officer






CERTIFICATION  PURSUANT  TO  THE  SARBANES-OXLEY  ACT
18  U.S.C.  SECTION  1350
AS  ADOPTED  PURSUANT  TO  SECTION  906
OF  THE  SARBANES-OXLEY  ACT  OF  2002

I,  John  C.  Lawrence,  President,  Director and Principal Financial Officer of
United  States  Antimony  Corporation  ("the  "Registrant")  do  hereby certify,
pursuant  to  18  U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley  Act  of  2002,  that,  to  my  knowledge:

1.     This  Quarterly  Report  on  Form 10-QSB of the Registrant for the period
ended  September  30, 2003, as filed with the Securities and Exchange Commission
(the  "Report"),  fully complies with the requirements of Section 13(a) or 15(d)
of  the  Securities  Exchange  Act  of  1934;  and

2.     The  information contained in the Report fairly presents, in all material
respects,  the  financial condition and results of operations of the Registrant.
Date: November 14, 2003

/s/ John C. Lawrence
John  C.  Lawrence
President,  Director  and  Principal  Financial  Officer