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, 2002

[ ]     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. Employer
incorporation or organization                         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  November  14,  2002, 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, 2002


<TABLE>
<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


SIGNATURES.................................................................10

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

</TABLE>





         [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>
                                                                                    2002            2001
                                               ASSETS
Current assets:
  Restricted cash. . . . . . . . . . . . . . . . . . . . . . . . . . . .  $      100,827   $       3,803
  Accounts receivable, less allowance
    for doubtful accounts of $30,000 . . . . . . . . . . . . . . . . . .         135,789         105,084
  Inventories. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          99,950         126,075
                                                                          ---------------  --------------
          Total current assets . . . . . . . . . . . . . . . . . . . . .         336,566         234,962

Investment in USAMSA, net. . . . . . . . . . . . . . . . . . . . . . . .          77,703          95,734
Properties, plants and equipment, net. . . . . . . . . . . . . . . . . .         518,978         307,373
Restricted cash for reclamation bonds. . . . . . . . . . . . . . . . . .          84,209          87,550
                                                                          ---------------  --------------
          Total assets . . . . . . . . . . . . . . . . . . . . . . . . .  $    1,017,456   $     725,619
                                                                          ===============  ==============

                                 LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
  Checks issued and payable. . . . . . . . . . . . . . . . . . . . . . .  $       80,519   $      61,121
  Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . .         726,442         624,588
  Accrued payroll and property taxes . . . . . . . . . . . . . . . . . .         263,622         256,320
  Accrued payroll. . . . . . . . . . . . . . . . . . . . . . . . . . . .          25,940          26,150
  Other current liabilities. . . . . . . . . . . . . . . . . . . . . . .          55,166          56,640
  Judgment payable . . . . . . . . . . . . . . . . . . . . . . . . . . .          49,073          46,523
  Accrued interest payable . . . . . . . . . . . . . . . . . . . . . . .          14,640          14,640
  Payable to related parties . . . . . . . . . . . . . . . . . . . . . .         177,961         121,082
  Notes payable to bank, current . . . . . . . . . . . . . . . . . . . .         220,448         119,431
  Stock subscription payable . . . . . . . . . . . . . . . . . . . . . .          10,000
  Accrued reclamation costs, current . . . . . . . . . . . . . . . . . .          93,984         137,639
                                                                          ---------------  --------------
          Total current liabilities. . . . . . . . . . . . . . . . . . .       1,717,795       1,464,134

Notes payable to bank, noncurrent. . . . . . . . . . . . . . . . . . . .         361,811         341,845
Accrued reclamation costs, noncurrent. . . . . . . . . . . . . . . . . .          87,524          87,524
                                                                          ---------------  --------------
          Total liabilities. . . . . . . . . . . . . . . . . . . . . . .       2,167,130       1,893,503
                                                                          ---------------  --------------

Commitments and contingencies (Note 3)

Stockholders' deficit:
  Preferred stock, $.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:  96,000 shares issued and outstanding
  Common stock, $.01 par value, 30,000,000 shares
    authorized; 27,027,959 issued and outstanding at September 30, 2002
    and 26,156,959 shares issued and outstanding at December 31, 2001. .         270,279         261,569
  Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . .      16,962,969      16,791,610
  Accumulated deficit. . . . . . . . . . . . . . . . . . . . . . . . . .     (18,392,246)    (18,230,387)
                                                                          ---------------  --------------
          Total stockholders' deficit. . . . . . . . . . . . . . . . . .      (1,149,674)     (1,167,884)
                                                                          ---------------  --------------
          Total liabilities and stockholders' deficit. . . . . . . . . .  $    1,017,456   $     725,619
                                                                          ===============  ==============
</TABLE>

        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,
                                                   2002            2001          2002           2001

<S>                                                   <C>           <C>           <C>           <C>
Revenues:
  Sales of antimony products and other          $   863,625   $   778,533   $ 2,489,997   $ 2,816,573
  Sales of zeolite products                          44,740         4,080       150,647         6,735
                                                ------------  ------------  ------------  ------------
                                                    908,365       782,613     2,640,644     2,823,308

  Cost of production-antimony                       666,906       573,661     1,960,120     2,197,430
  Cost of production-zeolite                         56,207                     168,909
  Freight and delivery                               84,546        85,517       278,688       308,052
                                                ------------  ------------  ------------  ------------
                                                    807,659       659,178     2,407,717     2,505,482

  Gross profit                                      100,706       123,435       232,927       317,826
                                                ------------  ------------  ------------  ------------

Other operating expenses:
  Bear River Zeolite                                 38,202        87,915       150,883       253,583
  Care, maintenance, and
    reclamation-Yellow Jacket                                       1,813                       4,673
  General and administrative                         89,248       153,768       254,666       484,376
  Sales expenses                                     17,801        33,367        62,199       106,205
                                                ------------  ------------  ------------  ------------
                                                    145,251       276,863       467,748       848,837
                                                 ------------  ------------  ------------  -----------
Other (income) expense:
  Interest expense                                   20,234        37,999        57,607       119,599
  Factoring expense                                  27,217        24,312        72,544        71,487
  Interest income and other                          (1,663)       (1,267)       (3,113)       (4,236)
  Sale of Bear River Zeolite royalty                (50,000)                   (200,000)
                                                 ------------  ------------   ------------  ----------
                                                     (4,212)       61,044       (72,962)       186,850
                                                 ------------  ------------    -----------   ---------

Net loss                                        $   (40,333)  $  (214,472)  $  (161,859)  $  (717,861)
                                                ============  ============  ============  ============

Basic net loss per share of common stock.       $    Nil      $     (0.01)  $     (0.01)  $     (0.04)
                                             =  ============  ============  ============  ============

Basic weighted average shares outstanding        27,027,959    19,259,510    26,865,026    18,827,720
                                                ============  ============  ============  ============




</TABLE>

     The accompanying notes are an integral part of the financial statements.
                                             2
<PAGE>

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS  (UNAUDITED)
<TABLE>
<CAPTION>



                                                            FOR THE NINE MONTHS ENDED
                                                           SEPTEMBER 30, SEPTEMBER  30,
                                                              2002         2001
<S>                                                              <C>         <C>
Cash flows from operating activities:
  Net income (loss). . . . . . . . . . . . . . . . . . . .  $(161,859)  $(717,861)
  Adjustments to reconcile net income (loss) to
    net cash used by operations:
      Depreciation and amortization. . . . . . . . . . . .     67,322     132,696
      Accrued reclamation costs. . . . . . . . . . . . .             .      7,500
      Series D stock issued for services                        8,000
  Change in:
        Restricted cash. . . . . . . . . . . . . . . . . .    (97,025)     (2,706)
        Accounts receivable. . . . . . . . . . . . . . . .    (30,705)     44,494
        Inventories. . . . . . . . . . . . . . . . . . . .     26,125      88,048
        Restricted cash for reclamation bonds. . . . . . .      3,341      20,700
        Accounts payable . . . . . . . . . . . . . . . . .    101,854     181,908
        Accrued payroll and property taxes . . . . . . . .      7,302     (48,686)
        Accrued payroll and other liabilities. . . . . . .     (1,684)     66,410
        Judgment payable . . . . . . . . . . . . . . . . .      2,550       2,283
        Accrued debenture interest payable . . . . . . . .                 76,725
        Payable to related parties . . . . . . . . . . . .                (20,118)
        Accrued reclamation costs. . . . . . . . . . . . .    (43,656)    (49,163)
                                                            ----------  ----------
          Net cash used by operating activities. . . . . .   (118,435)   (217,770)
                                                            ----------  ----------

Cash flows from investing activities:
  Purchase of properties, plants and equipment . . . . . .   (260,895)   (107,592)
                                                            ----------  ----------
          Net cash used in investing activities. . . . . .   (260,895)   (107,592)
                                                            ----------  ----------

Cash flows from financing activities:
  Proceeds from issuance of common stock and warrants. . .    172,070     188,300
  Proceeds from stock subscription . . . . . . . . . . . .     10,000
  Payments on notes payable to bank. . . . . . . . . . . .   (274,017)
  Proceeds from related party advances . . . . . . . . . .     56,879      94,895
  Proceeds from notes payable to bank, net . . . . . . . .    395,000      81,757
  Change in checks issued and payable. . . . . . . . . . .     19,398     (39,590)
                                                            ----------  ----------
          Net cash provided by financing activities. . . .    379,330     325,362
                                                            ----------  ----------
Net change in cash . . . . . . . . . . . . . . . . . . . .          0           0
Cash, beginning of period. . . . . . . . . . . . . . . . .          0           0
                                                            ----------  ----------
Cash, end of period. . . . . . . . . . . . . . . . . . . .  $       0   $       0
                                                            ==========  ==========

Supplemental disclosures:
  Cash paid during the period for interest . . . . . . . .  $  45,765   $  25,809
                                                            ==========  ==========
Non-cash investing activities:
  Common stock and warrants issued for plant construction.              $   2,500
                                                                        ==========


</TABLE>

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

<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 United
States  Antimony  Corporation  ("USAC"  or  "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-month period ended September 30, 2002 are not
necessarily  indicative  of  the  results that may be expected for the full year
ending  December 31, 2002.  Certain consolidated financial statement amounts for
the  three  and  nine-month  periods  ended  September  30,  2001,  have  been
reclassified  to  conform to the 2002 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,
2001.

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
requiring  cleanup  of the cyanide solution. The Company has been reclaiming the
property  and,  as  of  December  31,  2001,  the  cyanide  solution cleanup was
complete, the mill removed, and a majority of the cyanide leach residue disposed
of.  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, which the Company signed in December
1996.

In  November  of  2001,  the  Environmental Protection Agency ("EPA") listed two
by-products  of  the Company's antimony oxide manufacturing process as hazardous
wastes.  Antimony  slag  and  antimony  bag  house  filters  are  now subject to
comprehensive  management  and  treatment  standards  under  subtitle  C  of the
Resource  Conservation  and  Recovery  Act  ("RCRA"), and emergency notification
requirements  for  releases  to  the environment under CERCLA.  During 2001, the
Company  adjusted  its reclamation accrual at its antimony processing site based
on an estimate of costs associated with disposing the Company's current antimony
slag  inventory  according  to  EPA  universal  treatment standards. While it is
reasonably  probable  that  additional  future  costs will result from the EPA's
listings,  the  additional  costs  are  not  estimable  at December 31, 2001 and
September  30,  2002,  and  accordingly  have  not  been  accrued  for.

                                     4
<PAGE>

UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY

NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS  (UNAUDITED),  CONTINUED:

3.          COMMITMENTS  AND  CONTINGENCIES,  CONTINUED:

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.

During  2001, the Company issued a number of shares in transactions that may not
qualify  for exemption from the Securities Act registration requirements and may
be  in  violation  of  Section 5 of the Securities Act of 1933.  As a result the
Company  may  be subject to liabilities associated with the rescission rights of
the  purchasers  of  these  shares  and  fines  and  penalties  from  securities
regulators.  At  September  30,  2002 and December 31, 2001, the Company had not
recorded  any  liability  associated  with  the  issuance  of  these  shares, as
management believes the likelihood of a claim, and the ultimate economic outcome
if  a  claim  is  asserted,  cannot  be  ascertained  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, 2002 compared to the three-month
period  ended  September  30,  2001

On  August  23,  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 1% royalty on
all  zeolite ore extracted and sold from BRZ's Webster Farm zeolite property. As
consideration  for  the royalty the Company received $50,000. 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.  Mr. Dugan purchased a 2%
royalty  on  all  zeolite  ore  extracted and sold from the Company for $150,000
during  the  second  quarter  of  2002.

The  Company's  operations  resulted  in net loss of $40,333 for the three-month
period  ended  September  30, 2002, compared with a net loss of $214,472 for the
three-month period ended September 30, 2001. The decrease in net loss during the
third  quarter  of  2002  compared to the net loss during the similar quarter of
2001  is  primarily  due  to  the  sale  of  a  royalty in the Company's zeolite
operations,  decreased  general  and  administrative  expenses  during the third
quarter  of  2002,  and  an  increase  in  antimony  sales  of  $85,092.


                                            5
<PAGE>


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

Total  revenues  from  antimony product sales for the third quarter of 2002 were
$832,625  compared  with  $778,533  during  the  comparable  quarter of 2001, an
increase  of  $54,092.  During  the three-month period ended September 30, 2002,
38.92%, of the Company's revenues from antimony product sales were from sales to
one  customer and 12.56% were from sales to a second individual customer.  Sales
of  antimony  products  during  the third quarter of 2002 consisted of 1,062,413
pounds at an average sale price of $0.81 per pound.  During the third quarter of
2001  sales  of antimony products consisted of 904,048 pounds at an average sale
price  of  $0.86  per  pound.

Sales of zeolite products during the third quarter of 2002 were $44,740 compared
to  sales  of $4,080 during the third quarter of 2001, an increase of $40,660 or
almost  1000%.  Gross  profit  from  antimony and zeolite sales during the third
three-month  period  of 2002 was $100,706 compared with gross profit of $123,435
during  the  third  three-month  period  of  2001.

During the third quarter of 2002, the Company incurred expenses totaling $38,202
associated  with  sales,  plant  expansion  and  diversification and general and
administrative  expenses  of  its  wholly  owned subsidiary, Bear River Zeolite,
compared  to  $87,915  of  expenses  in  the  comparable  quarter  of  2001.

General  and  administrative  expenses  were $89,248 during the third quarter of
2002,  compared  to  $153,768  during the third quarter of 2001. The decrease in
general and administrative expenses during the third quarter of 2002 compared to
the  same  quarter  of  2001  was  partially  due  to  the  absence of legal and
accounting  expenses associated with the preparation of a registration statement
during  the  third  quarter  of  2001.

During  the  third  quarter  the  Company  issued  96,000 shares of its Series D
convertible  stock  to  the  Company's  directors  and its attorney for services
rendered.  In  connection  with  the  issuance,  the  Company recorded $8,000 in
expense  based  on  the  fair  value  of  the  services  rendered.

Sales  expenses  were  $17,801  during  the  third quarter of 2002 compared with
$33,367  in  the  third quarter of 2001, the decrease was principally due to the
allocation  of  a  portion  of  USAC's  sales  and  labor  costs  to  BRZ.

Interest  expense  was  $20,234  during  the  third quarter of 2002, compared to
interest  expense  of  $37,999  incurred  during  the third quarter of 2001; the
decrease in interest expense was due to the conversion of outstanding debentures
during  the  fourth  quarter  of  2001.

Accounts  receivable  factoring  expense was $27,217 during the third quarter of
2002  compared to $24,312 of factoring expense incurred during the third quarter
of  2001.  The  increase was primarily due to an increase in accounts receivable
factored  during  the  third  quarter  of  2002  compared  to  2001.

Interest income increased from $1,267 during the third quarter of 2001 to $1,663
during  the  third  quarter  of  2002.  The  increase was due to a corresponding
decrease  in  interest  bearing  reclamation  bonds.

For  the  nine-month  period ended September 30, 2002 compared to the nine-month
period  ended  September  30,  2001

The  Company's  operations resulted in a net loss of $161,859 for the nine-month
period  ended  September  30, 2002, compared with a net loss of $717,861 for the
nine-month  period  ended  September 30, 2001. The decrease in net loss from the
first nine months of 2001 compared to the first nine months of 2002 is primarily
due  to decreased general and administrative expenses during 2002, the sale of a
royalty  in  the  Company's  zeolite operations, and decreased interest expense.

                                        6
<PAGE>



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

Total  revenues  from  antimony  product sales for the first nine months of 2002
were  $2,458,997  compared  with $2,816,573 for the comparable period of 2001, a
decrease  of  $357,576.  During  the nine-month period ended September 30, 2002,
38.53% of the Company's revenues from antimony products sales were from sales to
one  customer  and 8.76% were from sales to a second individual customer.  Sales
of antimony products during the first nine months of 2002 consisted of 2,992,407
pounds  at  an  average  sale  price  of $0.83 per pound.  During the first nine
months  of  2001  sales of antimony products consisted of 3,033,482 pounds at an
average  sale  price of $0.93 per pound. The decrease in sale prices of antimony
products  from the first nine months of 2001 to the first nine months of 2002 is
the  result  of  a corresponding decrease in antimony metal prices and accounted
for  decreased  gross  profits  for  2002.

Sales  of  zeolite  products  during the first nine months of 2002 were $150,647
compared  to sales of $6,735 during the comparable period of 2001 an increase of
$143,912  or  2100%.  Gross  profit  from  antimony and zeolite sales during the
first  nine-month  period  of  2002  was  $232,927 compared with gross profit of
$317,826  during  the  same nine-month period of 2001. The fall in gross profits
during  2002  was  due  to  a  $0.10  per  pound  reduction  in  sales  price.

During  the  first  nine  months of 2002, the Company incurred expenses totaling
$150,883  associated with sales, plant expansion and diversification and general
and  administrative expenses of its wholly owned subsidiary, Bear River Zeolite,
compared  to  $253,583  of  expenses  during  the  comparable  period  of  2001.

General  and  administrative expenses were $254,666 during the first nine months
of  2002,  compared  to  $484,376  during  the  first  nine months of 2001.  The
decrease  in general and administrative expenses during the first nine months of
2002  compared  to  the same period of 2001 was partially due to decreased legal
and  accounting  expenses  associated  with  the  preparation  of a registration
statement  during  2001  and  the  allocation of a portion of USAC's general and
administrative  costs  to  BRZ.

Sales  expenses  were $62,199 during the first nine months of 2002 compared with
$106,205  in  the first nine months of 2001, the decrease was principally due to
the  allocation  of  a  portion  of  the  Company's  sales  costs  to  BRZ.

Interest  expense  was $57,607 during the first nine months of 2002, compared to
interest  expense of $119,599 incurred during the first nine months of 2001; the
decrease in interest expense was due to the conversion of outstanding debentures
during  the  fourth  quarter  of  2001.

Accounts  receivable  factoring expense was $72,544 during the first nine months
of  2002  and was comparable to $71,487 of factoring expense incurred during the
first  nine  months  of  2001.

Interest  income  decreased  from $4,236 during the first nine months of 2001 to
$3,113  during  the  first  nine  months  of  2002.  The  decrease  was due to a
corresponding  decrease  in  interest  bearing  reclamation  bonds.

Financial  Condition  and  Liquidity

At  September  30,  2002,  Company  assets  totaled  $1,017,456, and there was a
stockholders' deficit of $1,149,674. The stockholders' deficit decreased $18,210
from December 31, 2001, primarily due to sales of restricted common stock during
the  first  two  quarters  of  2002.  At September 30, 2002, the Company's total
current  liabilities exceeded its total current assets by $1,381,229. 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 2001
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.
                                    7

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

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 2002 was
$118,435,  and  resulted  primarily  from  the  nine-month net loss of $161,859.

Cash  used  in  investing  activities  during  the first nine months of 2002 was
$260,895  and was almost entirely  related to the construction of capital assets
at  the  Bear  River  Zeolite  facility.

Cash  provided by financing activities was $379,330 during the first nine months
of  2002,  and  was  principally  generated  by  sales  of  871,000  shares  of
unregistered  common  stock  for  $172,070 and additional notes payable to bank.
During  the  third  quarter  of 2002 the Company had stock subscriptions payable
relating to sales of 50,000 shares of restricted common stock at $0.20, issuable
when  and if the Company had authorized shares to issue.  At September 30, 2002,
the  Company  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.










                                         8

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                           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.  The Company sold 871,000
shares of its common stock for a total of $172,070, during the first nine months
of  2002  pursuant  to  exemptions  from  registration under Section 4(2) of the
Securities  Act  of  1933  as  amended.

ITEM  3.     DEFAULTS  UPON  SENIOR  SECURITIES

The  registrant  has  no  outstanding  senior  securities.

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

None

ITEM  5.     OTHER  INFORMATION

None

ITEM  6.     EXHIBITS  AND  REPORTS  ON  FORM  8-K

Exhibits

10.47     Bear  River  Zeolite  Company  Royalty  Agreement,  dated May 29, 2002
10.48     Grant  of  Production  Royalty,  dated  June  1,  2002
10.49     Assignment  of  Common  Stock of Bear River Zeolite Company, dated May
29,  2002
10.50     Agreement  to  Issue  Warrants  of  USA,  dated  May  29,  2002

Reports  on  Form  8-K

3.4       Articles  of  Amendment  to the Articles of Incorporation of United
          States  Antimony  Corporation











                                            9

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                                    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 19, 2002
                    --------------------------------------------
                    John C. Lawrence, Director and President
                 (Principal Executive, Financial and Accounting
                                    Officer)



                                  10
<PAGE>
                                 CERTIFICATIONS


I,  John  C.  Lawrence  certify  that:

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

2.     Based  on my knowledge, this 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 report.

3.     Based  on  my  knowledge  the  financial  statements, and other financial
information included in this 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  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  we  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,  or  the  Evaluation  date;  and

c)     Presented  in  this  quarterly  report  our  conclusions  about  the
effectiveness  of the disclosure controls and procedures based on our evaluation
as  of  the  Evaluation  Date:

5.     I  have  disclosed,  based  on  our  most  recent  evaluation,  to  the
registrant's  auditors  and  the  audit  committee  of the registrant's board of
directors  (or  persons  performing  the  equivalent  functioning):

a)     All  significant  deficiencies  in  the  design  or operation 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 or not there were
significant  changes  in  internal  controls  or  in  other  factors  that could
significantly affect internal controls subsequent to the date of our most recent
evaluation,  including  any  corrective  actions  with  regard  to  significant
deficiencies  and  material  weaknesses.

Date:     November  19,  2002

     /s/  John  C.  Lawrence

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


                                      11

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