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 June 30, 2004

[ ]   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                         (I.R.S. Employer
of 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  August  12,  2004,  the  registrant had outstanding 30,748,816 shares of par
value  $0.01  common  stock.


<PAGE>


                       UNITED STATES ANTIMONY CORPORATION
                         QUARTERLY REPORT ON FORM 10-QSB
                            FOR THE QUARTERLY PERIOD
                               ENDED JUNE 30, 2004


<TABLE>
<CAPTION>


<S>                                                                      <C>
TABLE OF CONTENTS


                                                                         Page

PART I - FINANCIAL INFORMATION

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

Item 2: Management's Discussion and Analysis of Financial Condition and
            Results of Operations . . . . . . . . . . . . . . . . . . .     6

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


</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)
                                                                        JUNE  30,      DECEMBER  31,
                                                                          2004             2003
                                                         ASSETS

<S>                                                                 <C>                                    <C>
Current assets:
Accounts receivable, less allowance
    for doubtful accounts of $30,000 . . . . . . . . . . . . . . .  $      42,551   $     51,081
Inventories. . . . . . . . .   . . . . . . . . . . . . . . . . . .        140,136        153,053
                                                                    --------------  -------------
          Total current assets . . . . . . . . . . . . . . . . . .        182,687        204,134

Investment in USAMSA, net. . . . . . . . . . . . . . . . . . . . .         11,113         11,913
Properties, plants and equipment, net. . . . . . . . . . . . . . .        633,400        554,311
Restricted cash for bank note payable. . . . . . . . . . . . . . .              0        105,649
Restricted cash for reclamation bonds. . . . . . . . . . . . . . .         99,043         99,043
Deferred financing costs . . . . . . . . . . . . . . . . . . . . .         26,251         30,000
                                                                    --------------  -------------
          Total assets . . . . . . . . . . . . . . . . . . . . . .  $     952,494   $  1,005,050
                                                                    ==============  =============

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
  Checks issued and payable. . . . . . . . . . . . . . . . . . . .  $     103,625   $     87,927
  Accounts payable . . . . . . . . . . . . . . . . . . . . . . . .        559,824        909,696
  Accrued payroll and property taxes . . . . . . . . . . . . . . .        158,583        197,761
  Accrued payroll and other. . . . . . . . . . . . . . . . . . . .         90,324         88,085
  Judgment payable . . . . . . . . . . . . . . . . . . . . . . . .         54,830         53,130
  Accrued interest payable . . . . . . . . . . . . . . . . . . . .         19,606         16,645
  Payable to related parties . . . . . . . . . . . . . . . . . . .        241,854        232,111
  Notes payable to bank, current . . . . . . . . . . . . . . . . .        139,736        144,391
  Accrued reclamation costs, current . . . . . . . . . . . . . . .        151,000        151,000
                                                                    --------------  -------------
          Total current liabilities. . . . . . . . . . . . . . . .      1,519,382      1,880,746

Secured convertible and convertible notes payable. . . . . . . . .        350,000        350,000
Notes payable to bank, noncurrent. . . . . . . . . . . . . . . . .        393,827        409,141
Accrued reclamations costs, noncurrent . . . . . . . . . . . . . .         57,500         57,500
                                                                    --------------  -------------
          Total liabilities. . . . . . . . . . . . . . . . . . . .      2,320,709      2,697,387
                                                                    --------------  -------------

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
        (liquidation preference $123,750 at December 31, 2003) . .             45             45
      Series B: 750,000 shares issued and outstanding
        (liquidation preference $825,000 at December 31, 2003) . .          7,500          7,500
      Series C: 177,904 shares issued and outstanding
        (liquidation preference $97,847 at December 31, 2003). . .          1,779          1,779
      Series D: 1,836,672 shares issued and outstanding
        (liquidation preference $4,659,180 at December 31, 2003) .         18,636         18,636
  Common stock, $0.01 par value, 50,000,000 shares
    authorized; 30,748,816 and 28,114,288 issued and outstanding .         307,489        281,143
  Additional paid-in capital . . . . . . . . . . . . . . . . . . .      17,908,984     17,387,970
  Accumulated deficit. . . . . . . . . . . . . . . . . . . . . . .     (19,612,648)   (19,389,410)
                                                                   ----------------  -------------
          Total stockholders' deficit. . . . . . . . . . . . . . .      (1,368,215)    (1,692,337)
                                                                   ----------------  -------------
          Total liabilities and stockholders' deficit. . . . . . .  $      952,494   $  1,005,050
                                                                    ===============  =============

</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  SIX  MONTHS  ENDED
                                                   JUNE  30,      JUNE  30,       JUNE  30,     JUNE  30,
                                                     2004           2003           2004          2003

<S>                                               <C>           <C>           <C>           <C>
Revenues:
  Sales of antimony products and other . . . . .  $   510,324   $   542,359   $ 1,092,739   $ 1,561,855
  Sales of zeolite products. . . . . . . . . . .      342,013       143,058       537,099       263,758
                                                  ------------  ------------  ------------  ------------
                                                      852,337       685,417     1,629,838     1,825,613

Cost of sales:
  Cost of antimony production. . . . . . . . . .      442,614       470,254       849,235     1,245,920
  Cost of zeolite production . . . . . . . . . .      192,320       129,269       346,920       252,537
  Antimony depreciation. . . . . . . . . . . . .       10,300         9,476        20,600        18,953
  Zeolite depreciation . . . . . . . . . . . . .       13,800        13,686        27,600        27,372
  Antimony freight and delivery. . . . . . . . .       35,526        62,635        79,683       140,313
  Zeolite freight and delivery . . . . . . . . .      115,843        18,058       130,514        38,651
                                                  ------------  ------------  ------------  ------------
                                                      810,403       703,378     1,454,552     1,723,746

Gross profit (loss). . . . . . . . . . . . . . .       41,934       (17,961)      175,286       101,867
                                                  ------------  ------------  ------------  ------------

Other operating expenses:
  Bear River Zeolite general and administrative.       18,789        69,860        89,950       143,174
  Antimony general and administrative. . . . . .       62,004        98,995       152,544       229,879
  Bear River Zeolite sales expenses. . . . . . .       15,428        14,829        34,592        29,265
  Antimony sales expenses. . . . . . . . . . . .       11,805         9,398        25,873        34,966
                                                  ------------  ------------  ------------  ------------
                                                      108,026       193,082       302,959       437,284
                                                  ------------  ------------  ------------  ------------
Other (income) expense:
  Interest expense . . . . . . . . . . . . . . .       30,473        16,651        57,785        33,027
  Factoring expense. . . . . . . . . . . . . . .       20,964        27,659        40,243        61,224
  Interest income and other. . . . . . . . . . .       (1,977)       (5,044)       (2,463)       (5,649)
                                                  ------------  ------------  ------------  ------------
                                                       49,460        39,266        95,565        88,602
                                                  ------------  ------------  ------------  ------------

Net loss . . . . . . . . . . . . . . . . . . . .  $  (115,552)  $  (250,309)  $  (223,238)  $  (424,019)
                                                  ============  ============  ============  ============

Basic net loss per share of common stock . . . .  $       Nil   $       Nil   $       Nil   $       Nil
                                                  ============  ============  ============  ============

Basic weighted average shares outstanding. . . .   30,435,217    27,027,959    29,512,745    27,027,959
                                                  ============  ============  ============  ============

</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  SIX  MONTHS  ENDED
                                                                     JUNE  30,     JUNE  30,
                                                                       2004         2003

<S>                                                                  <C>         <C>
Cash flows from operating activities:
  Net loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $(223,238)  $(424,019)
  Adjustments to reconcile net loss to net cash used by operations:
      Depreciation and amortization . . . . . . . . . . . . . . . .     52,750      50,324
      Series D stock issued to directors. . . . . . . . . . . . . .          0       7,800
      Series D stock issued for legal services. . . . . . . . . . .          0      20,100
    Change in:
        Restricted cash . . . . . . . . . . . . . . . . . . . . . .    105,649     (11,484)
        Accounts receivable . . . . . . . . . . . . . . . . . . . .      8,530      76,712
        Inventories . . . . . . . . . . . . . . . . . . . . . . . .     12,917      36,204
        Accounts payable. . . . . . . . . . . . . . . . . . . . . .   (199,727)     67,029
        Accrued payroll and property taxes. . . . . . . . . . . . .    (39,178)    (68,492)
        Accrued payroll and other . . . . . . . . . . . . . . . . .      2,239       6,106
        Judgment payable. . . . . . . . . . . . . . . . . . . . . .      1,700       1,700
        Accrued interest payable. . . . . . . . . . . . . . . . . .      2,961      (4,023)
        Payable to related parties. . . . . . . . . . . . . . . . .      9,743     (44,310)
        Accrued reclamation costs . . . . . . . . . . . . . . . . .          0     (13,255)
                                                                     ----------  ----------
          Net cash used by operating activities . . . . . . . . . .   (265,654)   (299,608)
                                                                     ----------  ----------

Cash flows from investing activities:
  Purchase of properties, plants and equipment. . . . . . . . . . .   (127,289)    (32,573)
                                                                     ----------  ----------
          Net cash used in investing activities . . . . . . . . . .   (127,289)    (32,573)
                                                                     ----------  ----------

Cash flows from financing activities:
  Proceeds from stock subscriptions payable                                  0     275,000
  Proceeds from issuance of common stock and warrants . . . . . . .     10,000           0
  Proceeds from exercise of warrants. . . . . . . . . . . . . . . .    387,214           0
  Payments on notes payable to bank, net. . . . . . . . . . . . . .   (142,090)    (62,170)
  Proceeds from notes payable to bank . . . . . . . . . . . . . . .    122,121      49,368
  Change in checks issued and payable . . . . . . . . . . . . . . .     15,698      69,983
                                                                     ----------  ----------
          Net cash provided by financing activities . . . . . . . .    392,943     332,181
                                                                     ----------  ----------

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

Supplemental disclosures:
  Non cash financing activities:
    Common stock issued in satisfaction of accounts payable . . . .  $ 150,145
                                                                     ==========
</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 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 three-month
period  ended  June  30, 2004 are not necessarily indicative of the results that
may  be  expected  for  the  full  year  ending  December  31,  2004.  Certain
consolidated  financial  statement amounts for the three and six-month periods
ended June 30,  2003  have  been  reclassified  to conform to the 2004
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,
2003.

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.

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.

                                      4
<PAGE>


UNITED  STATES  ANTIMONY  CORPORATION  AND  SUBSIDIARY
NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS  (UNAUDITED),  CONTINUED:

3.  COMMITMENTS  AND  CONTINGENCIES,  CONTINUED:

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.

4.     BUSINESS  SEGMENTS

The  Company  has  two  operating  segments,  antimony  and zeolite.  Management
reviews and evaluates the operating segments exclusive of interest and factoring
expenses.  Therefore,  interest  expense  is  not  allocated  to  the  segments.
Selected  information  with  respect to segments for the quarters ended June 30,
2004  and  2003  are  as  follows:
<TABLE>
<CAPTION>


                                           2004     2003

<S>                                      <C>       <C>
Revenues:
    Antimony. . . . . . . . . . . . . .  $510,324  $542,359
    Zeolite . . . . . . . . . . . . . .   342,013   143,058
                                         --------  ---------
                                         $852,337  $685,417
                                         ========  =========
Cost of sales:
  Production and freight and delivery:
    Antimony. . . . . . . . . . . . . .  $478,140  $532,889
    Zeolite . . . . . . . . . . . . . .   308,163   147,327
  Depreciation:
    Antimony. . . . . . . . . . . . . .    10,300     9,476
    Zeolite . . . . . . . . . . . . . .    13,800    13,686
                                         --------  ---------
                                         $810,403  $703,378
                                         ========  =========

Gross profit (loss) . . . . . . . . . .  $ 41,934  $(17,961)
                                         ========  =========

Other operating expenses:
  Sales expense:
    Antimony. . . . . . . . . . . . . .  $ 11,805  $  9,398
    Zeolite . . . . . . . . . . . . . .    15,428    14,829
  General and administrative expense:
    Antimony. . . . . . . . . . . . . .    62,004    98,995
    Zeolite . . . . . . . . . . . . . .    18,789    69,860
                                         --------  ---------
                                         $108,026  $193,082
                                         ========  =========

Capital expenditures:
    Antimony. . . . . . . . . . . . . .  $ 19,700  $      0
    Zeolite . . . . . . . . . . . . . .    58,218    23,099
                                         --------  ---------
                                         $ 77,218  $ 23,099
                                         ========  =========

Properties, plant and equipment, net:
    Antimony. . . . . . . . . . . . . .  $128,208  $128,934
    Zeolite . . . . . . . . . . . . . .   505,192   386,731
                                         --------  ---------
                                         $633,400  $515,665
                                         ========  =========

</TABLE>

                                 5
<PAGE>


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  June  30, 2004 compared to the three-month
period  ended  June  30,  2003

The  Company's operations resulted in a net loss of $115,552 for the three-month
period  ended  June  30,  2004,  compared  with  a  net loss of $250,309 for the
three-month  period  ended  June  30,  2003. The decrease in net loss during the
second  quarter  of  2004 compared to the net loss during the similar quarter of
2003  is primarily due to an increase in zeolite sales and a decrease in general
and administrative costs in the Bear River Zeolite Division. The Company expects
that  in  the fourth quarter of 2004 the worker's compensation insurance expense
for  the  Company  will  decrease  dramatically.

Total  revenues  from antimony product sales for the second quarter of 2004 were
$510,324  compared  with  $542,359  during  the  comparable  quarter  of 2003, a
decrease  of  $32,035. During the three-month period ended June 30, 2004, 69% of
the  Company's  revenues  from  antimony  product  sales  were from sales to one
customer  (Kohler  Co.)  and  10.49%  were  from  sales  to  a second individual
customer.  Sales  of  antimony  products  during  the  second  quarter  of  2004
consisted of 326,465 pounds at an average sale price of $1.56 per pound.  During
the  second  quarter  of  2003  sales  of antimony products consisted of 435,396
pounds  at an average sale price of $1.25 per pound. The increase in sale prices
of  antimony  products  from the second quarter of 2003 to the second quarter of
2004  is  the  result of a corresponding increase in antimony metal prices.  The
decrease  in  pounds of antimony sold is attributed to difficulties in procuring
low  priced  raw  material  inventory  and  competition  from Chinese suppliers.

Sales  of  zeolite  products  during  the  second  quarter of 2004 were $342,013
compared  to  sales of $143,058 during the second quarter of 2003.  Gross profit
from antimony and zeolite sales during the second three-month period of 2004 was
$41,934 compared with gross loss of $17,961 during the second three-month period
of  2003.

During  the  second  quarter  of  2004,  the  Company incurred expenses totaling
$34,217  associated  with  sales  development  and  general  and  administrative
expenses of its wholly owned subsidiary, Bear River Zeolite, compared to $84,689
of expenses in the comparable quarter of 2003.  The decrease in BRZ expenses was
principally  due  to  a  decrease  in general and administrative expenses in the
second  quarter  2004.

Antimony  general  and  administrative  expenses  were $62,004 during the second
quarter  of  2004,  compared  to $98,995 during the second quarter of 2003.  The
decrease  in  general  and  administrative expenses during the second quarter of
2004  compared  to  the  same  quarter  of  2003  was  due  to decreased repair,
maintenance  and  legal  expenses.

Antimony  sales expenses were $11,805 during the second quarter of 2004 compared
with  $9,398  in  the  second  quarter  of  2003.

                                  6
<PAGE>


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

Interest  expenses  were  $30,473 during the second quarter of 2004, compared to
interest  expense  of  $16,651  incurred  during the second quarter of 2003; the
increase  in  interest  expense  was  due  to the additional interest accrued on
convertible  notes.

Accounts  receivable  factoring expense was $20,964 during the second quarter of
2004 compared to $27,659 of factoring expense incurred during the second quarter
of  2003.  The  decrease  was  primarily  due  to a decrease in finance charges.

Interest  and  other  income  increased from $1,977 during the second quarter of
2004  to  $5,044  during  the second quarter of 2003.  The decrease was due to a
corresponding  decrease  in  related  cash  bonds.

For  the  six-month  period ended June 30, 2004 compared to the six-month period
ended  June  30,  2003

The  Company's  operations  resulted in a net loss of $223,238 for the six-month
period  ended  June  30,  2004,  compared  with  a  net loss of $424,019 for the
six-month  period  ended  June 30, 2003. The decrease in net loss from the first
six  months  of 2004 compared to the first six months of 2003 is primarily due a
decrease  in  general  administrative  and  factoring  expenses  in  2004.

Total revenues from antimony product sales for the first six months of 2004 were
$1,092,739  compared  with  $1,561,855  for  the  comparable  period  of 2003, a
decrease of $469,116.  During the six-month period ended June 30, 2004, 65.4% of
the  Company's  revenues  from  antimony  products  sales were from sales to one
customer (Kohler Co.) and 10.2% were from sales to a second individual customer.
Sales  of  antimony  products  during  the first six months of 2004 consisted of
727,961  pounds  at  an average sale price of $1.50 per pound.  During the first
six  months  of 2003 sales of antimony products consisted of 1,187,077 pounds at
an  average  sale  price  of $1.32 per pound. The decrease in pounds of antimony
sold  is  attributed  to  difficulties  in  procuring  low  priced  raw material
inventory and competition from Chinese suppliers. The increase in sale prices of
antimony  products  from the first six months of 2004 to the first six months of
2003  is  the  result  of  a  corresponding  increase  in antimony metal prices.

Sales  of  zeolite  products  during  the first six months of 2004 were $537,099
compared  to  sales  of  $263,758  during  the comparable period of 2003.  Gross
profit from antimony and zeolite sales during the first six-month period of 2004
was  $175,286  compared  with gross profit of $101,867 during the same six-month
period  of  2003.

During  the  first  six  months  of 2004, the Company incurred expenses totaling
$124,542  associated  with  sales  development  and  general  and administrative
expenses  of  its  wholly  owned  subsidiary,  Bear  River  Zeolite, compared to
$172,439  of expenses during the comparable period of 2003.  The decrease in BRZ
expenses  was  principally  due  to  a  decrease  in  general and administrative
expenses.

Antimony  general and administrative expenses were $152,544 during the first six
months  of  2004, compared to $229,879 during the first six months of 2003.  The
decrease  in  general and administrative expenses during the first six months of
2004  compared  to  the  same  period  of  2003  was  due to a decreased repair,
maintenance  and  legal  expenses.

Antimony  sales  expenses  were  $25,873  during  the  first  six months of 2004
compared  with  $34,966  in  the  first  six  months  of  2003, the decrease was
principally  due  to the allocation of a portion of the Company's sales costs to
BRZ.

Interest  expense  was  $57,785 during the first six months of 2004, compared to
interest  expense  of  $33,027 incurred during the first six months of 2003. The
increase  was  due  to  increased  convertible  debt  in  2004 compared to 2003.

                                  7
<PAGE>

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

Accounts receivable factoring expense was $40,243 during the first six months of
2004  compared  to  $61,224  of  factoring expense incurred during the first six
months  of  2003.  The  decrease was primarily due to decreased finance charges.

Interest  and  other income decreased from $5,649 during the first six months of
2003  to  $2,463 during the first six months of 2004.  The decrease was due to a
corresponding  decrease  in  cash  bonds.

Financial  Condition  and  Liquidity

At June 30, 2004, Company assets totaled $952,494, and there was a stockholders'
deficit  of  $1,368,215.  The  stockholders'  deficit  decreased  $324,122  from
December  31,  2003.  The  decrease is principally due to a decrease in accounts
payable relating to the issuance of common stock in satisfaction of certain
accrued legal fees and other payables during the six-month period ended June 30,
2004. At June 30, 2004, the  Company's  total  current  liabilities exceeded its
total current assets by $1,336,695.  Included in the Company's current
liabilities  are significant delinquent  balances  due raw materials suppliers,
attorneys, and payroll taxing agencies.  The Company has, to date, been able to
sustain its operations through borrowings  from  major  shareholders  and  sales
of  common  stock. 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 2003 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. 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 six months of 2004 was
$265,654,  and  resulted  primarily  from  the  six-month  net loss of $223,238.

Cash  used  in  investing  activities  during  the  first six months of 2004 was
$127,289  and  was almost entirely related to the construction of capital assets
at  the  Bear  River  Zeolite  facility.

Cash  provided  by financing activities was $392,943 during the first six months
of  2004,  and  was principally generated by proceeds from exercise of 1,936,070
warrants  for  $387,214  and  proceeds  from notes payable to banks of $122,121.

ITEM  3.     CONTROLS  AND  PROCEDURES

An  evaluation was performed under the supervision and with the participation of
our  management, including the President, of the effectiveness of the design and
operation  of  our disclosure controls and procedures. Based on that evaluation,
our  management, including the President, concluded that disclosure controls and
procedures  were  effective  as  of June 30, 2004, in ensuring that all material
information required to be filed in this quarterly report has been made known to
them  in  a  timely  fashion.

There has been no change in our internal control over financial reporting during
the  quarter  ended June 30, 2004 that has materially affected, or is reasonably
likely  to  materially  affect,  our  internal control over financial reporting.


                                        8
<PAGE>



                           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 three-month
period  ended June 30, 2004, the Company issued 800,000 shares of its restricted
common  stock  in connection with the exercise of $0.20 stock purchase warrants.
During  the  six-month  period ended June 30, 2004 the Company issued a total of
1,136,071  shares of its restricted common stock in connection with the exercise
of $0.20 stock purchase warrants. In addition, during the six-month period ended
June  30,  2004,  the  Company  issued  631,790  shares  of  its common stock in
connection  with  the  extinguishment  of  certain  accounts  payable  totaling
$150,145;  and  sold  66,667  shares  of  its  common  stock  for  $10,000 cash.


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:  None


     Reports  on  Form  8-K:  None


                                  9
<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: August 16, 2004
             --------------------          ---------------
             John C. Lawrence, Director and President
     (Principal Executive, Financial and Accounting Officer)

                                 10

<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 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 small business
issuer  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-15(e) and 15d-15(e)) for the
small  business  issuer  and  have:

a.     designed  such  disclosure  controls  and  procedures,  or  caused  such
disclosure  controls  and  procedures  to  be designed under our supervision, to
ensure  that  material  information  relating  to  the  small  business  issuer,
including  its  consolidated  subsidiaries, is made known to us by others within
those  entities,  particularly  during  the period in which this report is being
prepared;
b.     evaluated  the  effectiveness  of  the small business issuer's disclosure
controls  and procedures  and presented in this report our conclusions about the
effectiveness  of  the  disclosure controls and procedures, as of the end of the
period  covered  by  this  report  based  on  such  evaluation;  and
c.     Disclosed  in  this  report  any  change  in  the small business issuer's
internal  control  over  financial  reporting  that  occurred  during  the small
business  issuer's  most recent fiscal quarter  that has materially affected, or
is  reasonably likely to materially affect, the small business issuer's internal
control  over  financial  reporting;  and

5.     I  have disclosed, based on my most recent evaluation of internal control
over  financial reporting, to the small business issuer's auditors and the audit
committee  of  the  small  business  issuer's  board  of  directors  (or persons
performing  the  equivalent  functions);

a.     all  significant  deficiencies  and  material weaknesses in the design or
operation  of  internal  control  over  financial reporting which are reasonably
likely  to  adversely  affect  the  small  business  issuer's ability to record,
process,  summarize  and  report  financial  information;  and
b.     any  fraud,  whether  or  not material, that involves management or other
employees  who  have  a significant role in the small business issuer's internal
control  over  financial  reporting.


Date: August 16, 2004
     -----------------


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


                       11
<PAGE>




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  June  30, 2004, 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:

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



                                12