Perpetua secures $6.9m defence funding to advance domestic antimony supply
The funds will be used to test the feasibility of using material from Perpetua's Stibnite Gold Project to produce military-specification antimony trisulfide.
This funding is a continuation of the $15.5m awarded in August 2023 under an Ordnance Technology Initiative Agreement (OTIA).
The supplemental award will expand the research already under way and support the US Army's goal of establishing a fully domestic "ground-to-round" antimony trisulfide supply chain.
The OTIA aims to fund the development and delivery of a flexible, modular pilot plant to the US Army to process antimony and other materials of interest to the Department of Defense (DOD).
Under the OTIA, Perpetua will be reimbursed on a cost-plus fixed fee basis through the end of 2026. The total funding of up to $22.4m under the OTIA may be adjusted by the DOTC as the programme progresses.
Perpetua is entitled to be reimbursed for all costs incurred under the agreement.
With this additional funding, Perpetua Resources will expand material sampling and enhance the pilot plant's scope and size.
Perpetua Resources president and CEO Jon Cherry said: 'We are honoured to continue our work with the US Army to secure a domestic source of antimony trisulfide.
'Advancing America's capabilities to process minerals critical to national defence is essential for our long-term mineral independence and resilience. We are proud to play our part in furthering the Army's 'ground-to-round' critical minerals strategy.'
This award is part of a broader partnership with the DOD to secure domestic sources of critical minerals. Perpetua has now received more than $80m in total from the Department of Defense.
The Stibnite Gold Project is expected to supply up to 35% of US antimony demand in its first six years, based on the 2023 US Geological Survey antimony commodity summary.
This funding comes at a critical time, as China, which dominates the global antimony market, ceased exports to the US in 2024.
The project will not only support national security but also generate jobs, improve water quality and address environmental issues at an abandoned mine site, according to the company.
Recently, Perpetua applied to the Export-Import Bank of the United States (EXIM) for up to $2bn in potential debt financing for the construction of the Stibnite Gold Project.
EXIM's due diligence and review will follow to determine the project's eligibility under its initiatives.
"Perpetua secures $6.9m defence funding to advance domestic antimony supply" was originally created and published by Mining Technology, a GlobalData owned brand.
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Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding expected benefits from the Project, including providing a domestic source of antimony, local employment opportunities, national defense benefits and environmental benefits; expected benefits from the Stibnite Launch Program and other educational and training initiatives; and the number and nature of jobs expected to be created. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect", "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information in this news release are based on certain material assumptions and involve, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, including Perpetua's Annual Report on Form 10-K filed with the SEC on March 19, 2025 and subsequent filings on Form 10-Q and Form 8-K, which are available at and with the Canadian securities regulators, which are available at Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. View original content to download multimedia: SOURCE Perpetua Resources Corp. View original content to download multimedia:
