Latest news with #Stibnite
Cision Canada
6 days ago
- Business
- Cision Canada
U.S. Secretary of Labor, Idaho Governor Visit Perpetua Resources to Discuss Stibnite Gold Project Importance to Securing U.S. Jobs and Critical Minerals
Stibnite Gold Project Listed as a White House Transparency Project Perpetua Anticipates 550+ Direct Jobs in Idaho during operations Perpetua Announces Stibnite Launch Scholarship with College of Western Idaho BOISE, Idaho, Aug. 6, 2025 /CNW/ - Today, U.S. Secretary of Labor Lori Chavez-DeRemer and Idaho Governor Brad Little met with Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") in Valley County, Idaho to discuss the Stibnite Gold Project's strategic importance to the United States and Perpetua's plans to provide family-wage, in-demand jobs to rural Idaho during the construction and operations of the Stibnite Gold Project. During the visit, Perpetua Resources announced a new education and job training partnership with the College of Western Idaho (CWI). The Secretary's visit underscores the Trump administration's focus on domestic critical mineral projects that are essential to U.S. national security, like the Stibnite Gold Project. The Stibnite Gold Project is designed to restore the environment, provide family-wage jobs to rural Idaho, and produce gold and the critical mineral antimony. The Stibnite Gold Project, which was identified as a "Transparency Project" by the National Economic Development Council, is expected to provide the United States its only domestically mined source of the critical mineral antimony. Given antimony's essential role in hundreds of defense applications, the Department of Defense has granted Perpetua Resources more than $80 million to date to advance the Stibnite Gold Project. "Perpetua is committed to Idaho," said Jon Cherry, CEO of Perpetua Resources. "We want our project to benefit local communities, and one of the most tangible ways we can do that is by providing meaningful, well-paying careers. For years, we have been laying the foundation – providing internships, working with local schools and investing in career education for local students – and soon we intend to offer quality, family-wage jobs to hundreds of Idaho workers at the Stibnite Gold Project. It was a true honor to host U.S. Secretary of Labor Lori Chavez-DeRemer and Governor Brad Little and tell them about our efforts to bring jobs to rural Idaho." "The Stibnite Gold Project represents exactly the kind of American-led initiative we need to secure our critical mineral supply chains, strengthen national security, and create in-demand, mortgage-paying jobs," said Secretary Chavez-DeRemer. "Under President Trump's leadership, the U.S. Department of Labor is committed to working with employers like Perpetua to ensure they have the skilled workforce they need to ramp up domestic production. I'd like to thank Governor Little and Perpetua Resources for hosting me today and providing an update on this important project, which fulfills our mission to put American workers first." To advance Perpetua's commitment to hiring locally, during the Secretary and Governor's visit, Perpetua Resources announced the creation of the Stibnite Launch Scholarship to support CWI's Geosciences Department, helping prepare students with real-world, hands-on training for rewarding, high-skill jobs in Idaho's mining sector. Perpetua presented CWI with a $250,000 check to fund scholarships for 12 or more CWI Geosciences and Mining Technician students each year for the next three years and at least three students per year thereafter. "Partnerships like this between Idaho businesses and our higher education institutions mean we can keep jobs, economic benefits, and expertise right here in Idaho. I appreciate Perpetua Resources for its commitment to supporting students and families and strengthening rural Idaho," Governor Little said. Designed to complement the Idaho LAUNCH grant program, which provides students a one-time opportunity to have 80 percent of their tuition and fees covered at an eligible institution, the Stibnite Launch Scholarship can fund the remaining 20 percent of a CWI student recipient's tuition and fees, closing the funding gap and providing financial relief to [eligible students. "CWI is proud to be named the official education partner of Perpetua Resources," said CWI President Gordon Jones. "This partnership expands hands-on learning and workforce opportunities for our students, while also supporting the economic vitality of Idaho. By working together, we are preparing Idahoans for essential careers and ensuring our communities thrive for generations to come." Idaho LAUNCH was created by Governor Little in 2023 to help Idaho students receive the training they needed to fill rewarding, well-paying jobs in the state. To date, nearly 11,000 Idaho graduating high school seniors and over 10,000 adults have taken advantage of LAUNCH grants. During their visit, Secretary Chavez-DeRemer and Governor Little held a roundtable discussion with Perpetua Resources, project partners, and local education leaders to learn more about the opportunities mining is creating for Idahoans. Roundtable participants encouraged permitting reform to advance critical mining projects and pointed to LAUNCH as an essential program to advance Idaho's workforce readiness. Since her appointment as U.S. Secretary of Labor, Chavez-DeRemer has prioritized putting American workers first. As part of her "America at Work" listening tour, Secretary Chavez-DeRemer has traveled across the country to meet with American businesses and workers to identify the skills and training programs our country needs to power the economy. Her stop in Valley County, Idaho, demonstrates her ongoing commitment to understanding the labor needs of Idaho's rural workforce and underscores how the Stibnite Gold Project can fuel the region's economic success. About Perpetua Resources and the Stibnite Gold Project Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Stibnite Gold Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Antimony trisulfide from Stibnite is the only known domestic reserves of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types. FORWARD-LOOKING INFORMATION Investors should be aware that the Stibnite Gold Project's designation as a Transparency Project does not imply endorsement of or support for the project by the federal government, or create a presumption that the Project will be approved, favorably reviewed by any agency, or receive federal funding. The designation of a project as a Transparency Project may be reconsidered based on updated information. 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. SOURCE Perpetua Resources Corp.
Cision Canada
14-07-2025
- Business
- Cision Canada
Perpetua Resources Announces Full Exercise of Option and Additional Proceeds of US$49 Million
BOISE, Idaho, July 14, 2025 /CNW/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") announced today that, in connection with the Company's previously announced upsized US$325 million public offering of 24,622,000 common shares at a price to the public of US$13.20 per Common Share (the "Offering") and concurrent $100 million private placement of 7,575,757 Common Shares to Paulson & Co. Inc. (the "Private Placement"), National Bank of Canada Financial Markets and BMO Capital Markets have exercised in full their option (the "Option") to purchase an additional 3,693,300 common shares (the "Common Shares") for aggregate gross proceeds to the Company of approximately US$49 million, which brings the aggregate gross proceeds of the Offering and Private Placement to approximately US$474 million. The Company intends to use the additional proceeds from the exercise of the Option, together with the proceeds of the Offering and the Private Placement, as part of the Company's previously announced comprehensive financing package for the development of the Company's Stibnite Gold Project (the "Project"). No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy Common Shares, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Perpetua Resources and the Stibnite Gold Project Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Stibnite Gold Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Antimony trisulfide from Stibnite is the only known domestic reserves of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS OR INFORMATION 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 the anticipated use of proceeds from the exercise of the Option, the Offering and Private Placement; the occurrence of the expected benefits from the anticipated use of proceeds from the Option, the Offering and Private Placement; the amount of potential debt financing available to the Company; the timing and potential outcome of any other discussions with governmental agencies; the anticipated timing of the issuance of certain state permits or a USFS notice to proceed; our ability to fully fund the construction of the Project and related financial assurance obligations; our ability to successfully implement and fund the Project; and the occurrence of the expected benefits from the Project, including providing a domestic source of antimony, national defense benefits, creation of jobs and environmental benefits. 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". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the Company's proposed financing package will be sufficient to finance permitting, pre-construction and construction of the Project or that the company will be able to secure alternate financing if necessary; that the current exploration, development, environmental and other objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; and that we will be able to discharge our liabilities as they become due and continue as a going concern. Forward-Looking Information 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, among other things, risks related to unforeseen delays in the review and permitting process, including as a result of legal challenges to the ROD or other permits; risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all, as well as those factors discussed in Perpetua Resources' public filings with 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 and liquidity, 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, 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. SOURCE Perpetua Resources Corp.
The Market Online
17-06-2025
- Business
- The Market Online
Perpetua closes upsized $425M financing to advance Stibnite Gold Project
Perpetua Resources (TSX:PPTA) has closed its upsized public offering of 24,622,000 common shares, raising gross proceeds of approximately US$325 million At the same time, the company completed a US$100 million private placement of 7,575,757 common shares to Paulson & Co. Inc., a long-standing strategic investor Perpetua intends to use the proceeds from both the public offering and the private placement to support the development of its flagship Stibnite Gold Project in Idaho Perpetua Resources stock (TSX:PPTA) last traded at C$2.41 Perpetua Resources (TSX:PPTA) has successfully closed its upsized public offering of 24,622,000 common shares, raising gross proceeds of approximately US$325 million at a price of US$13.20 per share. At the same time, the company completed a US$100 million private placement of 7,575,757 common shares to Paulson & Co. Inc., a long-standing strategic investor. The public offering was led by National Bank of Canada Financial Markets and BMO Capital Markets as joint lead bookrunning managers. RBC Capital Markets and Cantor Fitzgerald & Co. served as joint bookrunning managers, with B. Riley Securities, CIBC Capital Markets, H.C. Wainwright & Co., Roth Capital Partners, and Scotiabank acting as co-managers. Perpetua intends to use the proceeds from both the public offering and the private placement to support the development of its flagship Stibnite Gold Project in Idaho. The funds will contribute toward equity requirements for a previously announced application for up to US$2 billion in project financing from the Export-Import Bank of the United States (EXIM), submitted in May 2025. Additional proceeds will be allocated to exploration, working capital, and general corporate purposes. In a media statement, the company noted that EXIM's due diligence process is ongoing, with a potential debt financing close anticipated in 2026. If successful, the combined equity and debt financing, along with a proposed royalty or streaming agreement, is expected to fully fund the estimated US$2.2 billion construction cost of the Stibnite Gold Project. Perpetua is also in advanced negotiations to secure a US$155 million guarantee and indemnification to meet reclamation bonding requirements. In exchange, the company is considering issuing a gold net smelter return (NSR) royalty of up to 3.9% or a gold stream, with potential buyback provisions. This financial assurance is expected to satisfy federal and state permitting conditions and enable construction to begin later in 2025. The underwriters have also been granted a 30-day option to purchase up to an additional 3,693,300 common shares, which could increase the gross proceeds of the offering to approximately US$374 million if fully exercised. Perpetua Resources explores, restores and redevelops gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho. Perpetua Resources stock (TSX:PPTA) last traded at C$2.41 and has risen 14.65 per cent since the year began and has also grown 86.94 per cent since time last year. Join the discussion: Find out what investors are saying about this gold and antimony stock on the Perpetua Resources Corp. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
News.com.au
12-06-2025
- Business
- News.com.au
Resources Top 5: Resolution Minerals stands tall on back of US antimony buy
RML is acquiring a drill-ready antimony, gold and tungsten project in the well-endowed Stibnite Mining District of Idaho ACM is acquiring a pipeline of high-impact gold and copper exploration projects in Peru DTR has received further high-level US government support for development of its Colosseum project Your standout resources stocks for Thursday, June 12, 2025. Resolution Minerals (ASX:RML) Standing tall above the pack of ASX juniors was Resolution Minerals after climbing 78.95% to a new 18-month high of 3.4c on volume of more than 204m. The strong support came after the company announced on Wednesday that it was acquiring a drill-ready antimony, gold and tungsten project in the Stibnite Mining District of Idaho – next to the largest known antimony resource in the USA. The Horse Heaven project shares its eastern boundary with A$2bn market cap Perpetua Resources and its Stibnite gold-antimony project, which hosts a 4.8Moz gold reserve and a 148Mlb antimony reserve. Once reopened, Stibnite will be the only domestically mined source of antimony in the US, supplying around 35% of the country's demand. Horse Heaven has strong gold, antimony and silver mineralisation in two prospects – the Antimony Ridge Fault Zone (ARFZ) and the Golden Gate Fault Zone (GGFZ) – and includes past-producing antimony and tungsten mines. Past rock chip results include up to 5.99g/t gold, 367g/t silver and 19.15% antimony, with past drilling returning up to 1.459g/t gold. Resolution Minerals (ASX:RML) said the brownfields project was a transformational acquisition, with the highly encouraging past results indicating large tonnage mining potential. It is expected to begin drilling the antimony prospects at Horse Heaven in the near-term. Horse Heaven is also eligible for fast-tracking under FAST-41, just like Stibnite which was fast-tracked for approval in April, and on May 19, 2025, obtained final approval to be re-opened. The company said Horse Heaven complemented its recently acquired Australian gold-antimony-copper projects – Drake East antimony-gold project (NSW), Neardie antimony project (Qld) and Spur South gold-copper project (NSW) – to create a portfolio highly leveraged to gold and antimony. 'The acquisition of the Horse Heaven project is a company transforming event for RML,' executive director Aharon Zaetz said. 'As many governments around the world look to onshore their supply of critical minerals, such as antimony, we have secured a commanding ground position with known antimony occurrences and next to what will soon be the largest antimony producer in the USA.' Australian Critical Minerals (ASX:ACM) Becoming the latest seeking to exploit the copper-gold riches of the coastal belt along the Andes in South America is Australian Critical Minerals, which has entered a binding share purchase agreement to acquire Circuit Resources. This transaction, which the company describes as transformational, includes a pipeline of high-impact gold and copper exploration projects in Peru, with silver, base metals and lithium as a secondary focus. Circuit Resources owns or has the option to acquire the concessions associated with the Blanca, Riqueza, Flint, Cerro Rayas, Liro and Kamika projects with the first two, Bianca and Riqueza, representing the primary targets for ACM. Investors share the company's enthusiasm with shares up as much as 27.5% to a daily high of 7.9c before closing at 7.3c. Blanca is a low-sulphidation epithermal quartz vein gold system encompassing the Cruz Vein and is within a copper-gold-silver porphyry-epithermal metallogenic belt that also hosts Alta Copper's Canariaco and Rio Tinto's La Granja porphyry copper deposits. Cruz vein outcrops at surface and was partially explored by Inca Pacific Resources in 1996 and 1997 with further trenching and rock sampling carried out in 2010 and 2018 by St Elias Mining. Drilling and trenching delivered strong gold hits including 1.5m at 52.8g/t gold within a 9.5m intersection at 11.27g/t; and 4m at 3.97g/t gold including 1.75m at 7.5g/t. ACM plans to prioritise exploration of Blanca and will immediately start the approvals process for twinning, infill and extensional drilling. Riqueza is a district-scale, intermediate-sulphidation vein system extending over a 10km strike length and southwest of several deposits including Minera IRL's Corihuarmi gold-silver project, Kuya Silver Corp's Bethania silver project and Lara Exploration's Kenita polymetallic project. It has undergone substantial previous exploration with copper grades from 1% to 8.7% and silver assays to 2238g/t in historical rock chip samples. A review and prioritisation of historical drill targets based on extensive surface sampling, mapping and geophysics is underway with ACM aiming to start drill permitting in the second half of 2025. 'The acquisition of Circuit Resources is a significant opportunity for ACM, delivering a pipeline of high-impact exploration projects across gold, copper, silver, zinc and lithium in Peru,' ACM managing director Dean de Largie said. 'The scale and quality of these assets – spanning over 25,000 hectares – give us immediate drill-ready targets and exceptional scope for new discoveries. 'Projects like Riqueza, with high-grade copper-silver veins over several kilometres and proximity to majors like Anglo American, offer Tier-1 potential. 'Blanca has already demonstrated strong gold mineralisation, while Cerro Rayas and the Salar projects provide exposure to critical metals with potentially strong demand tailwind.' Dateline Resources (ASX:DTR) Dateline Resources has welcomed further high-level US government support for expediting the development of its Colosseum project in California. On Sunday, US Secretary of the Interior Doug Burgum highlighted the national significance of the Trump Administration's reopening of the Colosseum mine during an interview on Fox News. He emphasised that restarting the mine was a pivotal step towards bolstering America's supply of critical minerals and reducing US reliance on overseas sources for REEs. The mine, to be clear, has not yet been reopened and does not yet have a rare earths resource. It contains an offically reported resource of around 1.1Moz of gold. Drilling for rare earths was announced on April 5, with the project thought to "share the same mineralising system as Mountain Pass", the only operating rare earths deposit in the States. In a meeting on Monday at the US Department of the Interior headquarters in Washington, DC, Dateline Resources says its MD and CEO Stephen Baghdadi met with Secretary Burgum to discuss the next steps in developing REE extraction at Colosseum. Baghdadi highlighted the mine's potential to contribute to the US REE supply chain, essential for advanced technologies and national security, sooner than any other known deposit in the US. Secretary Burgum, joined by senior appointees from the Department of the Interior and President Donald Trump's National Energy Dominance Council, reaffirmed his commitment to bolstering US rare earth production, expressing specific enthusiasm for Colosseum, the company said. The hope is more government support and funding could come with that. Investors welcomed the news, with shares reaching 10.2c, a 29.2% increase on the previous close with more than 196m changing hands. Meeka Metals (ASX:MEK) With commissioning of the processing plant underway at the Murchison gold project, Meeka Metals reached a 10-year high of 18.5c, an increase of 15.63% on the previous close, as it transitions to producer status. Dry commissioning (system and equipment testing) has progressed successfully and ore is being fed into the plant while wet commissioning (full operational commissioning) is underway. The first gold pour from gravity gold is planned for June 2025 while first gold sales and cash flow are expected in early July. 'It rounds out a period of consistent delivery against our development timeline and reflects our focused actions to bring the project online,' Meeka's managing director Tim Davidson said. "We are now focused on maximising the expanded open pit mining opportunity following the success we are having with the drill bit. 'Additionally, first ore is expected from our first underground mine at Andy Well in the September 2025 quarter.' The Murchison project hosts a 1.2Moz at 3g/t gold mineral resource on granted Mining Leases. Ausgold (ASX:AUC) New high-grade gold results have extended the Datatine high-grade shoot by 240m down-plunge and reinforced its potential as a high-grade underground prospect within Ausgold's Katanning gold project (KGP) in WA. Results of up to 6.6m at 3.40g/t gold from 362m, including 3.8m at 5.80g/t from 364.85m, also support the outlook for future resource growth at Katanning. RC and diamond drilling also returned 2m at 3.67g/t from 297m along with 11.3m at 0.96g/t, including 4.2m at 1.81g/t from 333.83m, and resulted in AUC shares reaching a new three-year high of 77c, a 6.22% increase on the previous close. The company will now utilise funding of up to $180,000 through the Geological Survey of WA Exploration Incentive Scheme (EIS) for further drilling. This will target sections where high-grade mineralisation is interpreted to have been missed and test for further high-grade mineralisation up to 150m beyond the current down-plunge extent. 'With both Datatine and the Central Zone remaining open down-plunge, we see clear opportunities to increase resources at the KGP,' executive chairman John Dorward said. The company is on track to complete a feasibility study in late June considering the development of a large-scale, long-life open pit gold project.
Yahoo
28-05-2025
- Business
- Yahoo
Perpetua Resources receives additional funding for Stibnite project from US Army Corps
(Reuters) - Mining company Perpetua Resources on Wednesday said it has been awarded up to $6.9 million in additional funding from the U.S. Army Corps of Engineers for its Idaho antimony and gold Stibnite project. The Pentagon-backed mine, which would be the country's first antimony project, has an estimated reserve of 148 million pounds of the metal used in bullets and tanks, as well as in alloys for electric-vehicle batteries. China, responsible for nearly 60% of globally mined antimony in 2024, banned exports of the metal to the United States in December last year, prompting efforts to increase production within the U.S. This supplemental award will allow Perpetua to expand the research and support the U.S. Army's objective of establishing a fully domestic "ground-to-round" antimony trisulfide supply chain. "Advancing America's capabilities to process minerals critical to national defense is essential for our long-term mineral independence and resilience," said CEO Jon Cherry. The company said that with the receipt of this additional funding, its total awards from the Department of Defense exceed $80 million, including the $15.5 million received under an Ordnance Technology Initiative Agreement in August 2023. Last week, the company received the final federal permit, the Clean Water Act Section 404, from the U.S. Army Corps for the project. Sign in to access your portfolio
