Stibnite gold project in Idaho named a Trump priority

Perpetua Resources  (Nasdaq: PPTA; TSX: PPTA) says its antimony and gold Stibnite project in Idaho has been selected as a Transparency Project in response to President Trump’s recent Executive Order aimed at strengthening American mining production and reducing reliance on foreign critical minerals.

As one of 10 initial U.S. projects selected by the newly formed National Energy Dominance Council for placement on the Federal Permitting Improvement Steering Council dashboard, the Stibnite Gold project will have access to increased inter-agency transparency, coordination, and oversight.

The project, with its U.S. Forest Service approval in January, is positioned to supply the critical mineral antimony, which is essential to national security and energy technology, the company said Tuesday. 

Antimony, a metal used to make solar panels, flame retardants and weapons, is imported into the U.S. as there is currently no domestic production. China accounted for 60% of globally mined antimony in 2024, according to data from the U.S. Geological Survey.

Last year, China banned exports of the metal to the U.S..

Loan application

Perpetua said in March that it plans to submit a formal loan application to the U.S. Export-Import Bank to advance the project after it received a letter of interest, which was non-binding, from EXIM for a loan worth up to $1.8 billion. If the loan is approved, the Stibnite project would be one of Washington’s largest investments ever in a mine. The final mining permit for the project was issued by the Biden administration.

“Being recognized as a Transparency Project by the White House underscores the immense strategic value of the Stibnite Gold project,” Perpetua CEO Jon Cherry said in a news release. “This selection…validates the urgency and importance of our project for America’s economic and national security. We stand ready to restore the site and bolster American mineral independence.”

Perpetua Resources started applying for permits in 2016. The final federal decision, the U.S. Army Corps of Engineers Clean Water Act 404 permit, is on track for a decision in this quarter, Perpetua said.

Shares in Perpetua have increased nearly 19% this month to $18.34 apiece by mid-Wednesday in Toronto, valuing the company at $1.3 billion.