Perpetua Begins Stibnite Gold Project Construction Securing Domestic Antimony Source

Perpetua Resources has initiated early works construction on the Stibnite Gold Project in central Idaho, marking a significant development in U.S. mining and critical mineral independence efforts. The project, which has undergone nearly a decade of permitting, aims to extract gold, silver, and crucially, antimony—the only known domestic reserve of this critical mineral essential for flame retardants, batteries, and military applications. This milestone follows the posting of $139 million in financial assurance and approval from the U.S. Forest Service, allowing the project to proceed under the 2025 Record of Decision. The initiative aligns with broader national security interests and federal strategies to reduce reliance on foreign sources, particularly in light of China's restrictions on antimony exports. Additionally, the project integrates environmental restoration efforts to remediate decades of damage from previous mining activities, exemplifying modern ESG principles in mining. Despite the positive outlook, analysts note the company's financial fundamentals remain challenging, with no current revenue and dependence on financing, suggesting cautious investor consideration.