Perpetua Resources Secures $6.9M Defense Funding for Domestic Antimony Supply

Perpetua Resources has secured up to $6.9 million in additional funding from the U.S. Army to advance the Stibnite Gold Project in Idaho, which aims to establish the United States' first domestic antimony supply chain critical for national defense. This funding supplements over $80 million received from the Department of Defense to develop a pilot plant that produces military-grade antimony trisulfide, a key material used in munitions and defense systems, addressing supply chain vulnerabilities caused by China's export ban. The Stibnite project is expected to meet approximately 35% of U.S. antimony demand in its initial years and is seen as a strategic asset for mineral independence and resilience. Perpetua has also applied for up to $2 billion in potential debt financing from the U.S. Export-Import Bank to help fund the construction of the project, which benefits from federal programs designed to expedite critical infrastructure developments. Company leadership emphasizes the project's importance for national security, economic growth, environmental restoration, and reducing reliance on foreign sources. Despite positive market responses and technical momentum, some analysts caution about the company’s current lack of profitability and reliance on external financing.