Perpetua Resources Celebrates Stibnite Gold Project Advancing to Development with State and Federal Officials

Core Insights - The Stibnite Gold Project has received a conditional Notice to Proceed from the U.S. Forest Service, allowing development to commence upon financial assurance posting, marking a significant milestone after over 8 years of permitting review [1][2][16] - The project is expected to produce the only mined reserve of antimony in the U.S., which is critical for military applications, and aims to supply up to 35% of U.S. antimony demand during its first six years of operation [4][5] - The project is positioned to create significant economic benefits, including over 950 jobs during construction and more than 550 jobs during operations, while also addressing environmental contamination from previous mining activities [7][8] Company Overview - Perpetua Resources Corp. focuses on the exploration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of Idaho, with the Stibnite Gold Project being one of the highest-grade open-pit gold deposits in the U.S. [9] - The project is backed by $80 million in Department of Defense funding and is aligned with the U.S. Army's 'Ground-to-Round' strategy to establish a domestic supply chain for critical minerals [1][3] Industry Context - Antimony is classified as a critical mineral essential for technology, defense, and energy applications, with China currently dominating global supply, accounting for about 80% of U.S. imports [5] - The Stibnite Gold Project aims to reduce U.S. reliance on foreign sources for antimony, especially following China's export restrictions in 2024 [5][6] - The project is expected to produce approximately 450,000 ounces of gold annually over its first four years, providing financial support for antimony production [5]