Perpetua commences early construction at Stibnite gold project in Idaho

Core Insights - Perpetua Resources has commenced early works construction at the Stibnite gold project in Idaho after securing $139 million in financial assurance and receiving necessary approvals from the US Forest Service [1][4]. Project Development - The Stibnite gold project has undergone a nine-year permitting process, with the final record of decision received in January 2025, allowing construction to officially start [3][4]. - The project is positioned as a strategic response to China's antimony export bans, aiming to provide critical resources while restoring an abandoned mine site [2][5]. Financial Aspects - Perpetua Resources posted the required financial assurance on October 17, 2025, through cash reserves, with plans for alternative non-cash financial assurance measures as part of the full financing package [4][6]. - The project is seeking $2 billion in debt financing, with final board consideration expected in spring 2026 [6]. Resource Estimates - The Stibnite gold project is estimated to contain 4.8 million ounces of gold reserves and is expected to yield approximately 450,000 ounces of gold annually during its first four years of operation [4][5]. Employment and Environmental Impact - The construction phase is projected to create over 950 direct jobs, with more than 550 direct jobs anticipated during the operational phase [5]. - The project also aims to remediate environmental damage, restore fish habitats, and reconnect native spawning grounds at the historical mine site [5].