Perpetua Resources Gains $2.9 Billion Loan for Idaho Mine

Perpetua Resources in Idaho, USA, received a $2.9 billion loan from the U.S. Export-Import Bank.

The funding will support the Stibnite Gold project, a mine intended to produce both gold and antimony. Antimony is considered a critical mineral for defense, semiconductors, and renewable energy technologies.

Currently, the U.S. relies on China for over half of its antimony supply, and has no active antimony mines. Perpetua Resources claims the Stibnite site is the only domestic source capable of meeting U.S. weapons production needs, potentially supplying roughly 35% of demand within six years. This loan represents the largest under EXIM’s “Make More in America” initiative and follows other government investments in critical mineral production.

The company anticipates the mine will be operational in 2029, but securing additional commercial partnerships remains a necessary step. The U.S. government previously dominated rare earths production before market conditions shifted, a history that informs current efforts to build domestic supply chains.