The Bad PlaceUS Top News and Analysis | Miner Perpetua Resources secures $2.9 billion U.S. loan for Idaho gold, antimony project
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Perpetua Resources has secured a $2.9 billion loan from the U.S. Export‑Import Bank – the largest “Make More in America” loan ever issued and the agency’s fourth‑largest on record – to finance its Stibnite Gold project in Idaho, which will also produce antimony, a critical mineral for defense munitions, semiconductor manufacturing and renewable‑energy technologies. The loan aims to reduce U.S. dependence on China, which currently supplies over half of U.S. antimony demand, and the Stibnite site could meet roughly 35 % of domestic needs within six years of production. The financing is part of a broader U.S. strategy that includes the $12 billion Project Vault partnership and equity stakes in other critical‑mineral miners to shore up domestic supply chains. Construction has begun, with the mine slated to be operational by 2029, and Perpetua is coordinating with the Department of Defense and seeking additional commercial partners.
#PerpetuaResources #ExportImportBank #USGeologicalSurvey #WhiteHouse #ProjectVault
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