Perpetua Resources secures largest-ever U.S. Export-Import Bank loan to boost domestic antimony and gold production amid supply chain concerns.
Perpetua Resources has secured a $2.9 billion loan from the U.S. Export-Import Bank to develop its Stibnite Gold project in Idaho. The funding marks the largest loan under the agency’s “Make More in America” initiative and its fourth-largest loan ever, aimed at reducing reliance on foreign critical minerals.
The project will produce antimony, a mineral deemed critical by the U.S. Geological Survey, with no active domestic mines currently in operation. China dominates global antimony supply, meeting over half of U.S. demand. The Idaho mine is expected to supply 35% of U.S. antimony needs within six years, supporting defense, semiconductor, and renewable energy sectors.
Perpetua shares surged more than 12% following the announcement. The deal aligns with broader U.S. efforts to secure critical mineral supply chains, including recent initiatives like “Project Vault” to counter China’s resource leverage.