Mentioned:
North America is in urgent need of domestic supply of antimony. And now, there’s a new project that’s finally been approved to make it happen.
What’s happening:
- Perpetua Resources (NASDAQ: PPTA) has announced they have received final approval from the United States Forest Service to advance their Stibnite Gold Project located in Idaho
By the numbers:
- The new approval will allow Perpetua Resources to begin producing antimony in Idaho, which is anticipated to be able to provide roughly 35% of the necessary supply of antimony in the United States of America
- The Stibnite Gold Project also has an existing deposit of 4.8M ounces of gold and is expected to start producing 450,000 ounces of gold annually
Why it matters:
- Antimony has become of critical importance in North America after China made waves by cutting off all further exports of antimony, which is an essential input for military manufacturing
- Perpetua Resources has now become the only publicly traded company in North America with an official approval to develop a domestic antimony resource at scale
Going deeper:
- The final approval for Perpetua Resources comes after nearly a decade long review process with the United States government and Idaho regulators over the environmental impact of project
