Mentioned:
The United States Army needs more domestic sources of antimony supply. And they’re injecting more cash into a publicly traded mining company to get it.
What’s happening:
- Perpetua Resources (NASDAQ: PPTA) has officially been awarded $6.9M USD in new funding from the United States Army through the Defense Ordnance Technology Consortium
Why it matters:
- Perpetua Resources flagship property the Stibnite Gold Project in Idaho is the only identified antimony resources in the United States of America and represents one of the largest antimony deposits globally that is outside of the control of China
Going deeper:
- The new funding from the United States Army will specifically go towards testing that materials from the Stibnite Gold Project in Idaho can be used to produce military grade antimony trisulfide, which is a highly critical input for hundreds of different types of ammunition
- Perpetua Resources and the United States Army are also collaborating on building a modular processing plant that can convert raw ore into purified antimony metal that can be used by the military
The intrigue:
- China’s export restrictions around both antimony and rare earth elements has continued to send waves through American politics, with the White House just recently beginning a formal study into the risks associated with relying on foreign countries for the supply of critical minerals that are essential for national security and defense
