Name of the Project
Stibnite gold project.

Location
Central Idaho, in the US.

Project Owner/s
Mining exploration and development company Perpetua Resources Corp.

Project Description
The project is expected to be one of the highest-grade openpit gold mines in the US. It is designed to redevelop the abandoned Stibnite mine site for gold, silver and antimony, while providing environmental restoration for the dormant site.

The project contains an estimated 4.8-million-ounce gold reserve and is expected to produce 450 000 oz/y of gold over the first four years of production.

In addition, the estimated 148-million-pound antimony reserve is the only identified antimony reserve in the US, and is expected to supply an estimated 35% of the country’s demand in the first six years of operation. 

Antimony is a listed critical mineral for its role in technology, defence and energy products.

Potential Job Creation
Perpetua expects to create about 950 direct jobs during construction and 550 jobs during operations.

Net Present Value/Internal Rate of Return
The project is expected to provide an estimated 550 jobs for rural Idaho during operations.

Capital Expenditure
$2.58-billion.

Planned Start/End Date
The US Forest Service approved the mine plan in January 2025, in accordance with the country’s National Environmental Policy Act.

Early construction work started at the project in October 2025 after securing all federal and state permits.

Latest Developments
Perpetua Resources will notify Congress of a proposed $2.7-billion loan from the US Export-Import Bank (Exim) to help finance the project. The proposed loan falls under Exim’s Make More in America programme, which aims to boost domestic production of strategic minerals and support US-based industrial development.

The proposed financing includes a $2.2-billion direct loan for construction, exploration and corporate costs, while the remainder will cover interest and fees. Combined with $714-million in cash on hand, the loan will cover the estimated $2.576-billion cost to build the Stibnite gold project.

Perpetua Resources CEO Jon Cherry has said the decision marks the final stage of Exim’s approval process and puts the company on track for a final investment decision later this year.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Perpetua Resources Corp, tel +1 208 901 3060 or email info@perpetuacorp.us.