US$2.9 B EXIM Loan Fully Funds Perpetua’s Idaho Gold-Antimony Project
PPTA•On May 21 the Export-Import Bank approved a US$2.9 billion, 13-year loan to fully fund construction of Perpetua Resources’ Stibnite Gold-Antimony Project in Idaho, which holds the only reported domestic antimony reserve. The financing underscores federal efforts to secure domestic critical minerals for defense and manufacturing as geopolitical tensions rise.
1. EXIM Loan Approval
On May 21 the Export-Import Bank’s board unanimously approved a US$2.9 billion senior secured loan under its Make More in America initiative. The 13-year facility is earmarked to fully fund direct construction of Perpetua Resources’ Stibnite Gold-Antimony Project in Idaho.
2. Project Funding and Production
The Stibnite facility is designed to produce gold and extract the nation’s only reported domestic antimony reserve, a metal critical for defense primers and flame retardants. Combined with existing cash, the financing completes the capital package needed to begin construction.
3. Strategic Supply Chain Impact
The loan underscores a federal push to rebuild domestic critical mineral supply chains and reduce reliance on foreign sources. Industry observers note that multiple domestic projects will be required to close the antimony supply deficit facing U.S. manufacturers and defense contractors.
