Perpetua Resources Secures $2.9bn EXIM Loan for Idaho Mine, 700 Jobs
Perpetua Resources secured a $2.9 billion senior secured long-term loan from the US Export-Import Bank to fund construction of its Stibnite Gold Project in Idaho, including a $2.4 billion upfront facility and interest fixed at the US Treasury rate plus 100 basis points, with repayments starting in 2030. The project, targeting gold production and the only identified domestic antimony reserve, is set to generate over 700 direct jobs annually and follows a prior $255 million equity raise from Agnico Eagle Mines and JPMorganChase.
1. EXIM Loan Approval
Perpetua Resources has secured a $2.9 billion senior secured long-term loan from the US Export-Import Bank to finance the Stibnite Gold Project in Idaho, comprising a $2.4 billion upfront facility and interest fixed at the long-term US Treasury rate plus 100 basis points, with repayment scheduled to begin in 2030.
2. Project Funding and Timeline
The loan, alongside Perpetua's existing cash reserves, will cover construction costs for the abandoned Stibnite Mining District redevelopment, and is expected to be disbursed in the second half of 2026 following final documentation and customary closing conditions.
3. Mine Development and Antimony
The Stibnite project targets both gold production and the only identified domestic reserve of antimony, a critical mineral for defense and industrial applications, and is projected to generate over 700 direct jobs annually, supporting local tax revenues and manufacturing.
4. Equity Investment and Market Reaction
Prior to the loan approval, Perpetua secured $255 million in equity investments from Agnico Eagle Mines and JPMorganChase, and its shares jumped as much as 25% in aftermarket trading, extending the stock's year-to-date gain to 37%.