Perpetua Resources Secures US$2.9 Billion EXIM Loan for Idaho Antimony Project
PPTA•Perpetua Resources secured an approximately US$2.9 billion senior secured loan from the Export-Import Bank under the “Make More in America” initiative to advance its dual gold-and-antimony Stibnite project in Idaho. This financing signals US government commitment to reshoring antimony supply critical for military ordnance, flame retardants and grid-scale batteries.
1. EXIM Bank Loan Backs Stibnite Development
In May 2026, Perpetua Resources secured an approximately US$2.9 billion senior secured loan from the Export-Import Bank under the “Make More in America” initiative. The funds will finance detailed engineering, environmental reviews and early construction work at the Stibnite gold-and-antimony project in Idaho, de-risking the path to commercial production.
2. Strategic Importance of Antimony
Antimony is classified as a critical mineral by the US due to its essential role in military ordnance, flame retardants, semiconductors and emerging long-duration energy storage. Domestic production has been negligible, leaving the US reliant on imports from geopolitical rivals and prompting government support to rebuild a secure supply chain.
3. Project Timeline and Next Steps
Perpetua plans to use the EXIM financing to advance permitting and complete a final investment decision by late 2026. The company targets multi-year development milestones, with construction ramp-up and initial antimony-gold output expected to follow as the US accelerates its critical minerals agenda.
