US$2.9B EXIM Loan to Fund US Antimony Reserve, Spurs Domestic Projects
UAMY•On May 21, EXIM approved a US$2.9B, 13-year loan to fund Perpetua Resources' Stibnite Gold-Antimony Project in Idaho, which holds the nation's only domestic antimony reserve. Vancouver-based NevGold Corp. has begun a 20,000m drill program at its Limousine Butte Project in Nevada, targeting oxide antimony-gold resources for near-term production.
1. EXIM Loan Approval
On May 21, the Export-Import Bank unanimously approved a US$2.9B, 13-year senior secured loan to Perpetua Resources' Stibnite Gold-Antimony Project in Idaho, covering direct construction costs for gold extraction and the nation's only domestic antimony reserve.
2. Federal Strategy on Antimony Supply
The financing underscores federal efforts to reduce reliance on foreign-controlled critical mineral chains by supporting multiple domestic producers to address the structural antimony deficit faced by U.S. manufacturers and defense contractors.
3. NevGold's Limousine Butte Advancement
Vancouver-based NevGold Corp. has launched a 20,000-meter drilling campaign at the Limousine Butte Project in Nevada, focusing on oxide antimony-gold mineralization and utilizing existing surface feedstock for a potential rapid path to near-term production.
4. Implications for United States Antimony Corp.
The surge in high-profile financing and development of new antimony sources may intensify competition but also validates market demand, positioning United States Antimony Corp. to capitalize on rising domestic production initiatives and potential future financing opportunities.
