Miner Perpetua Resources secures $2.9 billion U.S. loan for Idaho gold, antimony project
Perpetua Resources has obtained a $2.9 billion loan from the U.S. Export-Import Bank to support its Stibnite Gold project in Idaho. This project aims to produce gold and antimony, a critical mineral essential for defense and technology. The financing is part of a broader U.S. initiative to enhance domestic production of critical minerals and reduce reliance on China.
- ▪The loan is the largest under EXIM's 'Make More in America' initiative.
- ▪The Stibnite site is expected to supply about 35% of U.S. antimony demand within the first six years of production.
- ▪Antimony is deemed a critical mineral by the U.S. Geological Survey, with no current antimony mines operating in the U.S.
Opening excerpt (first ~120 words) tap to expand
Mining company Perpetua Resources has secured a $2.9 billion loan from the U.S. Export-Import Bank, CNBC has learned. The deal comes as the U.S. looks to secure access to critical minerals and break China's stronghold on essential supply chains.The financing, which is the largest loan under EXIM's "Make More in America" initiative and the agency's fourth largest loan on record, will fund Perpetua's Stibnite Gold project in Idaho. The mine will also produce antimony, which is essential for defense applications – including for munitions – as well as semiconductor manufacturing and renewable energies including solar panels and wind turbines, among other things.The U.S. Geological Survey deems antimony a "critical mineral." There are no antimony mines currently in operation in the U.S.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Top.
Discussion
0 commentsMore from CNBC — Top
