- The Export-Import Bank of the United States has approved a 13-year, US$2.9 billion loan for Perpetua Resources (TSX/NASDAQ:PPTA) to advance its Stibnite project in Idaho to production.
- The project hosts the largest known antimony resource in the US and one of the top-10 largest gold deposits in the country.
- Perpetua Resources stock has added 99.78 per cent year-over-year and 260.47 per cent since 2021.
The Export-Import Bank of the United States has approved a 13-year, US$2.9 billion loan for Perpetua Resources (TSX/NASDAQ:PPTA) to advance its Stibnite project in Idaho to production. Interest will be fixed at the applicable long-dated US Treasury bond rate plus 100 basis points, with payments set to begin in 2030.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
Stibnite hosts the United States’ largest known antimony resource, last estimated at 149 million pounds – with the US Geological Survey calculating the average price in 2025 at US$25 per pound – making Perpetua a key partner in the critical mineral’s supply chain spanning the defense, energy and manufacturing sectors.
The project also offers exposure to one of the top-10 largest gold deposits in the country, with the mine expected to yield more than 4 million ounces of gold during its estimated 12 years of production, combining high grades and recovery rates into low operating costs compared to foreign competitors.
The loan, issued under the Make More in America Initiative, plus Perpetua’s cash on hand, will cover all mine construction costs as laid out in the 2025 Technical Report, setting the company up to create an average of 700 jobs per year over the life of the mine.
Perpetua expects to gain access to the funds in the second half of 2026, following the drafting of definitive documentation.
Leadership commentary
“It is time to make more in America and today marks not only a key milestone for Perpetua Resources, but a significant step in mineral security for our country,” Jon Cherry, President and Chief Executive Officer of Perpetua Resources, said in Thursday’s news release. “When the federal government and private industry work together on a shared national priority, big things are made possible. The US$2.9 billion loan positions us to bring the Stibnite gold project to life and signals a new day in American mineral independence and responsible mining. We are immensely proud of our role in strengthening America’s national security, creating hundreds of jobs in rural Idaho, and reducing our dependence on foreign adversaries for a mineral we cannot do without.”
“This investment strengthens America’s economic and national security by advancing a reliable domestic supply of critical minerals essential to our manufacturing and defense industries,” added Mike Crapo, US Senator for Idaho. “The Export-Import Bank’s Make More in America initiative is helping secure the infrastructure needed to reduce our dependence on foreign adversaries, support American workers and reinforce our long-term industrial competitiveness. It is encouraging to see this effort moving forward in Idaho, where it has the potential to create hundreds of high-quality jobs, long-term economic competitiveness and supply chain security.”
About Perpetua Resources
Perpetua Resources is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho.
Perpetua Resources stock (TSX:PPTA) is down by 0.92 per cent on the news trading at C$36.48 as of 10:02 am ET. The stock has added 99.78 per cent year-over-year and 260.47 per cent since 2021.
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