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Perpetua Resources has applied for US$2 billion in financing from the US Export-Import Bank for its antimony gold mining project.
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Release time：2025-05-27
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It is expected that the Export-Import Bank will conduct its standard due diligence and review the project's eligibility in accordance with its measures.
Perpetua Resources has formally applied to the Export-Import Bank of the United States (EXIM) for up to $2 billion in potential debt financing for the Stibnite gold mine project. This application is a key step in securing project funding, which would increase US antimony production and provide environmental remediation for the historic Stibnite mining district. Following Perpetua's submission, EXIM is expected to conduct standard due diligence and review the project's eligibility under its initiatives. Previously, Perpetua has been working closely with the EXIM underwriting team and has received final federal permits for the project. In April of last year, Perpetua Resources received a non-binding Letter of Intent (LoI) from the Export-Import Bank of the United States (EXIM) for up to $1.8 billion in potential debt financing under EXIM's 'Make More in America' initiative and the China and Transformational Exports Program.
This move aligns with recent executive orders aimed at increasing government financing for mineral production and could help the US compete with China in antimony production. The application amount has increased to $2 billion, reflecting updated work-year estimates based on financial updates and completed groundwork in Q1 2025.
Perpetua Resources President and CEO Jon Cherry stated: "The Stibnite gold mine project is poised to become a national strategic asset for domestic antimony production, as well as a world-class gold asset. "EXIM financing can play a key role in advancing the project toward production so we can rebuild a secure antimony supply for the United States for decades to come." In 2024, China restricted global exports of antimony, a critical mineral for defense, which heightened the need for domestic production. The Stibnite gold mine project aims to rebuild US antimony production. Having secured permits from the Army Corps of Engineers and prior authorizations from the US Forest Service and Idaho state agencies, Perpetua Resources is currently working to secure remaining state permits and the funding needed to begin construction.
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