U.S. Forest Service approves the mine plans; gold, silver, and antimony are to be mined.
The U.S. Forest Service has approved Perpetua Resources’ mine plan for the Stibnite Gold Project in Idaho, the company announced Monday. The mine contains an estimated 4.8-million-ounce gold reserve, and Perpetua Resources plans to produce 450,000 ounces annually over the first four years. The Stibnite mine also holds the only identified antimony reserve in the U.S., containing 148 million pounds, or 67,000 tons. The project could meet around 35% of the domestic demand in its first six years of operation, based on 2022 annual consumption data, according to the company.
Antimony is an alloy component used to harden other soft metals such as lead, copper, tin, and zinc. However, it is also used in the production of flame retardants and ammunition. So far, the U.S. has been entirely import-dependent on the metal, with most of the material coming from China in the past, U.S. Geological Survey data shows. However, in 2024, China cut off supplies of antimony, first imposing mandatory export licenses and later entirely banning the export of the metal as well as gallium and germanium to the U.S. Without any other currently operating domestic sources, the Stibnite project could help offset Beijing’s policies. Perpetua Resources added in the statement that the mine is now awaiting a construction decision, and the company is finalizing the remaining federal and state permits as well as securing the necessary financing for the project.
Mining at the Stibnite site dates back to 1899, but historically, it was conducted with little environmental consideration. Perpetua Resources aims to rehabilitate the area as part of its project.
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