#United States #Boise #Perpetua Resources #Stibnite Gold #antimony reserve

Perpetua Resources Gains Forest Service Approval for Stibnite Gold Project

In a significant milestone for both economic development and national security, Perpetua Resources Corp. has announced that the U.S. Forest Service (USFS) has granted the Final Record of Decision (ROD) for its Stibnite Gold Project. This crucial permit comes after eight years of extensive review, interagency cooperation, and public consultations. The approval moves Perpetua closer to making a construction decision on a project that aims to revitalize an abandoned mine site in central Idaho.

The Stibnite Gold Project is noteworthy for being the only domestic reserve of antimony, a critical mineral essential to several sectors including national defense, energy, and advanced technology. The U.S. currently relies heavily on imports for antimony, particularly from China, which controls nearly half of the global supply. The project is expected to not only fulfill a significant portion of U.S. antimony demand but also mitigate reliance on foreign sources, enhancing mineral security.

Jon Cherry, President and CEO of Perpetua Resources, expressed enthusiasm over the approval, stating, "This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA." The project is projected to provide over a billion dollars in investments and create approximately 550 jobs for the local community throughout its operation.

The Stibnite Gold Project is not just about gold; it also aims to restore the historical impacts of mining in the region. Perpetua's approved mine plan includes multiple environmental restoration initiatives, such as:

• - Removing legacy tailings and waste to improve water quality
• - Restoring blocked river habitats to benefit local ecosystems and fish populations
• - Enhancing wetland areas that have been adversely affected over decades

With an estimated 4.8 million ounces of gold reserves, the project is anticipated to produce around 450,000 ounces of gold annually during its initial years of operation. The presence of about 148 million pounds of antimony adds an essential layer to the project's benefits, as U.S. consumption of this mineral is rising, particularly for defense applications.

The approval journey included rigorous evaluations, and the Stibnite Gold Project managed to gather substantial public support. During the public comment sessions, more than 23,000 letters backed the initiative. Cascade Mayor Judy Nissula voiced the local community’s support, stating, "These are the type of companies we want in Cascade, and we look forward to Perpetua's next chapter in our community."

Historically, the Stibnite mine site has faced environmental challenges due to past operations. Perpetua is committed to leaving the area in a better condition than it is today, which aligns with its broader Environmental, Social, and Governance (ESG) goals. The project is designed to utilize one of the lowest carbon emissions grids in the country, as part of Perpetua's commitment to sustainable mining. They have also made agreements to supply part of their antimony production to Ambri, a U.S.-based firm specializing in low-cost liquid metal batteries crucial for transitioning to a low-carbon energy system.

As Perpetua Resources moves forward with its plans for the Stibnite Gold Project, the company's efforts symbolize a step towards revitalizing American mining, securing mineral independence, and creating sustainable job opportunities in Idaho. The path ahead will require finalizing remaining federal and state permits, as well as securing project financing, but the approval marks a major leap forward in a journey that began with formal permitting under the National Environmental Policy Act (NEPA) back in 2016. With public support and now the backing of the USFS, Perpetua Resources is on track to transform the Stibnite site into a hub of economic and ecological restoration.

As the project progresses, the eyes will be on both the economic impact on the local community and the environmental restoration promises made to ensure the Stibnite Gold Project becomes a beacon of responsible mining practices in the years to come.