Perpetua Resources Applauds Executive Order Boosting Domestic Mineral Production Efforts

Perpetua Resources Supports Executive Order for Domestic Mineral Production

Perpetua Resources Corporation, traded on NASDAQ and TSX under the ticker PPTA, has expressed its enthusiastic support for President Trump's recent Executive Order aimed at bolstering domestic mineral production. The order seeks to diminish the United States' reliance on foreign nations for crucial mineral resources.

This initiative comes at a pivotal time as Perpetua is poised to advance its Stibnite Gold Project—set to be a key player in the U.S. mineral landscape. The project, which already received a favorable Record of Decision from the U.S. Forest Service earlier this year, is expected to produce gold and be the sole domestic source of the vital mineral antimony. Jon Cherry, President and CEO of Perpetua Resources, emphasized the importance of this project, highlighting its potential impact on national security. He remarked, "Today’s Executive Order is a resounding endorsement of American mining, and the Stibnite Gold Project is a prime example of why critical mineral production in America requires immediate attention and prioritization."

The Significance of Antimony in National Defense

Antimony is a mineral of great importance not only for commercial applications like fire retardants and batteries but also for national defense. It is utilized in numerous ammunition types, crucial for the U.S. Department of Defense (DoD). Notably, Perpetua Resources has secured over $70 million in funding from the DoD to progress the Stibnite Gold Project, underscoring the project's strategic importance.

The recent Executive Order will utilize the Defense Production Act, which aims to enhance domestic production capabilities and provide guidance on financing tools for mining projects through the U.S. Export-Import Bank (EXIM). Perpetua Resources has already received a Letter of Interest from EXIM for $1.8 billion, and is currently assessing how the new programs can benefit the Stibnite Gold Project.

Development of a Full-Scale Antimony Processing Facility

As part of its expansion plans, Perpetua is collaborating with Sunshine Silver to explore the development of a large-scale antimony processing facility in Idaho, where historical antimony production took place. This initiative aligns with their goal of establishing a fully integrated domestic supply chain, aimed at reducing dependence on foreign sources.

According to the U.S. Geological Survey, the Stibnite Gold Project could potentially supply up to 35% of the annual U.S. antimony demand within its first six years of production, addressing long-term national defense needs. Currently, the U.S. heavily relies on countries like China and Russia for antimony, with these nations controlling up to 90% of the world’s mined supply.

A Call to Action for Domestic Mining

Jon Cherry urges that the Stibnite Gold Project should be recognized as a national strategic asset, especially in light of recent restrictions on antimony exports from China. He stated, "The Project is poised to become our nation's key to pushing back against China's weaponization of antimony supply chains, providing the United States Department of Defense with a stable, secure supply of American antimony for years to come."

The benefits of the Stibnite Gold Project extend beyond mineral production. It is projected to create hundreds of family-wage jobs, restore natural habitats for local fish populations, and remediate environmental damage at an abandoned mine site.

Environmental Responsibility and ESG Goals

Perpetua Resources is committed to maintaining a modern and sustainable approach to mining, emphasizing environmental stewardship as part of its corporate values. The Stibnite Gold Project will operate on a grid noted for low carbon emissions, contributing to sustainable mining practices.

In summary, Perpetua Resources is positioned at the forefront of U.S. mineral production with its Stibnite Gold Project. As domestic production capabilities are enhanced through supportive policies, the partnership between government and industry could yield significant benefits not only for national security but also for local economies and environmental health.