Stibnite Gold Project: A $2B Mineral Security Play with Imminent Catalysts

The U.S. faces a strategic minerals crisis as China tightens its grip on global supply chains. Nowhere is this more urgent than in antimony—a critical mineral used in defense systems, renewable energy storage, and industrial applications. With China’s 2024 export ban exposing vulnerabilities, Perpetua Resources’ Stibnite Gold Project emerges as a game-changer. Recently securing its final federal permit, the project is now primed to become the U.S.’s sole domestic antimony producer, backed by a landmark $2 billion EXIM financing application. This is a rare opportunity to invest in a high-margin, shovel-ready asset with de-risking catalysts on the horizon.

The Federal Permit Milestone: A Green Light for Construction

On May 20, 2025, Perpetua crossed the finish line of an eight-year federal permitting odyssey, securing the final Clean Water Act Section 404 permit from the Army Corps of Engineers. This milestone marks the culmination of a process accelerated by the FAST-41 program, which President Trump’s administration prioritized to fast-track critical infrastructure. The project’s designation as a “Transparency Project” under FAST-41 ensured real-time tracking of its progress on the Federal Permitting Dashboard, a first for a U.S. mining initiative. With federal hurdles cleared, Perpetua now focuses on state permits and financing—a far simpler path given the project’s alignment with Idaho’s economic and environmental priorities.

Antimony: The Mineral Making Stibnite Strategic Gold

Antimony’s strategic value cannot be overstated. China produces nearly 60% of global supply, and its 2024 export restrictions to the U.S. have created a supply vacuum. Stibnite’s 148 million pounds of antimony reserves—the only domestic source—are poised to meet 35% of U.S. demand during the first six years of production. This alone justifies the project’s $2 billion price tag: antimony’s industrial applications in lead-acid batteries, flame retardants, and military tech make it indispensable for energy security.

The EXIM Financing Catalyst: Unlocking a High-Margin Mine

Perpetua’s recent EXIM Bank financing application for up to $2 billion—up from an initial $1.8 billion non-binding LOI—could be the final piece of the puzzle. If approved, this debt facility would cover ~80% of the project’s development costs, significantly de-risking construction timelines. The U.S. government has already signaled support via $59.2 million in Defense Production Act funding to advance permitting and engineering. With federal and state agencies incentivized to fast-track projects tied to critical minerals, the financing’s approval is a near-term catalyst that could trigger a rerating of Perpetua’s valuation.

ESG Alignment: Restoring Land and Communities

Critics of mining projects often cite environmental and social risks, but Stibnite flips the script. The project’s design includes: - Remediation of legacy tailings from the abandoned Stibnite Mining District, addressing decades of contamination.- Restoration of 15 miles of salmon habitat in the Salmon River, a priority for local ecosystems.- Creation of 550+ jobs in rural Idaho, revitalizing a struggling economy.Over 23,000 public comments supported the project during its NEPA review, underscoring community buy-in. This ESG profile positions Stibnite as a “license to operate” benchmark for U.S. mining, attracting ESG-conscious investors.

Why Act Now? Near-Term Catalysts and De-Risking

• Q3 2025: EXIM Bank’s financing decision—expected imminently—could unlock construction capital.
• Q4 2025: Final state permits (Idaho’s water quality and reclamation approvals) are on track, with no major opposition.
• H1 2026: Construction start, with first gold production by 2028 and antimony output by 2029.

With federal permitting complete and financing in sight, Stibnite is transitioning from a “what-if” to a “when” investment. The project’s 4.8 million ounces of gold reserves and 148 million pounds of antimony ensure high margins, while its ESG and national security credentials attract both miners and ESG-focused funds.

Conclusion: A Strategic Bet on U.S. Mineral Sovereignty

Stibnite isn’t just a mining project—it’s a geopolitical and economic imperative. With China’s stranglehold on critical minerals, the U.S. needs domestic supply chains to remain a global superpower. Perpetua’s Stibnite Gold Project checks every box: it’s fully permitted, finanaced, and aligned with U.S. priorities. Investors who act now will secure exposure to a high-margin operation with imminent construction catalysts and de-risked execution. This is a rare chance to profit from a “build back better” initiative that’s already won the hardest battle: federal approval.

The clock is ticking—EXIM’s decision and state permits could trigger a valuation surge. Don’t miss the Stibnite wave.