Perpetua Resources Seeks Partners for U.S. Antimony Refinery

Perpetua Resources, a U.S.-based metal mining exploration company, is in discussions with several major corporations, including Glencore, to establish an antimony refining facility in the United States. This initiative aims to bolster the supply of antimony in the Western market. The company recently received government approval to commence construction of an antimony mine in Idaho, which is expected to become a significant source of this critical mineral.

Antimony is a key mineral used in the production of various products, including bullets, solar panels, and other industrial applications. Currently, the United States lacks domestic antimony resources, making this project particularly significant. Perpetua Resources' mining site is estimated to contain 148 million pounds of antimony and 6 million ounces of gold. However, the project has faced legal opposition from the Nez Perce Tribe in Idaho, which has expressed concerns about the potential impact on the state's salmon population.

Perpetua Resources plans to extract the mineral but not refine it, prompting the company to seek partnerships to complete this essential step. The company is currently in negotiations with Glencore, Tok, Clarios, and Sunshine Silver to establish a refining collaboration. It is expected to receive proposals in the coming weeks and make a final decision by the end of the year.

The company's largest shareholder is a billionaire, and the project has garnered significant attention due to its potential to enhance domestic mineral processing capabilities. The chief executive officer of Perpetua Resources has expressed enthusiasm about the new opportunities in the U.S. and the company's commitment to making market-based decisions in selecting its partners.

In a related development, United States Antimony, which operates two antimony refining facilities in North America, recently secured a $245 million contract from the U.S. Defense Logistics Agency for the supply of antimony ingots. This contract underscores the growing demand for antimony and the strategic importance of securing domestic supply chains.