Perpetua Resources' Stibnite Gold Project: A National Security Asset and Investment Catalyst

The U.S. faces a stark reality: its reliance on foreign minerals, particularly antimony, has become a vulnerability in an era of geopolitical tension. Nowhere is this clearer than with antimony, a critical mineral used in defense systems, batteries, and flame retardants. With China—once the world’s largest antimony exporter—halting shipments to the U.S. in 2024, the scramble to secure domestic supply has intensified. Enter Perpetua Resources’ Stibnite Gold Project, a Idaho-based initiative poised to redefine U.S. strategic resilience. Its completion could not only end the nation’s antimony dependency but also deliver outsized returns for investors. Here’s why this project is a must-watch opportunity.

National Security: Antimony is the New Oil

Antimony is indispensable for national defense. From bulletproof vests to missile components, its absence would cripple U.S. military readiness. China’s 2024 export ban exposed this vulnerability, with the country controlling 60% of global antimony production. Perpetua’s Stibnite Project addresses this head-on: it holds 148 million pounds of antimony reserves, the only active U.S. deposit capable of meeting domestic needs. At peak production, Stibnite will supply 35% of U.S. antimony demand, breaking China’s stranglehold.

The project’s strategic importance is underscored by its designation as a FAST-41 Transparency Project under President Trump’s executive orders. This fast-tracked federal permitting, with the final Clean Water Act Section 404 permit secured in Q2 2025. The U.S. Army Corps of Engineers and Forest Service have cleared the way, recognizing Stibnite’s role in securing supply chains for national security.

Antimony Scarcity: A Crisis with a Silver Lining

The antimony shortage is a self-made crisis. U.S. antimony production ceased decades ago, leaving industries reliant on imports. Stibnite’s reserves are now the sole solution. The project’s dual output—450,000 ounces of gold annually alongside antimony—adds financial heft. Gold alone could generate $1 billion+ in annual revenue at current prices, while antimony’s scarcity-driven pricing (up 40% since 2023) amplifies margins.

The project’s environmental vision further de-risks its path. Perpetua’s “Restore the Site” plan includes rehabilitating legacy mine waste and restoring fish passage in the Salmon River. This ESG alignment will quiet critics and secure community buy-in, critical for navigating remaining state permits.

EXIM Financing: The Final Green Light

The single largest hurdle—$2 billion in financing—is now within reach. Perpetua submitted a formal application to the Export-Import Bank of the U.S. (EXIM) in May 2025, up from an initial $1.8 billion non-binding commitment in 2024. EXIM’s “Make More in America” program prioritizes projects that create domestic jobs and reduce foreign dependence. Stibnite qualifies on both counts, with 550+ direct jobs and $1 billion in Idaho economic impact.

EXIM’s support is no minor detail. As a government-backed lender, its stamp of approval signals political backing and reduces project risk. With federal permits finalized, EXIM’s approval—expected by early 2026—will unlock construction and set Stibnite on a path to production by 2027.

Why Act Now?

• Antimony Scarcity Premium: Rising prices and limited supply will supercharge margins.
• Government Backing: FAST-41 and EXIM financing eliminate regulatory and funding uncertainty.
• Gold Hedge: Volatility in markets will drive demand for physical gold, which Stibnite produces in abundance.
• First-Mover Advantage: Stibnite is the only U.S. antimony project at this scale; no competitor is near completion.

Risks, but Minimal

Legal challenges from environmental groups and tribal entities remain. However, the U.S. Forest Service’s robust eight-year environmental review (including 23,000 public comments) has already addressed most concerns. Perpetua’s commitment to remediation—$300 million allocated to site restoration—strengthens its case.

The Bottom Line

Perpetua Resources’ Stibnite Gold Project is a once-in-a-generation opportunity. It solves a national security crisis, taps into a scarcity-driven commodity, and benefits from unprecedented government support. With EXIM financing on the horizon and state permits nearing completion, the project is primed to deliver gold-and-antimony-fueled returns.

For investors seeking exposure to critical minerals and geopolitical risk mitigation, PERP is a buy now. The path to production is clear—act before the market catches up to this critical asset.

Disclosure: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research.