According to Mining.com, Perpetua Resources announced on the 21st that the Export-Import Bank of the United States (EXIM), under the Make More in America (MMIA) initiative, agreed to provide the company with a $2.9 billion loan to develop the Stibnite project in Idaho.
The company stated that EXIM's decision to approve the loan marked another step forward in advancing more competitive US production and manufacturing under MMIA.
The Stibnite project contains substantial gold resources and is the only known antimony deposit in the US. It is also a project that the Trump administration has been fast-tracking, helping the US Army achieve its goal of a fully domestic antimony supply chain.
"Now is the time to Make More in America, and this is not only an important milestone for Perpetua, but also a significant step for our nation's mineral security," said Perpetua CEO Jon Cherry in a press release. "When the federal government and private enterprises can jointly prioritize national interests, great things can be accomplished."
EXIM's financing facility, combined with the cash on hand at Perpetua, is fully sufficient to support the company's construction of the Stibnite project based on estimated investment costs.
"By advancing the development of domestic supply chains for critical minerals vital to our nation's manufacturing and national defense industries, this investment strengthens US economic and national security," added Idaho Senator Mike Crapo.
To date, the project has undergone rigorous scientific and public review, been designated as a transparency project under the FAST-41 program, and received strong support and cooperation from the US Army. In October 2025, the project attracted significant investments from JPMorgan Chase and Agnico Eagle Mines.
