The United States Stibnite Antimony Mine Commences Construction

According to the Mining.com website, Perpetua Resources has commenced construction of its $1.3 billion Stibnite gold-antimony project. Located in central Idaho, the mine is one of the projects accelerated by the Trump administration to strengthen the U.S. critical mineral supply chain.

This major milestone follows the company's successful raising of $139 million and the U.S. Forest Service's (USFS) approval of all necessary construction permits. The USFS made its decision in January and granted the final federal permits in May.

"Today, we broke ground on the Stibnite Project," said Jon Cherry, the company's CEO, in the announcement. "We are advancing this antimony-gold mine development safely and responsibly."

Cherry stated that after nine years of permitting, the project will deliver critical minerals and remediate a former mining site.

"With our signed project performance bond in place, we are starting initial work today, delivering on our commitment to Idaho and the United States," he said.

The Stibnite project is expected to produce approximately 450,000 ounces of gold annually. The mine has proven and probable antimony reserves of 148 million pounds and gold reserves exceeding 6 million ounces. It is the only known primary antimony deposit in the U.S., with antimony being essential for defense systems, ESS, and semiconductor manufacturing.

Based on 2023 U.S. Geological Survey (USGS) data, the Stibnite project could meet approximately 35% of U.S. antimony demand during its first six years of operation. It is projected to be among the highest-grade open-pit gold mines in the U.S., with an average annual production of 450,000 ounces during the first four years.

Perpetua Resources anticipates creating about 950 direct jobs during construction and 550 jobs during operations.

The company also seeks financial support from the U.S. Export-Import Bank, including $2 billion in debt financing, with a final board decision expected in spring 2026.

Perpetua Resources stated that the final mine plan was redesigned to reduce the project footprint by 13%, improve stream and wetland conditions, and reconnect fish habitat. The company has committed to remediating historical environmental damage from past mining activities in Idaho, located approximately 222 kilometers northeast of Boise.

Despite these measures, Native American tribes continue to oppose the project due to potential risks to salmon populations and downstream ecosystems. The mine was a major source of antimony during World War II.