Perpetua’s Stibnite Gold Project would be the only domestically mined source of antimony and has one of the largest resources in the world not controlled by China or Russia
Department of Defense provides funding to Perpetua. (Credit: Khusen Rustamov from Pixabay)
We are proud to announce that the Department of Defense, through the Defense Production Act (DPA), has awarded Perpetua an investment of up to $24.8 million to support the development of a domestic source of the critical mineral antimony. Perpetua’s Stibnite Gold Project would be the only domestically mined source of antimony and has one of the largest resources in the world not controlled by China or Russia.
Antimony trisulfide is essential to the manufacturing of small arms, medium caliber cartridges and many other missile and munition items. Antimony also plays a critical role in liquid metal batteries and many other technology and energy applications.
The Department of Defense release states: Perpetua’s Stibnite Gold Project produced antimony trisulfide for the U.S. ammunition industrial base during World War II and the Korean War, and it is the sole domestic geologic reserve of antimony that can meet Department of Defense requirements.
“The Department’s DPA Investments Program is delivering on its core mission to restore domestic industrial capabilities essential to the national defense by enabling the warfighter. This action reinforces the Administration’s goals to increase the resilience of our critical mineral supply chains while deterring adversarial aggression,” said Halimah Najieb-Locke, Deputy Assistant Secretary of Defense for Industrial Base Resilience, in the Department of Defense release.
Source: Company Press Release