The brief

Analyst view

• Stibnite holds 148 million lb of antimony, expected to meet about 35% of US demand in its first six years.
• US EXIM approved a $2.9B loan in May 2026; closing and a final build decision are expected in Q4 2026.
• Over $87M of US defence awards since 2022, including an antimony trisulfide pilot plant at Idaho National Laboratory.

Technical approach

As reported

By-product

Gold carries the antimony

4.8 million oz of gold reserves fund the mine. Antimony comes out as a by-product, which makes a US source viable at all.

Site

Restoring an old mine

Stibnite supplied about 90% of US antimony during World War II. The plan reworks the disturbed site and cleans up legacy waste as it mines.

Defence

Military-grade antimony

With the US Army, Perpetua is proving it can turn Stibnite antimony into antimony trisulfide, a material used in ammunition primers.