Perpetua Resources (TSX: PPTA) will be exploring antimony processing opportunities with Sunshine Silver Mining based in Idaho.
Testing will evaluate the technical potential for processing and refining antimony from the Stibnite gold project in Idaho at the Sunshine mine complex. The Stibnite project is one of the highest-grade, open pit gold deposits in the United States.
The MOU will initiate third-party engineering to evaluate a flowsheet to suit different antimony ore types and follows engagement between the parties’ technical and executive teams.
Jon Cherry, CEO of Perpetua Resources commented, “Perpetua’s MOU with Sunshine Silver is a step in evaluating a fully integrated American antimony supply chain. The Stibnite gold project is the only identified domestic reserve of antimony, and with final federal decisions expected in a matter of weeks, Perpetua is ready to work with U.S. companies to help secure domestic production of antimony.”
Heather White, CEO of Sunshine Silver, stated it is paramount the United States acquire a fully domestic antimony supply chain for U.S. national and economic security.
On Dec. 3, 2024, China, announced an enhanced ban on exports of antimony to the United States. China at present dominates antimony production, refinement, and processing capabilities globally. This move comes after the Chinese communist government announced this past August global export restrictions.
Antimony is essential for national defense, clean energy and technology applications. Antimony is a primer in hundreds of munition types, a doping agent in semiconductors and printed circuit boards, and a central component in solar panels and wind turbines. No domestically mined supply of antimony currently exists.
The Stibnite gold project has a reserve of 148 million lb. of antimony, making it one of the largest reserves of antimony not under Chinese influence. It is also the only U.S. domestic reserve. The Stibnite gold project is expected to supply about 35% of projected U.S. antimony demand in the first six years of operations. This Perpetua production, if added to the 5% that Sunshine has indicated it expects to be able to produce, could provide up to 40% of U.S. antimony demand.
In September 2024, the Stibnite gold project received its final environmental impact statement and draft record of decision. These measures are designed to restore a historic mining district abandoned after 100 years of mostly unregulated mining while producing gold and the only reserve of antimony in the United States.
More information is posted on www.PerpetuaResources.com. Information is also available at www.SunshineSilverMining.com.
