Perpetua Resources (TSX: TO)
The Biden administration on Friday issued the final mining permit for Stibnite Idaho antimony and gold project, a move aimed at spurring U.S. production of a critical mineral at the center of a widening trade war between Washington and Beijing.
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Perpetua Receives the Final Permit for Stribnite
Jan 3 (Reuters) – Perpetua Resources’ (TSX: TO) received the final mining permit for the Stibnite Idaho antimony and gold project, a move aimed at spurring U.S. production of a critical mineral at the center of a widening trade war between Washington and Beijing.
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Highlights
- Permit aims to boost U.S. antimony production amid trade tensions with China
- Perpetua’s mine to meet over 35% of U.S. antimony needs by 2028
- Nez Perce tribe consulted, concerns about salmon population remain
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Permitting for the mine, backed by billionaire investor John Paulson, comes after Beijing last month blocked exports to the U.S. of antimony, a metal used to make weapons, solar panels, flame retardants and other goods for which there are no current American sources.
The U.S. Forest Service released the final record of decision for Perpetua’s Stibnite project – essentially the mine’s permit – after an eight-year review process, according to documents published on the agency’s website.
Perpetua’s mine will supply more than 35% of America’s annual antimony needs once it opens by 2028 and produce 450,000 ounces of gold each year.
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