Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) has secured final federal clearance to move forward with construction of its Stibnite gold-antimony project in Idaho.
The US Forest Service issued a conditional notice to proceed last week, confirming that the company has met all requirements outlined in its January 2025 record of decision.
“After 8 years of extensive permitting review and over $400 million invested, it is finally time for the Stibnite Gold Project to deliver for America,” said Jon Cherry, Perpetua’s president and CEO.
“With the US Forest Service’s Notice to Proceed and the joint financial assurance package approved, we are ready to begin to bring Stibnite back to life as a national strategic asset,” he added.
The project can advance once Perpetua posts the joint financial assurance bonds agreed to with state and federal regulators.Once posted, regulators will sign off on Perpetua’s operating plan, clearing the way for construction to begin.
The Stibnite project carries both strategic and environmental ambitions. It is expected to supply more than 100 million pounds of antimony over its projected 15 year mine life, potentially meeting more than a third of US annual demand.
Antimony, used in munitions and advanced defense systems, is currently imported largely from China.
The project is also designed to produce about 450,000 ounces of gold annually. Proven and probable reserves at the site include 148 million pounds of antimony and more than 6 million ounces of gold.
Beyond mineral production, the project is pitched as an environmental restoration initiative for a heavily impacted historical mine site. Plans call for cleaning up legacy contamination, reconnecting salmon to native spawning grounds, improving water temperatures and enhancing wetlands and stream habitats.
The final mine plan reduces the project footprint by 13 percent compared to earlier designs and frontloads restoration work to occur alongside mining activities.
Perpetua began formal permitting under the National Environmental Policy Act in 2016.
The Forest Service, as lead agency, issued a draft environmental impact statement in 2020, followed by a supplemental draft in 2022 and a final environmental impact statement in 2024.
The final record of decision came in January after a process that drew more than 23,000 supportive public comments.
The Trump administration included the Stibnite project on its FAST-41 permitting transparency list earlier this year, placing it among infrastructure and resource projects deemed nationally significant and eligible for expedited review.
Perpetua’s shares reflected the regulatory breakthrough, climbing 2.2 percent in pre-market trading on Friday (September 19) following the notice to proceed. The company expects bonding to be completed within weeks, paving the way for site work and a targeted commercial production in 2028.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.