Defense Production Act for Critical Minerals

Minerals are the building blocks behind nearly every industry, and it’s crucial we mine domestically for the resources we need, particularly for our defense industry. That’s why the U.S. Department of Defense has awarded Perpetua Resources $24.8 million under Title III of the Defense Production Act and additional $15.5 million through the DOD’s Ordnance Technology Consortium.

Antimony Trisulfide, or “Stibnite”, is essential to hundreds of munition types but the U.S. has no domestically mined source. Funding from the Defense Production Act is intended to help Perpetua complete environmental and engineering studies necessary to obtain a Final Environmental Impact Statement, a Final Record of Decision, and other permits needed to begin the Stibnite Gold Project.

The additional $15.5 million awarded to Perpetua in August will be used to gather additional antimony samples from the project location and advance testing of the product to achieve military specifications.

“Our vision remains unchanged,” said Laurel Sayer, President and CEO of Perpetua Resources. “Which is to redevelop a world class gold deposit, provide the country with the critical mineral antimony, and restore an abandoned brownfield site. Today, we continue to build momentum towards turning our vision into a reality.”