Perpetua Resources Secures $2.9B U.S. Loan for Antimony Mine

The U.S. Export-Import Bank has committed a $2.9 billion loan to Perpetua Resources to develop its Idaho gold and antimony project. This represents a major federal intervention to secure domestic supply of antimony, a critical mineral used in defense and energy storage applications.

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The U.S. government is using federal lending power to lock in a domestic antimony supply chain, a mineral for which China currently dominates global production. This structurally disadvantages Chinese antimony exporters and firms dependent on imported antimony, while benefiting Perpetua and downstream U.S. defense and battery manufacturers. The loan signals durable policy commitment to critical mineral onshoring, likely attracting further investment into domestic mining of strategic materials. Defense and munitions supply chains reliant on antimony-based components gain long-term supply security. Rival critical mineral projects in allied nations may also benefit as the U.S. strategy of diversifying away from Chinese suppliers accelerates.