Perpetua Resources Corp. has announced that the United States Forest Service (USFS) has completed the Final Environmental Impact Statement (FEIS) and will issue a Draft Record of Decision (DROD) for the Stibnite gold project. Both documents will be published in the US Federal Register on September 6, 2024. The Final Record of Decision (ROD) is expected by the end of the year.
The DROD confirms the USFS’s decision to authorize the 2021 Modified Mine Plan after extensive interagency review, scientific evaluation and public input. The Stibnite gold project aims to rehabilitate an abandoned mine site while producing gold and developing the only antimony reserve in the U.S.
Jon Cherry, President and CEO of Perpetua Resources, emphasized the project’s benefits: “The Stibnite gold project is a win for Idaho, the environment, and national security. It addresses the U.S.’s strategic need for antimony, reduces reliance on Chinese sources, and promises economic growth with job creation in Idaho.”
With 4.8 million ounces of gold reserves, the project is expected to produce over 450,000 ounces of gold annually in the initial years, with all-in sustaining costs under $450 per ounce. Additionally, it holds a reserve of 148 million pounds of antimony, critical for national defense and technology. China is set to restrict antimony exports starting September 15, 2024, highlighting the project’s strategic importance.
The Stibnite gold project includes plans to restore fish passage, improve water quality, and expand wetlands. The project has received strong government support, including $75 million from the Department of Defense and a $1.8 billion Letter of Interest from U.S. EXIM. Perpetua Resources is working with RBC Capital Markets and Endeavour Financial to explore strategic and financing opportunities in light of this support.