Perpetua Resources Announces Key Federal Decision to Authorize the Stibnite Gold Project
Perpetua Resources (Nasdaq: PPTA) announced that the U.S. Forest Service will publish the Final Environmental Impact Statement and a favorable Draft Record of Decision for the Stibnite Gold Project. This decision authorizes the project, which aims to become a world-class gold mine and the only U.S. mined source of antimony, a critical mineral. The project is expected to produce over 450,000 ounces of gold annually in the first four years and has a reserve of 148 million pounds of antimony. The decision comes just before China's antimony export restrictions take effect, highlighting the project's strategic importance for U.S. national security and clean energy applications.
Perpetua Resources (Nasdaq: PPTA) ha annunciato che il Servizio Forestale degli Stati Uniti pubblicherà il Documento Finale di Impatto Ambientale e un Progetto di Registrazione della Decisione favorevole per il Progetto Stibnite Gold. Questa decisione autorizza il progetto, che mira a diventare una miniera d'oro di livello mondiale e l'unica fonte di antimonio estratto negli Stati Uniti, un minerale critico. Si prevede che il progetto produca oltre 450.000 once d'oro all'anno nei primi quattro anni e abbia una riserva di 148 milioni di libbre di antimonio. La decisione arriva poco prima che entrino in vigore le restrizioni all'esportazione di antimonio della Cina, sottolineando l'importanza strategica del progetto per la sicurezza nazionale degli Stati Uniti e le applicazioni per l'energia pulita.
Perpetua Resources (Nasdaq: PPTA) anunció que el Servicio Forestal de los EE. UU. publicará el Informe Final de Impacto Ambiental y un Borrador del Registro de Decisión favorable para el Proyecto de Oro Stibnite. Esta decisión autoriza el proyecto, que tiene como objetivo convertirse en una mina de oro de clase mundial y la única fuente de antimonio extraído en EE. UU., un mineral crítico. Se espera que el proyecto produzca más de 450,000 onzas de oro anualmente en los primeros cuatro años y tiene una reserva de 148 millones de libras de antimonio. La decisión llega justo antes de que entren en vigor las restricciones de exportación de antimonio de China, subrayando la importancia estratégica del proyecto para la seguridad nacional de EE. UU. y las aplicaciones de energía limpia.
Perpetua Resources(나스닥: PPTA)는 미국 산림 서비스가 최종 환경 영향 보고서와 결정 초안 기록을 발표할 것이라고 발표했습니다. 스티브나이트 금 프로젝트를 위해. 이 결정은 세계적 수준의 금광으로 성장하고 미국에서 유일하게 채굴된 안티모니 공급원인 이 프로젝트를 승인합니다. 이 프로젝트는 처음 4년 동안 연간 450,000온스 이상의 금을 생산할 것으로 예상되며, 1억 4800만 파운드의 안티모니 매장량을 보유하고 있습니다. 이 결정은 중국의 안티모니 수출 제한이 발효되기 직전 이루어졌으며, 미국의 국가 안보 및 청정 에너지 응용을 위한 프로젝트의 전략적 중요성을 강조합니다.
Perpetua Resources (Nasdaq: PPTA) a annoncé que le Service forestier des États-Unis publiera la Déclaration d'impact environnemental final et un projet de décision favorable pour le projet d'or Stibnite. Cette décision autorise le projet, qui vise à devenir une mine d'or de classe mondiale et la seule source d'antimoine extrait aux États-Unis, un minéral critique. Le projet devrait produire plus de 450 000 onces d'or par an au cours des quatre premières années et dispose d'une réserve de 148 millions de livres d'antimoine. Cette décision intervient juste avant l'entrée en vigueur des restrictions à l'exportation d'antimoine imposées par la Chine, soulignant l'importance stratégique du projet pour la sécurité nationale des États-Unis et les applications d'énergie propre.
Perpetua Resources (Nasdaq: PPTA) gab bekannt, dass der U.S. Forest Service das Endgültige Umweltverträglichkeitsgutachten und einen positiven Entwurf der Entscheidungsaufzeichnung für das Stibnite-Goldprojekt veröffentlichen wird. Diese Entscheidung autorisiert das Projekt, das darauf abzielt, eine weltklasse Goldmine und die einzige in den USA abgebauten Quelle für Antimon, ein kritisches Mineral, zu werden. Es wird erwartet, dass das Projekt in den ersten vier Jahren über 450.000 Unzen Gold pro Jahr produzieren wird und über eine Reserve von 148 Millionen Pfund Antimon verfügt. Die Entscheidung erfolgt kurz bevor die Antimon-Exportbeschränkungen Chinas in Kraft treten, was die strategische Bedeutung des Projekts für die nationale Sicherheit der USA und Anwendungen für saubere Energie hervorhebt.
- Authorization of the Stibnite Gold Project by the U.S. Forest Service
- Expected production of over 450,000 ounces of gold annually in the first four years
- All-in sustaining costs under $450 per gold ounce based on 2020 Feasibility Study
- Reserve of 148 million pounds of antimony, a critical mineral for national defense and clean energy
- Project designed to provide environmental benefits to an abandoned mine site
- Expected payback period of less than 3 years
- $75 million in awards from the Department of Defense
- $1.8 billion Letter of Interest from U.S. EXIM
- Project still requires Final Record of Decision, expected by the end of 2024
- 45-day objection period and 45-day resolution period before final approval
Insights
The USFS's authorization of the Stibnite Gold Project marks a significant milestone for Perpetua Resources. With
The dual-commodity nature of the project, producing both gold and antimony, provides a unique advantage. The
The Stibnite Gold Project presents an intriguing balance between resource extraction and environmental restoration. The plan to restore native fish passage, improve water quality and increase wetland acreage by
However, it's important to monitor the actual implementation and long-term impacts. The 14-year scientific study and rigorous NEPA process provide a solid foundation, but ongoing oversight will be essential to ensure the promised environmental benefits materialize alongside resource extraction.
The Stibnite Gold Project's antimony production capability has significant national security implications. As China dominates global antimony production and is set to restrict exports, securing a domestic supply becomes important for the U.S. Antimony's importance in defense, clean energy and technology applications makes this project strategically vital.
The whole-of-government approach, evidenced by the
Stibnite Gold Project is poised to become the next world class gold mine and the only
Decision comes days before
The USFS release confirmed that the "Draft Record of Decision outlines the Forest Services' decision to authorize the 2021 Modified Mine Plan". The decision comes after the completion of rigorous interagency permitting review, scientific evaluation, and public input. The Project is designed to provide environmental benefits to an abandoned mine site while producing gold and unlocking the only reserve of antimony within
"We believe that the Stibnite Gold Project is a win-win-win," said Jon Cherry, President and CEO of Perpetua Resources. "It's a win for
Perpetua's Stibnite Gold Project is positioned to be one of the highest-grade open pit gold projects in the United States with 4.8 million ounces of estimated gold reserves. The Project is expected to produce over 450,000 ounces of gold annually over the first four years with all-in sustaining costs under
As a by-product of gold production, the Project has a reserve of 148 million pounds of antimony. Antimony is essential for national defense, clean energy and technology applications, yet no domestically mined supply currently exists. Beginning on September 15, 2024,
"The business case is clear," Cherry continued. "Our project has exceptional economics, with an expected payback period of less than 3 years, while providing net environmental benefits and the critical mineral antimony. We have never been closer to unlocking the value of this unparalleled asset."
The Stibnite Gold Project has undergone a rigorous multi-year, science-based review process that balances environmental outcomes, community and national interest and project economics.
Altogether, the Stibnite Gold Project has undergone:
- 14 years of scientific study, community engagement, and engineering (2010-2024);
- 8 years in the National Environmental Policy Act ("NEPA") permitting process (2016-2024); and
- 150 days of formal public comment in which 28,000 letters were received, with approximately
85% expressing support for the Project.
Following the Draft Record of Decision, there will be a required fixed 45-day objection period and another 45-day resolution period prior to the publication of the final Record of Decision, which is expected at the end of the year based on the USFS's published schedule.
"It is time for the Stibnite Gold Project," said Deb Filler, a resident of
The Stibnite Gold Project is designed to restore a historic mining district abandoned after 100 years of mostly unregulated mining. As part of the proposed mine plan authorized in the draft Record of Decision, Perpetua Resources will:
- Restore native fish passage, opening miles of pristine spawning habitat that has been inaccessible for 80 years;
- Improve water quality by reprocessing and safely storing legacy tailings, reducing arsenic in rivers on site up to
90% ; and - Restore 450 acres of wetlands for a
63% net increase in wetland acres over existing conditions.
There has been a whole-of-government approach to bring antimony production home to
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central
Forward-Looking Information and Cautionary Note
Investors should be aware that the publication by the USFS of the FEIS and the draft ROD, and the publication of the USFS permitting schedule, does not indicate any commitments on the part of the USFS with regard to the content or timing of a final ROD. The draft ROD is subject to a 45-day objection period, followed by a 45-day resolution period, which may be extended by the USFS in its sole discretion. Furthermore, the USFS is not bound by the permitting schedule and anticipated milestones may be delayed materially or not be satisfied.
In addition, investors should be aware that the
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding the content and timing of final Record of Decision and other actions to be taken by the Department of Defense, USFS, the
Cautionary Statement Regarding Reserve and Technical Information:
The reserves, production and cost information in respect of the Stibnite Gold Project in this press release, is based upon information contained in the technical report titled "Stibnite Gold Project, Feasibility Study Technical Report,
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SOURCE Perpetua Resources Corp.
FAQ
What is the Stibnite Gold Project's expected annual gold production?
How much antimony reserves does the Stibnite Gold Project have?
When is the Final Record of Decision for the Stibnite Gold Project expected?