Perpetua Resources seeks partner for antimony processing in the USA

Perpetua Resources, with well-known investor John Paulson as the major shareholder, has initiated discussions with Glencore, Trafigura, and other companies to establish a partnership for refining antimony in the United States. This initiative follows China's export blockade of a mineral that is of indispensable value in a variety of products, including ammunition and solar panels. Recently, the company received permission from the U.S. government to begin construction of its antimony and gold mine, approximately 138 miles north of Boise in Idaho. The mine will be the largest source of antimony in the U.S., a material that is not currently mined in the country. While Perpetua plans to extract the metal, there is a lack of refining capacity, which intensifies the drive to seek strategic partners. The company has announced that proposals for collaboration will be solicited in the coming weeks, with a decision expected to be made later this year. "We are encouraged by the growing opportunities to expand the domestic mineral processing capacity in America and intend to make well-informed, market-based decisions in selecting a partner," stated Jon Cherry, CEO of Perpetua. Neither Glencore nor the other potential partners such as Sunshine Silver, Clarios, and Trafigura have issued an official statement at this time. Perpetua's mine holds estimated reserves of 148 million pounds of antimony and six million ounces of gold. However, the project faces legal opposition from the Nez Perce Tribe in Idaho, which fears that the project could harm the state's salmon population. In a separate endeavor, United States Antimony, which controls two North American antimony refineries, recently secured a contract worth up to $245 million from the U.S. Defense Logistics Agency for the supply of antimony metal ingots.