Miner Perpetua Resources secures $2.9 billion U.S. loan for Idaho gold, antimony project
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- Mining company Perpetua Resources has secured a $2.9 billion loan from the U.S.
- The financing, which is the largest loan under EXIM's "Make More in America" initiative and the agency's fourth largest loan on record, will fund Perpetua's Stibnite Gold project in Idaho.
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Mining company Perpetua Resources has secured a $2.9 billion loan from the U.S. Export-Import Bank, CNBC has learned. The deal comes as the U.S. looks to secure access to critical minerals and break China's stronghold on essential supply chains.
The financing, which is the largest loan under EXIM's "Make More in America" initiative and the agency's fourth largest loan on record, will fund Perpetua's Stibnite Gold project in Idaho. The mine will also produce antimony, which is essential for defense applications – including for munitions – as well as semiconductor manufacturing and renewable energies including solar panels and wind turbines, among other things.