Idaho
US approves Idaho antimony mine a month after China blocked exports of mineral
The US Forest Service released the final record of decision for Perpetua’s Stibnite project – essentially the mine’s permit – after an eight-year review process, according to documents published on the agency’s website.
Perpetua’s mine will supply more than 35 per cent of America’s annual antimony needs once it opens by 2028 and produce 12,800kg (450,000 ounces) of gold each year, a dual revenue stream expected to keep the project financially afloat regardless of any steps Beijing may take to sway markets.
For example, Jervois Global, the owner of an Idaho mine that produces only cobalt, declared bankruptcy on Thursday after Chinese miners aggressively boosted production of that metal in a bid for market share.
Shares in Idaho-based Perpetua gained 9.1 per cent in after-hours trading after Reuters reported the permit decision earlier on Friday.