Perpetua Resources has announced that the United States Forest Service (USFS) has issued the Final ROD authorising the mine plan for the Stibnite Gold Project in Idaho.
This approval marks a significant permitting milestone after eight years of comprehensive investigation, interagency analysis, consultation and public feedback regarding the proposed mine operations.
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Perpetua Resources president and CEO Jon Cherry said: “We are thrilled to receive our Final Record of Decision from the Forest Service.
“This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA [National Environmental Policy Act]. The Stibnite Gold Project can deliver decisive wins for our communities, the environment, the economy and our national security.”
With the receipt of the Final ROD, Perpetua Resources is now focused on advancing the Stibnite Gold Project towards a construction decision.
This includes finalising the remaining federal and state permits and securing project financing.
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By GlobalDataPerpetua Resources vice-president Alan Haslam said: “After years of work to make the Stibnite Gold Project the strongest it can be, we are incredibly proud to have reached this milestone.
“Obtaining the Forest Service’s approval for our plan has taken the combined efforts and talents of so many people, and we are humbled to watch it graduate to the next phase of development.”
The Stibnite Gold Project aims to redevelop the abandoned Stibnite mine site in central Idaho for gold, silver and antimony, while also providing environmental restoration of the dormant site.
The project is positioned to deliver substantial environmental and economic benefits to the region, while also enhancing national security.
Locally, the Stibnite Gold Project is expected to generate more than $1bn in investment and provide an average of 550 jobs to rural Idaho during its operational phase.
Anticipated to be one of the highest-grade open-pit gold mines in the country, the project contains an estimated 4.8 million ounces of gold reserve and is projected to produce 450,000oz of gold annually over the first four years of production.
Additionally, the project features an estimated 148 million pounds of antimony reserve, the only identified antimony reserve in the US.
It is expected to supply approximately 35% of US demand in the first six years of operations, based on the 2022 US annual consumption as outlined in the 2023 US Geological Survey antimony commodity summary.
In late 2024, China, which accounts for nearly half of all mined antimony output globally, curtailed antimony exports, including to the US.
By securing a domestic mined antimony supply, the US aims to reduce its reliance on foreign antimony producers and strengthen its strategic mineral security.
