Perpetua Resources seeks $2.7 billion EXIM loan for Idaho gold-antimony project

March 31 (Reuters) - Antimony and gold miner Perpetua Resources PPTA.O said on Tuesday it would notify Congress of a proposed $2.7 billion loan from the U.S. Export-Import Bank to help finance the Stibnite Gold Project in Idaho.

The proposed financing includes a $2.2 billion direct loan for construction, exploration and corporate costs, while the remainder would cover interest and fees.

Combined with $714 million in cash on hand, the loan would cover the estimated $2.576 billion cost to build the Stibnite Gold Project.

Shares of the company were up 6.5% at $47.62.

Perpetua Resources CEO Jon Cherry said today’s decision marks the final stage of EXIM’s approval process and puts the company on track for a Final Investment Decision later this year.

The proposed loan falls under the Export-Import Bank's Make More in America program, which aims to boost domestic production of strategic minerals and support U.S.-based industrial development.

The project has gained importance as the United States seeks a domestic antimony supply after China last year curbed exports of the metal, which is used in ammunition, solar panels and other goods.

Perpetua started early construction work in October 2025 after securing all federal and state permits. The company counts Agnico Eagle Mines AEM.TO and JPMorgan Chase JPM.N among its investors.