world-economy

EXIM Bank Backs Idaho Gold, Antimony Mine With $2.9B Loan

The Export-Import Bank approved its largest loan under the 'Make More in America' initiative to finance Perpetua Resources' Stibnite Gold project in Idaho's Payette National Forest. The $2.9 billion financing represents the agency's fourth-largest loan on record. The mine will produce gold alongside antimony, a critical mineral essential for defense munitions, semiconductor manufacturing, and renewable energy technologies including solar and wind power. The U.S. Geological Survey classifies antimony as critical, yet no domestic mines currently operate. China dominates global antimony production, controlling over half of U.S. supplies. Perpetua estimates the Stibnite site can supply approximately 35 percent of domestic demand within six years of operation. The project advances government efforts to reduce reliance on Chinese mineral supplies amid concerns over potential export restrictions.