Perpetua awarded up to $24.8m under US Defense Production Act; stock jumps mining miningnews
Perpetua Resources announced on Monday that its Idaho-based subsidiary has received a technology investment of up to $24.8 million under Title III of the Defense Production Act .
According to the United States Geological Survey, the Stibnite project contains one of the largest economic reserves of antimony and could supply approximately 35% of US demand in the first six years of production.
The DPA funding does not interrupt the ongoing National Environmental Policy Act review process. The DPA award is separate from the previously announced Small Business Innovation Research Phase 1 funding awarded to Perpetua by the Defense Logistics Agency inIn October, the USFS released the Supplemental Draft Environmental Impact Statement for the project, which provided clarity for the remainder of the NEPA process.
“Our vision remains unchanged, which is to redevelop a world-class gold deposit, provide the country with a critical mineral and restore an abandoned brownfield site. Today, we continue to build momentum towards turning our vision into a reality.”
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