From Beijing to Boise: How Perpetua Aims to Change the Antimony Game
Perpetua Resources moves closer to securing a $1.8B loan as the U.S. races to break China’s grip on critical minerals.

Perpetua Resources is preparing to submit a formal loan application to the U.S. Export-Import Bank (EXIM) in the second quarter of 2025 for its Stibnite gold and antimony project in Idaho. This marks a significant step in Washington’s push to secure domestic supplies of critical minerals, particularly as geopolitical tensions with China continue to reshape global supply chains.
The company had previously received a non-binding letter of interest from EXIM for a loan of up to $1.8 billion, but this upcoming application will formalize the request. If approved, the investment would rank among the largest mining-related financial commitments ever made by the U.S. government.
Breaking Free from China’s Antimony Grip
Antimony, a crucial metal used in everything from solar panels to flame retardants and military applications, has long been a weak link in the U.S. supply chain. China dominated global production in 2024, controlling 60% of the market, but last December, Beijing banned exports of the metal to the U.S., further exacerbating the supply crunch.
The Stibnite mine could change that equation. Once operational by 2028, it is expected to supply over 35% of America’s annual antimony needs, reducing reliance on foreign sources and strengthening national security.
Washington’s Strategic Bet on Domestic Mining
The U.S. government’s interest in the Stibnite project is part of a broader effort to rebuild domestic mining and mineral processing capacity. With the final mining permit secured during Former President Joe Biden’s administration, Perpetua Resources is now positioned to play a key role in America’s energy and defense sectors.
EXIM’s decision on the loan application will determine how quickly the Stibnite project moves forward. If granted, the funding will provide a major boost not only to Perpetua but to the entire critical minerals sector in the United States.
Conclusion
Perpetua Resources’ Stibnite project stands at the center of a high-stakes geopolitical and economic battle. With China tightening its grip on mineral exports, securing this EXIM loan could be the key to unlocking America’s path to mineral independence. The second quarter of 2025 will be decisive as Perpetua formalizes its request and Washington weighs its next move.
