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Perpetua Resources said on Monday its Idaho unit has signed a non-binding agreement with private firm Sunshine Silver Mining & Refining to explore the processing of antimony, amid a brewing trade war between the US and China over critical minerals.Under the agreement, the companies will assess the technical potential for processing and refining antimony from Perpetua’s Pentagon-backed Stibnite antimony and gold project at the Sunshine Mine Complex in Idaho.
“Stibnite Gold Project is the only identified domestic reserve of antimony, and with final federal decisions expected in a matter of weeks, Perpetua is ready to work with U.S. companies to help secure domestic production of antimony,” Perpetua CEO Jon Cherry said.The company expects to receive the permit for the Stibnite project, also backed by hedge fund manager John Paulson, by year-end.
The Toliara project, with an estimated capital expenditure of $591 million, ranks among the largest recent foreign investments in Madagascar.Dealmaker sues Randgold for up to $18 million over Barrick merger work
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