Perpetua Resources Launched Early Works on Stibnite Gold Project
Mining News | 2025-10-24 04:57:34
Perpetua Resources received the Final Record of Decision (ROD) in January.
By Paul Ploumis
SEATTLE (Scrap Monster): Boise, Idaho-headquartered Perpetua Resources Corp. has officially broken ground on early works construction for the $1.3 billion Stibnite Gold Project in central Idaho as of October 21, 2025.
The project received the Final Record of Decision (ROD) in January, followed by a conditional Notice to Proceed from the U.S. Forest Service (USFS) in September, confirming that all necessary requirements for construction had been met. To support the development phase, Perpetua posted $139 million in construction-phase financial assurance, with plans to replace the current arrangements with non-cash financial assurances before completing the full financing package.
ALSO READ: Idaho Conservation Groups File Lawsuit Challenging Approval of Stibnite Gold Project
After nearly nine years of rigorous permitting approvals, accelerated in part by fast-tracking under the Trump administration to strengthen the U.S. critical minerals supply chain, the Stibnite Gold Project has officially entered the development stage. The project is designed to deliver critical minerals while restoring an abandoned mine site.
The Stibnite Gold Project is expected to produce approximately 450,000 ounces of gold annually and contains proven and probable reserves of 148 million pounds of antimony and over 6 million ounces of gold, marking it as a significant contributor to U.S. mineral resources and economic growth.
Key Highlights:
Early works construction officially commenced on October 21, 2025
$139 million in construction-phase financial assurance posted
Project fast-tracked to strengthen the U.S. critical minerals supply chain
Expected annual gold production: 450,000 ounces
Reserves include 148 million pounds of antimony and 6 million ounces of gold
Project aims to restore an abandoned mine site
Perpetua Resources’ milestone signals a major step forward for U.S. critical minerals development and underscores the strategic importance of domestic gold and antimony production.
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Frequently Asked Questions
- What is the latest development on the Stibnite Gold Project?
Perpetua Resources Corp. has officially broken ground on early works construction for the $1.3 billion Stibnite Gold Project in central Idaho. Construction began on October 21, 2025.
- What approvals and permits has the project received?
Final Record of Decision (ROD): Received in January 2025.
Conditional Notice to Proceed: Issued by the U.S. Forest Service (USFS) in September 2025, confirming all construction requirements were met.
- How is Perpetua Resources supporting construction financially?
Posted $139 million in construction-phase financial assurance.
Plans to replace these with non-cash financial assurances before completing the full financing package.
