On January 3, 2025, the Biden administration issued the final permit for Perpetua Resources’ Stibnite Antimony-Gold project in Idaho, according to a report by Reuters.
The move comes just weeks after China announced export restrictions on antimony (as well as gallium and germanium) to the US for military purposes. Shortly after, prices spiked sharply.
Perpetua’s Idaho mine is expected to meet a third, or 35%, of US antimony needs by 2028.
In the US, the main primary consumption of antimony in 2023, were:
- 43%, metal products, including antimonial lead and ammunition
- 35%, flame retardants
- 22%, nonmetal products, including ceramics and glass and rubber products
Antimony is listed as a critical mineral in the US, EU, Japan and Australia.
China dominates global supply, but its share is steadily deceasing:
- in 2000, China produced 100,000 tonnes, out of a global total of 121,000 tonnes
- in 2024, China produces 40,000 tonnes, out of a total of 83,000 tonnes
In April, 2024, the project also secured a letter of interest from the US Export-Import Bank for a loan of up to US$1.8 billion.
Our recent analysis on why antimony prices are exploding: