Perpetua Resources gets $40M US Army funding to advance tungsten production
The award will fund a program to evaluate the technical and economic feasibility of producing tungsten concentrate at its project in the historical Stibnite mining district in Idaho.
Perpetua Resources has been awarded a $40 million grant by the U.S. Army to explore the potential of tungsten production in Idaho's Stibnite mining district. This 36-month, cost-share program with the U.S. government will fund drilling, laboratory testing, and engineering efforts to assess the feasibility of producing tungsten concentrate at the historic site.
The U.S. is currently entirely reliant on imports for tungsten, facing supply risks due to Chinese export controls and federal restrictions. Stibnite district has a history of producing tungsten and antimony, contributing half of the US tungsten and 90% of antimony during World War II, before production ceased. Perpetua's recent gold-tungsten discovery and exploration results in the area suggest the potential for a significant tungsten source.
The new award comes as part of the U.S. government's efforts to establish a domestic antimony supply chain for defense and industrial uses. CEO Jon Cherry highlighted the strategic value of the Stibnite district and its historical significance as a source of tungsten.
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