Perpetua gains enviro approval for Stibnite project
The US Forest Service has approved the mine plan for Perpetua Resources’ Stibnite gold project, in Idaho, in accordance with the country’s National Environmental Policy Act (Nepa).
This final record of decision concludes an extensive eight-year process of investigation, analysis, consultation, and public engagement. The approval allows Perpetua to proceed toward a final construction decision, including securing remaining federal and state permits and project financing.
Having elevated the Stibnite project to an “elite class” of projects that have cleared Nepa, the project can deliver decisive wins for communities, the environment, the economy and national security, says Perpetua CEO and president Jon Cherry.
The company entered into the formal permitting process under Nepa in 2016, with more than 23 000 letters having been written in support of the project since.
The mine plan includes details on rehabilitation of the site during and after mining, including the removal of tailings and waste to improve water quality, the restoration of river habitat and unblocking historical fish habits, as well as wetland expansion.
Located on a historically abandoned mine site, the Stibnite project is poised to attract over $1-billion in investment and create more than 500 jobs for Idaho residents.
With a gold reserve of 4.8-million ounces, the project is expected to produce 450 000 oz/y of high-grade gold during its first four years of operation. Further, Stibnite’s 148-million-pound antimony reserve is the only identified domestic source in the US and could supply 35% of the country’s antimony demand in its first six years.
Antimony is a listed critical mineral for its role in technology, defence, and energy products. Notably, with China having mined almost half of all mined antimony output worldwide and cutting off global exports, including to the US, Perpetua can help to secure a domestic antimony supply for the region.
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