U.S. Army Awards Perpetua Resources $40 Million for Tungsten
Perpetua Resources Corp. received up to $40 million from the U.S. Army to develop domestic tungsten production at the Stibnite Mining District in Idaho.
The United States Army awarded up to $40 million to Perpetua Resources Corp. to advance the domestic supply of tungsten through the Defense Ordnance Technology Consortium. The 36-month cost-share program focuses on evaluating the technical and economic feasibility of producing tungsten concentrate at the Stibnite Mining District in Idaho.
Funding will support metallurgical testing, drilling, and the potential construction of an exploration decline to access high-grade tungsten, gold, and antimony mineralization beneath the Hangar Flats pit. Perpetua Resources will match the Army's $40 million contribution, with the initial 18-month phase estimated at $18 million shared equally between the two parties.
The initiative aims to reduce U.S. reliance on tungsten imports, as no commercial tungsten mining has occurred within the United States since 2015. This award increases the total U.S. government funding for critical minerals provided to Perpetua Resources to $126 million since 2022.
