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Court upholds approvals for Perpetua's $1.3B Stibnite build
The ruling also sent one monitoring and reporting issue back to the U.S. Fish and Wildlife Service, while Perpetua can keep construction going ahead of a final investment decision expected this year.
Perpetua Resources is moving forward with early construction on its Stibnite gold-antimony project in Idaho after a U.S. federal court upheld key approvals, dismissing environmental challenges under several federal laws, according to Mining.com.
The Aug. 18 decision upheld findings that the $1.3-billion project would not jeopardize protected species. The court did send one issue back to the U.S. Fish and Wildlife Service to clarify monitoring and reporting requirements in its Incidental Take Statements.
National Bank of Canada said in a note that it views the merits ruling as a de-risking step and expects the company to continue early works while an appeal remains pending. Perpetua is pushing toward a final investment decision expected this year, with first gold due in 2029.
Mining.com also reported that construction is already ramping up, including fabrication of components for two autoclaves in Europe and progress on housing and site infrastructure. The article noted Perpetua had $574 million in cash at the end of the second quarter, and that the U.S. Export-Import Bank approved a $2.9-billion loan in May.
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