Perpetua Resources talks to Glencore and others about US antimony processing

Perpetua Resources announced on Thursday that it was in discussions with Glencore and Trafigura about a partnership for the refinement of antimony in America. This is part of an effort to increase Western supplies of this critical mineral, whose exports China blocked.

The U.S. Government granted permission to the company, whose largest shareholder is billionaire John Paulson, last week to start construction on its antimony-and-gold mine, located 138 miles north of Boise, Idaho.

Antimony is used in bullets, solar cells, and other products. The metal is not currently available in the United States.

Perpetua intends to extract the metal, but not refine it. This is fueling the push to find partners to take the next step.

In a press release, the company stated that it was in discussions with Glencore Trafigura Sunshine Silver and Clarios about a partnership in refining. It plans to solicit proposals in the next few weeks, with a final decision due by the end the year.

Jon Cherry, CEO of Perpetua, said: "We're encouraged by the emerging opportunities to increase domestic mineral processing in America, and we intend to make informed, market-based choices when selecting a partnership."

Glencore declined comment. Sunshine Silver, Clarios and Trafigura didn't immediately respond to requests for comments.

Perpetua mine's estimated reserves are 148 million pounds antimony and six million ounces gold.

The Nez Perce tribe of Idaho has filed a lawsuit against the project, claiming that the mine will affect the salmon population in the state.

Separately United States Antimony which controls two North American refineries of antimony secured a contract worth up to $245 millions from the U.S. Defense Logistics Agency earlier this week to supply antimony ingots. (Reporting and editing by Ernest Scheyder)

(source: Reuters)