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As America Pursues Mineral Independence, A US$2.9 Billion EXIM Loan Signals the Next Phase for Domestic Critical Mineral Projects

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  • The U.S. Export-Import Bank unanimously approved a $2.9 billion senior secured loan on May 21, 2026, to fund Perpetua Resources Corp.'s Stibnite Gold-Antimony Project in Idaho under the "Make More in America" Initiative.
  • The 13-year EXIM facility, combined with Perpetua's existing cash, is expected to fully cover the $2.5 billion direct construction costs for the project, which targets the nation's only reported domestic antimony reserve.
  • Industry observers state that while the Stibnite project is significant, multiple domestic projects are required to close the structural antimony supply deficit facing U.S. manufacturers & defense contractors.
  • NevGold Corp. is advancing its 100%-owned Limousine Butte Project in Nevada, with a maiden antimony-gold Mineral Resource Estimate targeted for Q2 2026 & a 20,000-meter drill program commenced on May 21, 2026.
  • NevGold's Limousine Butte Project features oxide mineralization that avoids complex sulphide processing, utilizes at-surface historical gold leach pads for rapid production, & operates in a permitting-friendly Nevada jurisdiction.
  • Technical results from NevGold include drill intercepts of 1.93 g/t gold-equivalent over 100.6 meters & metallurgical tests showing up to 99% gold recovery & 54-92% antimony extraction.
  • United States Antimony Corporation reported Q1 2026 results highlighting contract deliveries to the Defense Logistics Agency & $12.8 million in Department of War grant milestones.
  • Nova Minerals Limited completed winter freight mobilization to its Estelle Project in Alaska, delivering 1.5 million pounds of equipment under a $43.4 million U.S. Department of War award.
  • Americas Gold and Silver Corporation reported record Q1 2026 silver production of 787,000 ounces & formed a 51%-owned antimony processing joint venture in Idaho with United States Antimony.
  • Americas Gold and Silver Corporation also announced an agreement with Sprott Mining to convert a silver delivery obligation into common shares to free capital for reinvestment.
  • The article emphasizes that geopolitical tensions & China's historical dominance in antimony supply have elevated the mineral to a national security priority, driving renewed investor focus on U.S. domestic developers.