Perpetua Resources wins US Army contract to assess tungsten project in Idaho
Perpetua Resources received a $40 million, 36-month Army award to study tungsten concentrate production at its Stibnite district in Idaho.
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what happened
Perpetua Resources said it received a 36-month, $40 million award from the US Army. The funds will go toward evaluating whether tungsten concentrate can be produced at the Stibnite Mining District in central Idaho.
According to the company, the district has previously yielded gold, silver, tungsten, stibnite and antimony, and supplied tungsten and antimony to the US during World War II. Perpetua said there has been no commercial tungsten mining in the country since 2015. The deal is a cost-share program: the initial 18-month phase is expected to cost about $18 million, split equally between the company and the Army.
The work covers drilling to define a potential tungsten resource, collecting material for testing, and permitting and engineering an exploration decline. Perpetua also plans to continue exploration beneath its permitted Hangar Flats pit, which holds about 1.37 million ounces of gold and over 95 million pounds of antimony resources.
why it matters
The project is still at the evaluation stage, so for markets this is more a signal of government support than the start of production. Interest in tungsten and antimony tends to rise when news touches on metals used in defense, so domestic project developments draw attention.
market impact
Tungsten and antimony: government funding signals support for US projects; Perpetua: direct share price effect likely limited
tags
instruments
sources
- Perpetua Resources Gets U.S. Army Contract for Tungsten Exploration — Dow Jones Newswires, 26 October 2026 at 22:22 UTC
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