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US Forest Service issues conditional notice for

development

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Construction of Stibnite project expected to begin by

October

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Reclamation bond finalization expected within weeks

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US Export-Import Bank reviews $1.8-billion loan

By Ernest Scheyder

Sept 19 (Reuters) - Perpetua Resources ( PPTA ) said on

Friday it has received U.S. permission to begin construction of

its antimony and gold mine in Idaho, poised after nearly a

decade of review to supply a critical mineral whose exports

China has blocked.

The company plans a ceremony with investors and politicians

at its Stibnite project, about 138 miles (222 km) north of

Boise, after a conditional notice to proceed from the U.S.

Forest Service, but actual constructin is to start by October.

The green light for the mine, backed by billionaire investor

John Paulson, comes after Beijing last year blocked exports to

the United States of antimony, a metal used to make bullets,

solar panels and other goods.

There are no current U.S. sources of the metal.

The project received its mining permit in January, provided

several minor conditions were met.

Friday's move is essentially an acknowledgement by President

Donald Trump's administration, which has supported the mine,

that those conditions were satisfied.

"Completing federal permitting for Perpetua Resources' ( PPTA )

Stibnite Gold Project is a major step towards unlocking

America's critical minerals resources," said Emily Domenech,

executive director of the government's permitting council.

Boise, Idaho-based Perpetua must finalize a reclamation bond

for the mine, a routine step expected to wrap up within a few

weeks.

The mine will supply more than 35% of America's annual

antimony needs once it opens by 2028 and produce 450,000 ounces

of gold each year.

The dual revenue stream is expected to keep the project

financially afloat regardless of any steps by Beijing to sway

markets. The site has estimated reserves of 148 million pounds

of antimony and 6 million ounces of gold.

Last April, Perpetua received a letter of interest from the

U.S. Export-Import Bank, the government's export credit agency,

for a project funding loan worth up to $1.8 billion that is

still under review.

The project has faced opposition from Idaho's Nez Perce

tribe, which is concerned the mine could affect the state's

salmon population.