07:53 AM EDT, 03/21/2025 (MT Newswires) -- Perpetua Resources ( PPTA ) on Friday welcomed US President Donald Trump's executive order that seeks to strengthen American mineral production and reduce reliance on foreign nations for its mineral supply.

The company said its Stibnite gold project in Idaho is poised to produce gold and the only domestically mined source of antimony, a critical mineral.

In January, Perpetua received a positive record of decision for the project from the U.S. Forest Service.

"Today's executive order is a resounding endorsement of American mining, and the Stibnite gold project is a prime example of why critical mineral production in America requires immediate attention and prioritization," said Jon Cherry, Perpetua's president and CEO. "Between its national security implications, eight years of permitting review, and a comprehensive environmental restoration plan, this project is ready to move forward."

Perpetua said the executive order empowers use of the Defense Production Act to elevate domestic production capabilities. It also provides for program guidance on financing tools for mining projects made available through the U.S. Export-Import Bank.

Perpetua noted that it received a letter of interest from EXIM in 2024 for US$1.8 billion.

"We are very encouraged to see this action to unlock a new era of American critical mineral dominance," Cherry said.

The company's share price gained 2.9% on Thursday to $6.44 on the TSX.