08:13 AM EST, 12/09/2024 (MT Newswires) -- Perpetua Resources ( PPTA ) jumped 7.3% at last look on Monday in Nasdaq premarket trading after agreeing to explore antimony processing opportunities in Idaho with Sunshine Silver Mining & Refining.

Under the terms of the agreement, the companies will evaluate the technical potential for processing and refining antimony from Perpetua's Stibnite gold project in Idaho at the Sunshine mine complex.

"The Stibnite gold project is the only identified domestic reserve of antimony, and with final federal decisions expected in a matter of weeks, Perpetua is ready to work with U.S. companies to help secure domestic production of antimony," said Jon Cherry, president and CEO of Perpetua Resources ( PPTA ).

Antimony is essential for national defense, clean energy and technology applications, the companies said, adding that that China, which dominates antimony production, recently enhanced a ban on exports to the U.S.

"A fully American antimony supply chain is paramount for U.S. national and economic security," said Heather White, CEO of Sunshine Silver. "We are confident that Sunshine can process and produce high-grade antimony here in Idaho as we have done in the past."