Perpetua Resources has secured unanimous approval for a US Export-Import Bank $2.9 billion loan under the Make More in America Initiative to build the $1.3 billion Stibnite Gold project in Idaho, which hosts the only identified domestic antimony reserve. The financing, combined with existing cash, is expected to fully fund direct construction, supporting the US Army’s “ground-to-round” antimony trisulphide supply chain for ammunition and wider defence uses. The project, designated a FAST-41 Transparency Project, has completed extensive scientific and public review, while Perpetua’s market capitalisation sits at $3.34 billion.

Exploration momentum is building across Australia as Auravelle Metals, Terrain Minerals and Amara Minerals push gold and antimony projects forward via reverse circulation (RC) drilling, technical studies and early-stage resource work. Terrain is advancing its Lightning gold project towards a maiden resource while also running new RC drilling campaigns at Nuckulla Hill to test extensions to known mineralisation. Amara is reporting growing confidence in a deepening antimony system at Lauriston, signalling potential for larger-scale, higher-grade underground targets.

Copper’s record run to $6.667/lb ($14,700/t) now gives 75 operating copper mines nominal annual copper revenues above $1 billion based on 2025 mine-level production, up from 52 on the previous MINING.COM “unicorn” list. The analysis excludes byproduct credits, meaning several large Cu-Au or Cu-Mo operations would exceed $1 billion at effectively negative net copper cost once gold, molybdenum or cobalt are accounted for. With copper making up nearly 6% of initial capex for hyperscale data centres, the sector is positioned to capture a larger share of AI-driven infrastructure spending.