Perpetua Resources Receives $40 Million U.S. Army Award to Advance Domestic Tungsten Production
Perpetua Resources (Nasdaq: PPTA) has secured a 36-month, $40 million award through the U.S. Army's Defense Ordnance Technology Consortium (DOTC). The cost-sharing program is designed to evaluate the technical and economic feasibility of producing tungsten concentrate at the Stibnite Mining District in Idaho, aiming to bolster domestic supply chains for critical minerals. The funding will support drilling, metallurgical testing, and the engineering of an exploration decline to access high-grade mineralization. This initiative addresses a significant national security gap, as the United States has lacked commercial tungsten mining since 2015 and remains heavily reliant on foreign imports amid increasing global supply risks.
Tickers: $PPTA
Topics: Critical Minerals Mining Development Tungsten Exploration U.S. Army Award