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Perpetua Resources and Sunlight Silver to check out antimony processing in Idaho

Perpetua Resources stated on Monday its Idaho system has signed a nonbinding contract with private firm Sunlight Silver Mining & & Refining to explore the processing of antimony, amid a brewing trade war between the U.S. and China over crucial minerals.

Shares of Perpetua rose 7.4% in premarket trade.

Under the contract, the companies will examine the technical potential for processing and refining antimony from Perpetua's. Pentagon-backed Stibnite antimony and gold task at the. Sunshine Mine Complex in Idaho.

Last week, China prohibited the export of antimony-- a vital. element in defense, clean energy and semiconductor applications. -- and other minerals such as germanium and gallium to the U.S.,. after Washington's newest crackdown on China's chip sector.

Stibnite Gold Job is the only recognized domestic. reserve of antimony, and with last federal choices expected. in a matter of weeks, Perpetua is ready to work with U.S. companies to help secure domestic production of antimony,. Perpetua CEO Jon Cherry stated.

Perpetua stated it and Sunlight Silver expect to cater to 40%. of U.S. domestic antimony demand.

The business anticipates to get the permit for the Stibnite. project, likewise backed by hedge fund manager John Paulson, by. year-end.

(source: Reuters)