Engineering major Hatch has been named as engineering, procurement and construction management contractor for Perpetua Resources Corp’s proposed US$1.3 billion Stibnite gold-antimony project in Idaho, USA, while agreeing to buy $4 million worth of Perpetua shares.
Perpetua said Hatch’s equity investment wasn’t a factor in its selection as EPCM contractor and terms of the agreement, to be finalised in the next few weeks, were “not contingent on the private placement”.
Perpetua is looking at the second quarter of next year for a final investment decision.
“Our team understands the strategic importance of domestic mineral supply chains and the opportunity at Stibnite to bring modern engineering, responsible construction and operational excellence together in service of US industry and national resilience,” Hatch CEO John Bianchini said.
“We are so well aligned with Perpetua’s strategic vision that we are making our own $4 million equity investment.”
Perpetua CEO Jon Cherry said Hatch’s experience with “sophisticated mining and metallurgical facilities in the United States will play a critical role in advancing Stibnite to the next phase of development”.
Hatch’s selection advanced Perpetua’s construction readiness and supported ongoing financing due diligence with the US Export-Import Bank, he said.
Only firms with demonstrated technical depth, commercial competitiveness and previous engagement at Stibnite were invited to bid. “Hatch emerged as the clear leader across commercial, technical and execution-readiness criteria”, Perpetua said.
Stibnite, in the Stibnite-Yellow Pine district of central Idaho, produced gold, silver, antimony and tungsten for more than 20 years up to the late 1950s and was then revitalised as a gold and silver producer between 1978 and 1996.
