Illustration: Gabriella Turrisi/Axios
The Biden administration's planned authorization of a critical minerals project in Idaho marks a rare win for the mining industry in the name of national security and clean energy interests.
Why it matters: Under the decision announced Thursday, Perpetua Resources Corp.'s Stibnite Gold Project would tap the only U.S. reserve of antimony, a metal used in bullets and tanks, as well as in electric vehicle batteries.
- China, the world's largest antimony producer, is imposing export restrictions on antimony on Sept. 15.
Between the lines: The Biden administration has been trying to secure supply chains of critical minerals while facing pressure from some environmental groups who fear mining impacts and pollution.
- In June, the Interior Department blocked construction of an Alaskan road necessary to reach a copper deposit, a blow to the proposed Ambler Mine.
- Last year, DOI established a 20-year moratorium on mining upstream from Minnesota's Boundary Waters Canoe Area Wilderness, disappointing copper and nickel mining interests.
Yes, but: Support from the Pentagon and congressional pressure — mostly from Republicans — ultimately swayed the administration.
- The mine was backed by $75 million in Defense Department awards and received a letter of interest from the Ex-Im Bank for up to $1.8 billion in debt financing.
What they're saying: Sen. James Risch, a member of the Energy and Natural Resources Committee, praised the authorization but said the long wait "underscores the need for permitting reform."
- "It should not take nearly a decade to complete one aspect of the permitting process for a mine critical to our national security and strategic competition with China," Risch said.
- Rep. Russ Fulcher called it a "big win" for Idaho and "a critical step toward securing our nation's supply chain and addressing historical environmental concerns."
What's next: A final environmental impact statement and draft record of decision will be published on the Federal Register tomorrow, the U.S. Forest Service announced Thursday. A final record of decision is expected by the end of the year.
- The agency balanced "the demand for mineral extraction and the related social and economic benefits with our commitment to environmental stewardship and sustainability," said Kevin Knesek, deputy forest supervisor for the Payette National Forest.
Our thought bubble: While the news is unlikely to make future mining proposals any easier, it shows a path to approval under a Democratic administration for mineral projects connected to national security.
