Trump Ally John Paulson's Bet on Public Land for Antimony and Gold

Stibnite Mine Development

• 🚀 The kickoff ceremony for the Stibnite mine signals a push by the Pentagon to develop a domestic supply of antimony, a critical mineral for munitions.
• 💡 Perpetua Resources, the company owning the mine, has received $80 million in federal funding to bolster America's self-sufficiency in critical minerals.
• ⚠️ Critics question the quantity and quality of antimony at the mine, suggesting the primary objective might be more valuable resources.

Antimony's Role and History

• ⚙️ Antimony is essential for making munitions, hardening lead bullets and acting as a flame retardant when combined with sulfur.
• 📉 The Stibnite mine historically supplied 90% of the Allies' antimony through World War II but fell into disuse as importing became cheaper.

John Paulson's Investment

• 💰 Billionaire investor and Donald Trump supporter John Paulson is the main shareholder in Perpetua Resources.
• 📈 Paulson's interest is driven by the geological co-occurrence of antimony and gold in the ore deposits.
• 💰 While antimony is present, the majority of the mine's revenue is projected to come from gold, estimated to be worth nearly $19 billion.

Mining Law and Royalties

• ⚖️ Under the Mining Law of 1872, companies are not required to pay royalties on gold or other precious minerals extracted from public land.
• 🏦 This contrasts with oil, coal, and gas, where the public receives royalties, allowing mining companies to retain all profits from gold extraction.
• 🧐 Critics argue this effectively privatizes public land for corporate profit without direct public financial return.