Perpetua Resources Gets Up to $40M in Army Funding for Tungsten
The U.S. Army will fund Perpetua Resources up to $40M to develop domestic tungsten supply, adding a second critical mineral focus to its program.
Perpetua Resources has secured a funding agreement worth up to $40 million from the U.S. Army to advance domestic tungsten exploration and production, the company announced. The deal was reached through the Defense Ordnance Technology Consortium, a contracting vehicle designed to accelerate critical material development for national security purposes.
The agreement marks a significant expansion for Perpetua Resources, which now carries a second critical mineral pillar alongside its existing program. Tungsten is a strategically vital metal used in armor-piercing ammunition, cutting tools, and a range of defense applications, making its domestic supply a priority for the Pentagon amid growing concerns over dependence on foreign sources, particularly China.
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Under the terms of the arrangement, work will focus on drilling campaigns, metallurgical test work, and the construction of a decline — an underground access tunnel — into an area known as Hangar Flats. The Hangar Flats decline is intended to provide direct access to high-grade tungsten deposits, enabling more precise resource evaluation and paving the way toward potential extraction.
The award underscores a broader U.S. government push to onshore critical mineral supply chains deemed essential to defense readiness. By channeling Army dollars into early-stage exploration and infrastructure, officials aim to reduce the timeline between discovery and operational production for materials that currently rely heavily on overseas suppliers.
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