Idaho Strategic Resources

What Idaho Strategic Resources does

Idaho Strategic Resources, Inc. is a junior mining company headquartered in Coeur d'Alene, Idaho, and publicly traded on NYSE American under ticker IDR. The company operates a production-backed exploration business model anchored by its wholly-owned Golden Chest Mine, a high-grade underground gold mine in continuous production since 2016 that serves as the primary source of operating cash flow. Ore is processed at the company's New Jersey Mill using flotation, producing gold concentrates and doré that are sold to refiners and smelters at market prices benchmarked to the London PM Fix. In 2025, the company produced 12,538 ounces of gold at an all-in sustaining cost of $1,891.79 per ounce and generated record revenue of $42.4 million, representing 64.6% year-over-year growth and its third consecutive year of GAAP profitability.

Idaho Strategic reinvests cash flow from gold operations into production growth and district-scale exploration across its consolidated Murray Gold Belt landholdings. The exploration portfolio includes the Niagara copper-silver project (historic inferred resource of approximately 150 million pounds of copper and 8.8 million ounces of silver), the Toboggan project acquired from Hecla Silver Valley in 2025, and three rare earth elements and thorium projects (Lemhi Pass, Mineral Hill, Diamond Creek) in central Idaho. The company holds the largest rare earth elements land package in the United States with over 20,000 acres of mineral claims and controls the largest domestic source of thorium resources at Lemhi Pass, positioning it strategically within U.S. critical minerals policy priorities.

The company's go-to-market is direct commodity sales to refiners and smelters under standard industry pricing, supplemented by partnerships with the University of Idaho, Idaho National Laboratory, Idaho Geological Survey, and Clean Core Thorium Energy to advance REE and thorium commercialization. A new Murray Mill is under construction at the Golden Chest Mine site with designed throughput of 400 tpd to support expanded district-scale ore processing. The company ended 2025 with $73.3 million in cash and investments, was included in the Russell 3000 Index in June 2025, and received up to $1 million in Department of Energy funding for rare earth elements research in 2026.

Name

Idaho Strategic Resources

Legal name

Idaho Strategic Resources, Inc.

Website

https://idahostrategic.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Idaho Strategic Resources is a junior mining company operating the high-grade underground Golden Chest gold mine in Idaho, processing ore at the New Jersey Mill, and exploring the largest U.S. rare earth elements land package plus copper-silver and thorium assets to supply domestic critical minerals markets.

Ownership category

akta.pro rank

Product category

Gold Mining and Critical Minerals Exploration

NAICS

Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (21223), Metal Ore Mining (2122)

SIC

Gold And Silver Ores (1040), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industry

Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)

Keywords

• Underground gold mining
• Rare earth elements exploration
• Critical minerals production
• Mineral processing milling
• Thorium copper silver

Headquarters

HQ city

Coeur D'alene

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Gold Production and Sales: Revenue generated from gold production at the Golden Chest Mine. The company mines ore from underground stopes on the H-Vein, processes it at the New Jersey Mill via flotation, and sells gold concentrates and doré. The company achieved record gold production of 12,538 ounces in 2025 and 3,234 ounces in Q1 2026.
2. Critical Minerals Exploration: Future revenue potential from rare earth elements, thorium, and copper-silver projects. The company holds the largest REE land package in the U.S. and is advancing projects including Lemhi Pass, Mineral Hill, Diamond Creek (REE/thorium), and Niagara (copper-silver). DOE awarded $1M for REE research.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Idaho Strategic Resources is a junior mining company that operates a production-backed exploration business anchored by gold production at its wholly-owned Golden Chest Mine in Idaho. Ore is processed at the New Jersey Mill into gold concentrates and doré for sale to refiners and smelters. Cash flow from gold operations funds district-scale exploration of its consolidated Murray Gold Belt landholdings (including the Niagara copper-silver project and Toboggan gold project) and its rare earth elements-thorium portfolio (Lemhi Pass, Mineral Hill, Diamond Creek), which collectively represent the largest U.S. REE land package at over 20,000 acres.

Product overview

Idaho Strategic Resources operates as a production-backed exploration company with a portfolio of mining operations and mineral exploration projects. The company's core revenue-generating product is the Golden Chest Mine, a high-grade underground gold mine supported by the New Jersey Mill for ore processing, with a new Murray Mill under construction. The exploration portfolio includes the Niagara copper-silver project in the Murray Gold Belt District, and three rare earth elements-thorium projects (Lemhi Pass, Mineral Hill, and Diamond Creek) spanning central Idaho's REE-Th Belt. The company also controls the largest rare earth elements land package in the United States with over 20,000 acres of mineral claims, and is recognized as holding the largest domestic source of thorium resources at Lemhi Pass.

Differentiator

Problem solved

Functional benefit

Products and services

• Golden Chest Mine A high-grade underground gold mine in continuous production since 2016, located in the Murray Gold Belt District of Idaho. Ore is mined from underground stopes on the H-Vein and serves as Idaho Strategic Resources' primary source of cash flow, which is reinvested in production growth and district-scale exploration.
• New Jersey Mill

Quantifiable outcome

• Revenue increased 64.6% to $42.4 million in 2025, with third consecutive year of GAAP profitability
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• University of IdahocoreStrategic or Co-development Partner · 21 May 2026The University of Idaho serves as project lead for the DOE-funded REE research project (Funding Opportunity 3105). IDR is collaborating with the university to explore and extract Idaho-sourced rare earth elements including neodymium, praseodymium, and dysprosium for potential commercialization. The university is leading downstream work including novel separation technologies and potential metallization.
• Idaho National LaboratorycoreStrategic or Co-development Partner · 21 May 2026Providing technical guidance for the DOE-funded REE research project. Idaho National Laboratory supports the exploration and extraction of Idaho-sourced rare earth elements with technical expertise in critical minerals processing and separation technologies.
• Idaho Geological SurveycoreStrategic or Co-development Partner · 21 May 2026Providing technical guidance and geological expertise for the DOE-funded REE research project. The Idaho Geological Survey supports identification of enriched areas within IDR's central Idaho landholdings and provides technical guidance on rare earth exploration.
• Hecla Silver Valley, Inc.minorOthers · 31 July 2025Acquired the Toboggan project from Hecla Silver Valley, Inc. (a wholly owned subsidiary of Hecla Mining Company) for $300,000 cash plus a 1% net smelter royalty. The Toboggan project comprises 143.5 acres of patented mining claims including Little Baldy prospect and adjacent unpatented mineral claims.
• Clean Core Thorium Energy, Inc. (CCTE)coreStrategic or Co-development Partner · 13 May 2025IDR signed a Memorandum of Understanding with CCTE to evaluate the feasibility of thorium mining, processing, and fuel fabrication for CCTE's ANEEL fuel - an advanced nuclear fuel comprised of thorium and high assay low-enriched uranium (HALEU) for pressurized heavy water reactors. The partnership aims to advance a 'Made in America' thorium-based nuclear fuel supply chain.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Coeur Mining: Coeur Mining is a precious metals producer with active operations in Idaho (including the Rochester mine) and across North America, directly overlapping with IDR's gold production focus and broader silver/gold commodity exposure.
• Perpetua Resources: Perpetua Resources is advancing the Stibnite Gold Project in Idaho, combining gold production with antimony (a critical mineral). It competes directly with IDR for Idaho mining talent, regulatory engagement, and U.S. critical minerals policy positioning.
• Hecla Mining Company: Hecla is a major silver and gold producer that has historically operated in Idaho's Silver Valley and the Coeur d'Alene Mining District, adjacent to IDR's Murray Gold Belt. Hecla sold IDR the Toboggan project in 2025 and competes for the same regional labor, infrastructure, and exploration opportunities in northern Idaho.
• McEwen Mining: McEwen Mining is a gold and silver producer with operations across the Americas; its scale, single-commodity focus, and small-cap profile closely mirror IDR's positioning as a production-plus-exploration junior gold miner.

Emerging players

• USA Rare Earth: USA Rare Earth is developing a fully domestic rare earth and critical minerals supply chain including mining and processing capabilities, positioning it as an emerging thematic peer to IDR's REE/thorium exploration strategy in Idaho.
• Vista Gold Corp: Vista Gold is a junior gold developer advancing the Mt. Todd project in Australia; comparable to IDR as a small-cap, single-asset precious metals developer focused on taking a project through development and into production.
• U.S. Gold Corp: U.S. Gold Corp is a small-cap gold exploration and development company focused on U.S. assets, comparable to IDR's profile as a junior U.S.-focused gold and critical minerals developer pursuing similar policy-driven domestic production themes.

Broad incumbents

• Newmont Corporation: Newmont is the world's largest gold miner and previously operated the Toboggan project through its exploration team. It competes broadly with IDR for U.S. gold production resources and benefits from the same domestic critical minerals tailwinds at vastly greater scale.

Others

• MP Materials: MP Materials operates the Mountain Pass mine in California — the only scaled U.S. rare earth producer — making it the most directly comparable REE peer for IDR's critical minerals strategy, though at a much larger scale and focused exclusively on REE rather than gold.
• Energy Fuels Inc. Energy Fuels is a U.S. critical minerals and rare earth processor that has been expanding into REE separation and processing, providing a parallel investment thesis to IDR's REE/thorium exploration strategy and competing for similar policy-driven capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/IdahoStrategic
• YouTubeyoutube.com/channel/UCvOzwsLLpxxGRm5usFlFNvg
• Facebookfacebook.com/IdahoStrategic
• Instagraminstagram.com/idahostrategic
• LinkedInlinkedin.com/company/idaho-strategic-resources-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Idaho Strategic Resources