U.S. Acquires 10% Stake in Trilogy Metals to Boost Alaska Mining

President Donald Trump announced the U.S. government's $35.6 million investment to acquire a 10% stake in Canadian minerals explorer Trilogy Metals to boost critical mineral supplies and energy projects in Alaska. This move reverses a previous Biden-era decision by approving the Ambler Road project, a 211-mile highway to access mineral deposits including copper, cobalt, and gallium in Alaska's Northern Brooks Range. The investment includes warrants to purchase an additional 7.5% of the company, which holds significant mining claims in remote northwestern Alaska. Interior Secretary Doug Burgum highlighted the project's environmental sensitivity and the strategic importance of securing critical minerals to counter China's dominance in the industry. The Pentagon is also investing in Trilogy Metals as part of a broader effort by the Trump administration to support North American mining ventures, including recent stakes in Lithium Americas and MP Materials. Trilogy Metals' shares surged significantly following the announcement, reflecting market confidence in the government's backing.