We to take 10% interest in trilogy metals to unlock Alaska mining

(Bloomberg) – The US said it would be a 10% stake in the Canadian Minerals Explorer Trilogy Metals Inc. Take as part of an investment of $ 35.6 million to ensure critical energy and mining projects in Alaska. In an announcement on Monday, President Donald Trump said that the White House reversed a decision of the Biden era to reject Ambler Road, a project to help access large critical mineral deposits in the Northern Brooks series in Alaska to open critical energy and mining projects. The 340 kilometers (340 kilometers) highway would connect a remote mining district with copper, cobalt, gallium, germanium and other minerals. “It was something that had to work for a long time and earn billions of dollars for our country and deliver a lot of energy and minerals and everything else,” Trump said during an event in the Oval Office. Trilogy Metals has mining claims in remote areas of Alaska, including a joint venture with South32 Ltd. The US agreement also contains warrants to purchase an additional 7.5% of the Vancouver-based company. The planned investment is the latest example of the Trump administration interested in North American critical mineral businesses to help counter China’s dominance in the industry. Just last week, the US agreed to a direct stake in Lithium Americas Corp. to acquire the Thacker Pass Lithium project in Nevada. In July, the US Defense Department agreed to a $ 400 million stock investment in MP Materials Corp. to finance a aptitude for rare earth magnets. After the announcement of the agreement, US shares of trilogy increased by more than 150% in the post-market trade. The company did not immediately respond to requests for comment. Doug Burgum, Secretary of Home Affairs, said Ambler Road would be a toll road built from gravel, and would be sensitive to environmental problems. Trump said the effort would include the construction of two bridges. The Department of Home Affairs blocked the construction during former President Joe Biden’s term and said the road would affect wildlife, including Caribou. Trump’s move directs the Bureau of Land Management, National Park Service and the US Army Corps of Engineers to re -work the necessary permits needed to build the road. Billionaire John Paulson is a top shareholder in Trilogy, with an 8.7% stake by his investment fund Paulson & Co., according to the latest data compiled by Bloomberg. -With help from Jacob Lorinc and Catherine Lucey. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP