US government secures 10% stake in Trilogy Metals
Washington closes a $35.6-million investment as Trilogy advances its Arctic copper-zinc project and Ambler access road.
The United States government has acquired a 10% stake in Trilogy Metals, a company focused on advancing critical minerals projects in Alaska, following a $35.6-million investment. This stake is in Trilogy Metals' Upper Kobuk Mineral Projects (UKMP), located in northwestern Alaska, which are held by Ambler Metals, a joint venture between Trilogy Metals and Australian miner South32.
The investment aims to support exploration and development of the UKMP, which includes high-grade deposits of copper, zinc, lead, gold, and silver. After the investment, South32's direct ownership of Trilogy Metals has been reduced from 10.7% to 6%. The government's involvement underscores its commitment to a potential new US source of essential metals for domestic supply chains.
Additionally, the government is backing infrastructure and permitting initiatives to help unlock the remote Ambler mining district and advance the infrastructure needed for Trilogy Metals' principal assets.
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