U.S. government to take 10% stake in Canadian mining company Trilogy Metals

The Gates of the Arctic National Park and Preserve, where the Ambler Road project would pass through, is visible from Ambler, Alaska, Sunday, Sept. 28, 2025. THE CANADIAN PRESS/AP-Annika Hammerschlag

Vancouver-based Trilogy Metals Inc. says the U.S. government will take a 10-per-cent stake in the mineral exploration company, which has mining interests in Alaska that Washington wants to see developed.

The U.S. government is spending US$35.6 million on the stake, and has options to increase it further in the future. The transaction remains subject to regulatory and other approvals.

The announcement comes as U.S. President Donald Trump signed an executive order that directs a road to be built in Alaska allowing access to the Ambler mining district, an area rich in copper where Trilogy Metals has an interest through a joint venture.

The long-debated Ambler Road project was approved in the first Trump administration, but was later blocked by the Biden administration after an analysis determined the project would threaten caribou and other wildlife and harm Indigenous peoples that rely on hunting and fishing.

“This proposed partnership with the U.S. Government represents a significant milestone for Trilogy Metals and for the development of a secure, domestic supply of critical minerals for America in Alaska,” Trilogy Metals CEO Tony Giardini said in a news release.

The partnership interest underscores the strategic importance of Trilogy’s Upper Kobuk Mineral Projects in supporting U.S. energy, technology, and national security priorities, he said.

U.S. Secretary of the Interior Doug Burgum said the investment will help secure critical mineral supplies.

“They’re (Trilogy Metals) one of the companies that has mining claims in this area that is a remote wilderness right now, and again making that investment so we can make sure that we’re securing these critical mineral supplies and that ownership in that company will benefit the American people,” he said.

The U.S. government said last week it is taking a minority stake in Lithium Americas, another Canadian-headquartered company that is developing one of the world’s largest lithium mines in Nevada.

This report by The Canadian Press was first published Oct. 6, 2025

CP Staff, The Canadian Press