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Trilogy Metals is now owned by the US after Trump approves a road for mining in Alaska

U.S. president Donald Trump said on Monday that he signed an executive ordering directing his administration allowing an access road into the Ambler district of Alaska in order to unlock domestic supply of copper and other mineral.

The White House announced an investment of $35.6 million in Canada's Trilogy Metals. This is one possible developer for the region. The U.S. Government becomes a 10% stakeholder in the company, and has warrants for an additional 7.5%.

Trilogy shares listed in the U.S. more than doubled to $4.72 after-hours.

This partnership is a vote of confidence for the Ambler Mining District, and a significant step forward in domestic mineral development, which is fundamental to America's economy and security," said Kaleb Fröhlich, managing Director of Ambler Metals. Ambler Metals is a joint venture of Trilogy and Australia’s South32 Limited.

Trump's order reverses Biden's administration's refusal of a 211 mile (340 km) road that was intended to allow mine development in north central Alaskan. Biden's Interior Department had in 2024 cited risks for caribou and fishing populations, which dozens of Native communities depend on as a subsistence.

Trump stated at an Oval Office signing event that the project should have been operating for years and generating billions of dollars in revenue and providing a great deal of energy, minerals and other resources.

The Alaska state agency who proposed the project appealed Biden's decision.

The Sierra Club, an environmental group, said that development would damage the pristine landscapes in this region which support tribal peoples and wildlife.

Athan Manuel said that the communities along the route of the road had consistently expressed their opposition to this destructive project. This order ignores these voices and favors corporate polluters. Reporting by Steve Holland, Washington; Nichola Groom, Los Angeles. Editing by Franklin Paul & Lincoln Feast.

(source: Reuters)