U.S. President Donald Trump signed an executive order authorizing construction of an access road to Alaska’s Ambler mining district, reversing a prior Biden-era rejection and advancing efforts to boost domestic supplies of copper and other critical minerals. The move coincides with a $35.6 million U.S. government investment in Trilogy Metals ($TMQ), granting a 10% ownership stake in the company.
- The Ambler Mining District contains significant deposits of copper, zinc, and cobalt vital for energy and defense industries.
- Trilogy’s shares surged more than 200% in premarket trading following the announcement.
- The order overturns a 2024 Biden administration decision that blocked the 211-mile access road due to environmental concerns.
- Trilogy Metals operates Ambler Metals, a joint venture with Australia’s South32 Limited, and said the deal marks a “major step forward” for U.S. mineral independence.
- The Sierra Club criticized the move, warning it could harm ecosystems and tribal lands dependent on caribou and fish populations.
Relevant Companies
- Trilogy Metals ($TMQ) – Shares soared after the U.S. took a 10% stake to support mineral development in Alaska.
- None found
Editor’s Note: This is a developing story. This article may be updated as more details become available.
