U.S. Secures Critical Minerals with Trilogy Metals Investment
The U.S. government has acquired a minority stake in Vancouver-based Trilogy Metals Inc., a significant move towards securing domestic supplies of critical minerals. The transaction, subject to regulatory approvals, involves an initial investment of US$35.6 million, with options to increase the stake in the future.
The deal, facilitated by a government loan agreement, sees the U.S. join Trilogy Metals in the Ambler Road project in Alaska. Previously blocked by the Biden administration due to environmental and Indigenous concerns, the project gained traction under President Trump's executive order to build a road accessing the Ambler mining district.
Jonathan Evans, managing director of Lithium Americas, another Canadian company, welcomed the U.S. investment. The company recently saw the U.S. government take a minority stake in its Thacker Pass lithium project in Nevada. Trilogy Metals CEO Tony Giardini hailed the partnership as a significant milestone, paving the way for domestic critical mineral supply in Alaska.
The U.S. government's investment in Trilogy Metals is part of a broader strategy to secure critical mineral supplies. With the Ambler Road project now backed by the U.S., the path is clear for developing the Ambler mining district, a potential boon for domestic mineral production.
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