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 det

See Full Page