Shares of U.S.-listed minerals explorer Trilogy Metals jumped as much as 205% in premarket trade on Tuesday, shortly after the White House said it would take a 10% stake in the Canadian company.

The stock was seen trading 175% higher in premarket deals at 10:35 a.m. London time (5:35 a.m. ET).

The White House on Monday announced a partnership with Trilogy Metals as part of a push to unlock domestic supplies of copper and other critical minerals in the Ambler mining district in Alaska.

The partnership included a $35.6 million investment, which makes the U.S. government a 10% shareholder in Trilogy Metals.

Trilogy Metals welcomed Trump's decision to grant permits to enable the development of critical minerals in Alaska, saying the Ambler mining district is "home to some of the worl

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