During the premarket trading on Tuesday, shares of U.S.-listed Trilogy Metals surged by as much as 205%, following the White House’s announcement that it would acquire a 10% ownership in the Canadian minerals explorer.
The sharp upswing came after the White House revealed a $35.6 million investment as part of a broader partnership with Trilogy Metals, aimed at expanding the development of copper and other critical minerals in Alaska’s Ambler mining district.
This move forms a key part of President Donald Trump’s push to secure U.S. sources of key minerals. The administration’s decision also reverses Biden-era policy, granting critical permits previously denied for the Ambler Road project and reaffirming support for the region’s mining infrastructure.
Trilogy Metals states the Ambler mining district “is home to some of the world’s richest known copper-dominant polymetallic deposits.” The company added that Washington’s policy changes represent “a renewed federal commitment to responsible resource development in Alaska,” and position Ambler Road as critical federal infrastructure.
According to Trilogy Metals, the partnership will help secure U.S. supply chains for minerals such as copper, cobalt, zinc, and lead, crucial for the nation’s energy, defense, and manufacturing sectors.
Despite this momentum, environmental and community advocates remain deeply concerned about the 211-mile Ambler Road project, arguing that it threatens the pristine Alaskan wilderness and the livelihoods of local people and wildlife.
Notably, the latest investment also highlights the administration’s broader strategy: The Trump Administration now holds sizable equity positions in multiple strategically significant companies, including:
- 10% equity stake in Intel
- 15% equity stake in MP Materials
- 10% equity stake in Lithium Americas
- 10% equity stake in Trilogy Metals
- A “golden share” in U.S. Steel Corporation
The administration has also floated the idea of acquiring equity interests in major defense contractors. Financial markets are now witnessing what analysts are calling a new era of government equity stakes.
