U.S. takes 10% Trilogy stake in Alaska push
The U.S. government closed a $35.6-million investment for about 10% of Trilogy Metals, with the Defense Department paying $17.8 million to Trilogy and $17.8 million to South32 for existing shares. Proceeds were committed to Ambler Metals, the 50-50 joint venture advancing the Upper Kobuk projects. Warrants and options could raise the government’s economic position to about 17.5%.
Why it matters: This transaction exemplifies the critical-minerals theme of Washington using equity stakes to secure strategic mineral supply chains and reduce dependence on Chinese-controlled supply chains.