US government takes 10% stake in Trilogy Metals
2026-09-15 10:57:25 [Print]
The US government has acquired a 10% ownership stake in Trilogy Metals following the completion of a $35.6-million investment aimed at advancing the company's critical minerals projects in Alaska.
The funding will support exploration and development at the Upper Kobuk Mineral Projects (UKMP) in northwestern Alaska. The properties are held by Ambler Metals, a 50/50 joint venture between Trilogy and Australian miner South32.
Trilogy and South32 are expected to share the proceeds and have committed to reinvesting the funds into the UKMP. As a result of the transaction, South32's direct ownership in Trilogy has been diluted to 6% from 10.7%.
The UKMP spans roughly 190,929 hectares and hosts the high-grade Arctic polymetallic deposit and the Bornite carbonate replacement deposit.
In May, Trilogy's Arctic project was added to the US government's FAST-41 program, which is designed to enhance coordination among federal agencies and speed up permitting for major infrastructure and critical minerals projects.
The most recent technical report outlines a 13-year mine life with average annual payable production of 149 million lb of copper and 173 million lb of zinc. The proposed operation would also yield 26 million lb of lead, 32,538 oz of gold and 2.8 million oz of silver per year.
Trilogy expects the federal permitting process to be completed in late 2028.
The funding will support exploration and development at the Upper Kobuk Mineral Projects (UKMP) in northwestern Alaska. The properties are held by Ambler Metals, a 50/50 joint venture between Trilogy and Australian miner South32.
Trilogy and South32 are expected to share the proceeds and have committed to reinvesting the funds into the UKMP. As a result of the transaction, South32's direct ownership in Trilogy has been diluted to 6% from 10.7%.
The UKMP spans roughly 190,929 hectares and hosts the high-grade Arctic polymetallic deposit and the Bornite carbonate replacement deposit.
In May, Trilogy's Arctic project was added to the US government's FAST-41 program, which is designed to enhance coordination among federal agencies and speed up permitting for major infrastructure and critical minerals projects.
The most recent technical report outlines a 13-year mine life with average annual payable production of 149 million lb of copper and 173 million lb of zinc. The proposed operation would also yield 26 million lb of lead, 32,538 oz of gold and 2.8 million oz of silver per year.
Trilogy expects the federal permitting process to be completed in late 2028.
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Unit:RMB/mmt
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Unit: mt
