It’s rare to see a stock soar 200% in a single day, but that’s exactly what Trilogy Metals delivered this week.
Shares of Trilogy Metals (NYSE: TMQ) surged more than 200% this week after the U.S. government took a 10% ownership stake in the Canadian exploration company. The investment, valued at $35.6 million, is part of a strategic effort to bolster domestic access to key materials used in clean energy, defense, and high-tech manufacturing.
The White House confirmed the deal as part of its plan to unlock critical mineral resources in Alaska’s Ambler mining district, an area long known for its rich copper and polymetallic deposits.
The investment follows a decision by President Trump to reverse a previous ban on the Ambler Road project, which had stalled under the prior administration.
In a statement, Trilogy Metals called the federal partnership a sign of “renewed commitment to responsible resource development in Alaska.” The company emphasized that the Ambler district “hosts some of the world’s richest known copper-dominant polymetallic deposits,” including vital minerals such as copper, cobalt, zinc, and lead.
The Ambler Road project, a 211-mile industrial corridor through Alaskan wilderness, has drawn sharp criticism from environmental groups concerned about impacts on ecosystems and local communities. However, the administration has highlighted the project as a key component of securing domestic critical mineral supply chains.
Industry analysts say the U.S. stake in Trilogy Metals underscores Washington’s determination to reduce dependence on Chinese-controlled mineral supply chains, a vulnerability that has come under growing scrutiny. China currently refines around 90% of the world’s rare earth elements, giving it outsized influence over global markets for materials essential to EVs, semiconductors, and renewable infrastructure.
Deals that prioritize national security and domestic resource independence are now officially in-play. And this isn’t just about securing copper; it’s about securing the future tech stack – EVs, defense, and high-end manufacturing.
For investors, the broader U.S. critical minerals space is worth watching as the government moves to strengthen domestic supply chains.
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