Trump administration invests $35.6 million in Trilogy Metals

In a notable move reflecting shifting economic policies under the Trump administration, the White House announced plans to acquire a 10% stake in Trilogy Metals, a Canadian mining company based in Vancouver. This decision, made public in early October 2025, has seen the company's shares surge dramatically in premarket trading, with stock values tripling after the news broke, reaching $5.69 per share. As a result, the company’s market capitalization approached $1 billion, illustrating a significant confidence boost from investors following this unexpected governmental backing. The acquisition is part of a broader initiative by the U.S. government to strengthen its position in critical mineral industries deemed essential for national security. In recent times, Washington has started taking equity stakes in key sectors to lessen dependence on foreign entities, particularly those in China. Alongside the acquisition of shares, the U.S. government also received warrants to purchase an additional 7.5% stake in Trilogy Metals. This investment aligns with President Trump's policy objectives of reducing reliance on foreign countries for essential resources and enhancing domestic capabilities. Additionally, the move is seen as a resolution to previous regulatory barriers that impeded the development of mining operations in the Ambler mining district of Alaska, where Trilogy operates in a joint venture with Australia-based South32. Trump issued an executive order enabling the construction of an access road to this district, overturning a decision made by the Biden administration in 2024 that had halted the project due to concerns for wildlife and local communities. The new policy aims to accelerate the development of U.S. mineral resources while minimizing regulatory uncertainty, thus promoting economic activity in the region. Some analysts, including a group from the Royal Bank of Canada, have praised this decision, highlighting that it unlocks major constraints to the project's development. The strategic backing from the federal government significantly alters the outlook for the Ambler district project, enhancing its potential profitability and viability as a critical minerals source. Furthermore, this move draws attention due to its socialist implications, as many conservatives have pointed out the shift towards government intervention under Trump's administration, marking a paradigm change in U.S. economic policy towards sectors traditionally governed by market forces.