U.S. Government Completes Strategic Investment in Trilogy Metals, Supporting the Bornite Copper-Cobalt Project

Published: Sep 14, 2026 09:17

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According to Trilogy Metals on September 11, the U.S. government has completed its previously announced US$35.6 million strategic equity investment, giving it an approximately 10% stake in the company.

The proceeds will be used to advance exploration and development of the Upper Kobuk Mineral Projects (UKMP) in Alaska. The portfolio includes the high-grade Arctic polymetallic project and the Bornite copper-cobalt project, both being advanced by Ambler Metals, a joint venture between Trilogy Metals and South32.

Bornite hosts copper and cobalt resources and forms part of the U.S. strategy to strengthen domestic critical mineral supply chains. Trilogy Metals said the investment will provide additional funding support for exploration, engineering studies and permitting activities.

As the U.S. continues to promote domestic critical mineral development, government backing for the Bornite copper-cobalt project could accelerate the development of non-DRC cobalt resources in North America and improve supply diversification for key battery metals.

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