"Former President Biden blocked the federal rights-of-way due to concerns about impacts on Alaska Native tribes' livelihood and wildlife in the remote region. The White House said in a post that Biden "ignored Alaska's economic needs and national security imperatives" in his decision and called the road "vitally important to America's national defense and economic prosperity." By the numbers: The partnership with Trilogy Metals will see the U.S. invest $35.6 million to support mining exploration in the Ambler Mining District, according to the White House."
"The investment in the company includes warrants to purchase an additional 7.5% of the company. "This is something that should have been long operating and making billions of dollars for our country and supplying a lot of energy and minerals and everything else that we are talking about," Trump said at the White House on Monday."
"Tony Giardini, president and CEO of Trilogy Metals, said in a statement the "proposed partnership with the U.S. Government represents a significant milestone" for the firm "and for the development of a secure, domestic supply of critical minerals for America in Alaska." He said the investment that would come from the Department of War "underscores the strategic importance of the Upper Kobuk Mineral Projects in supporting U.S. energy, technology, and national security priorities.""
Federal authorities approved a permit and partnered with Trilogy Metals to develop access to the Ambler Mining District, enabling a 211-mile road to reach copper, cobalt, and gold deposits. A previous administration blocked federal rights-of-way citing impacts on Alaska Native livelihoods and wildlife. The White House characterized the road as essential to economic prosperity and national defense. The U.S. will invest $35.6 million in Trilogy Metals and receive warrants to purchase an additional 7.5% of the company. Company leadership described the partnership as a milestone for securing domestic critical mineral supplies and supporting energy, technology, and national security priorities.
Read at Axios
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