Oct 24 (Reuters) - Canadian miner Trilogy Metals ( TMQ )
said on Friday key federal permits have been re-issued
for a planned road in northwest Alaska that would support future
mining projects.
U.S.-listed shares of Trilogy Metals ( TMQ ) rose over 8% in
premarket trade.
The permits, granted by U.S. agencies including Alaska
Industrial Development and Export Authority, the Army Corps of
Engineers and the Bureau of Land Management, follow a recent
presidential order to restore approvals originally given in
2020.
The 211-mile (340 km) access road is located in the Ambler
mining district in Alaska which is rich in domestic supplies of
copper and other minerals.
"The road will provide access to a mining district that has
the potential to strengthen the United States' ability to secure
domestic supplies of copper and other critical minerals,"
Trilogy CEO Tony Giardini said.
Earlier this month, the White House had announced a $35.6
million investment in Trilogy Metals ( TMQ ), making the U.S. government
a 10% shareholder in the miner. The investment included warrants
to purchase an additional 7.5% stake.
Trilogy, a key developer in the Ambler district, operates a
joint venture there with Australia's South32 ( SHTLF ).