The Trump administration on Monday announced two major steps aimed at boosting domestic access to critical minerals, including reversing a Biden-era decision and taking a stake in a Canadian mining company.
President Donald Trump said he signed an executive order to overturn President Joe Biden’s decision to block construction of a 211-mile access road to Alaska's Ambler mining district. The road is considered key to unlocking U.S. reserves of copper and other essential minerals.
"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 during the signing ceremony in the Oval Office.
Alongside the executive order, the White House announced a $35.6 million investment in Trilogy Metals, a Canada-based company potentially developing part of the Ambler district. The deal gives the U.S. a 10% equity stake, with warrants to purchase another 7.5%.
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Biden had blocked the road in 2024 over his Interior Department’s concerns that mining could threaten caribou and fish populations that provide subsistence to dozens of native communities.
The move is part of Trump’s broader push to reduce U.S. reliance on China for vital materials across industries such as energy, semiconductors and defense.
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Last month, the Department of Energy restructured a deal with Lithium Americas to receive penny warrants for a 5% stake in the company and warrants for a 5% economic stake in the Thacker Pass lithium project joint venture with General Motors.
In August, the U.S. government acquired a 9.9% stake in chipmaker Intel through a warrant and common stock agreement worth about $8.9 billion.
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The Pentagon invested $400 million of preferred stock in MP Materials in July to build an end-to-end U.S. rare-earth magnet supply chain. The company owns the only operational rare earth mine in the U.S., located at Mountain Pass, California.
