Canada’s Trilogy Metals (TSX: TMQ) (NYSE-A: TMQ) saw its shares surge Friday after US authorities reinstated critical federal permits for a controversial 340-km (211-mile) access road in Alaska’s Ambler mining district.
The Ambler road is seen as vital infrastructure to unlock one of the richest undeveloped copper regions in the world.
Shares rose 15% in New York to $5.97 and 5% in Toronto to C$7.71, boosting the Vancouver-based company’s market cap to C$1.3 billion.
The US Army Corps of Engineers, the Bureau of Land Management, and the Alaska Industrial Development and Export Authority (AIDEA) re-issued the permits following President Donald Trump’s recent order to restore approvals originally granted in 2020 but revoked under the Biden administration in 2024.
The reinstated authorizations include a 50-year right-of-way across federally managed lands, enabling AIDEA to resume road…
