US stock market, Oct. 7 -- US-listed Trilogy Metals witnessed a massive rally in pre-market trading on Tuesday, October 7, after the White House said it would acquire a 10% stake in the Vancouver-based miner.

In a press release on Monday, the White House said that the US government is announcing a partnership with Trilogy Metals, investing $35.6 million to support mining exploration in Alaska's Ambler Mining District.

This investment makes the US government a 10% shareholder in Trilogy Metals and includes warrants to purchase an additional 7.5% of the company, the release added.

The move comes as part of as part of the Trump administration's push to secure domestic supplies of critical minerals.

Following this update, the Canadian min...