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John Paulson has sold his 8.7% stake in Trilogy Metals Inc., divesting 14.3 million shares in the fourth quarter of 2025. This move follows the announcement that the US government intends to take a 10% stake in Trilogy, which is based in Vancouver and aiming to develop a significant copper and zinc mine in Alaska with South32 Ltd.

The partnership was revealed in October, but the deal is still pending completion. Paulson has been a prominent investor in US mining projects, holding stakes in other companies like Perpetua Resources and Novagold Resources.