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Australia-based South32 and Canada’s Trilogy jointly own the Ambler Metals project in northwest Alaska, which includes deposits of copper, zinc, silver and other metals.

The metals in the Ambler deposits are critical for energy infrastructure, modern technology and American national security, South32 said in a statement.

“We see great value in the U.S. government’s intention to develop the Ambler Mining District,” said Graham Kerr, South32’s chief executive.

It will also issue a call option for the Defense Department to buy more shares in Trilogy from South32 once a controversial 211-mile access road to the minerals-rich Ambler region is built.

South32’s 50% stake in the Ambler Metals joint venture isn’t affected by the deal.