Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
   Rule 13d-1(b)
   Rule 13d-1(c)
   Rule 13d-1(d)




schemaVersion:


SCHEDULE 13G




Comment for Type of Reporting Person:   (1) Based on 172,745,639 common shares outstanding as reported in the 10-Q filed by the Trilogy Metals Inc. (the "Issuer") on July 8, 2026. (2) Pursuant to the terms of a Transaction Agreement dated August 28, 2026, by and between South32 International Investment Holdings Pty Ltd ("South32 International") and the United States Department of Defense, South32 International agreed to sell 8,215,570 common shares of the Issuer to the Investor in a private transaction.


SCHEDULE 13G




Comment for Type of Reporting Person:   (1) Based on 172,745,639 common shares outstanding as reported in the 10-Q filed by the Trilogy Metals Inc. (the "Issuer") on July 8, 2026. (2) Pursuant to the terms of a Transaction Agreement dated August 28, 2026, by and between South32 International Investment Holdings Pty Ltd ("South32 International") and the United States Department of Defense, South32 International agreed to sell 8,215,570 common shares of the Issuer to the Investor in a private transaction.


SCHEDULE 13G



 
South32 Limited
 
Signature:/s/ Claire Tolcon
Name/Title:Company Secretary
Date:08/31/2026
 
South32 International Investment Holdings Proprietary Limited
 
Signature:/s/ Rebecca Healy
Name/Title:Company Secretary
Date:08/31/2026