Experts believe the value of the nation's dawning industry is set to jump from $1.1bn this year to $7.9bn in 2021 on a combination of revised regulatory framework and significant gold and copper reserves.
Permit allows Northern Dynasty to work in the area for the next 12 months, but it includes requirements for state inspections, as well as an unprecedented $2 million guarantee as back stop for exploration clean-up.
In addition to raising costs for miners and delaying certain projects, the focus on the amount of water used by the extraction industry in the region will boost social pressure and anti-mining sentiment, experts say.
Analysts expect BHP to argue that a demerged petroleum business would need to fund offshore growth projects by raising debt. It may also contend that a stand-alone division won’t have the same ability to defer production until oil prices improve.
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