Northern Dynasty stock drops 32% after pact with First Quantum to build giant Alaska copper-gold mine collapses.
Northern Dynasty Mining News
The agency has proposed revoking its 2014 determination banning any large-scale mine in the area where Pebble would be built on the grounds it would damage the region’s key salmon industry.
Northern Dynasty Minerals Ltd. reports that its wholly-owned subsidiary, Alaska-based Pebble Limited Partnership announced today it has received commitments from five prominent Alaskan and national figures to serve as founding members of an Advisory Committee formed to provide independent, external advice as the Pebble Project advances into federal and state permitting.
Donald Trump’s Environmental Protection Agency (EPA) has injected new life into the long-stalled and controversial copper-gold-silver project near Bristol Bay, southwest Alaska.
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.
Rebuttal comes as shareholders launched an investigation over possible false and misleading statements made by the miner about its Pebble copper-gold project in Alaska.
Shares in the Canadian miner behind the stalled Pebble copper-gold project in Alaska nosedived after a report branded the venture as “worthless.”
Northern Dynasty Minerals, parent company of the Pebble mine proponent, disappointed at the narrow scope and limited findings of government probe.
A federal judge has ruled in favour of the Pebble mine project, putting a temporary halt on the U.S. Environmental Protection Agency’s efforts to protect Bristol Bay.
U.S. federal court won't make a final decision until at least January 2, 2015.
Potential problems in the horizon for Seabridge Gold's proposed gold, copper, silver and molybdenum mine in northern British Columbia, just 30 km from the Alaska border.
Legendary mining financier spoke at Sprott Natural Resource Symposium Vancouver.
They oppose the agency's latest decision, which may block development of the Pebble mine before any permit application has been filed.
In reality, little salmon habitat exists at the Pebble site.
The suit says the agency may kill the project before mine plans are finalized or it’s evaluated through the permitting process.
Long before any scientific review of the Alaska project, which has the potential to become the world's largest copper and gold mine, was even announced.
Rio becomes the second large diversified miner, after Anglo American, to back out of the project in less than seven months.
On Friday that US Environmental Protection Agency blocked the issuance of a key permit, for the time being.
Northern Dynasty responds to EPA's announcement.
Northern Dynasty lost 32% on its share price Friday.
Chief of staff at the US Department of the Interior during the Clinton era.
Mine proponents have called the EPA's review an attempted 'pre-emptive veto.'
Through a subsidiary, Rio owns 19% of Northern Dynasty, making it the largest single investor.
Northern Dynasty share price gains 12%.