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.
Pebble Partnership Mining News
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.
Relying on hypotheticals.
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.
They oppose the agency's latest decision, which may block development of the Pebble mine before any permit application has been filed.
The suit says the agency may kill the project before mine plans are finalized or it’s evaluated through the permitting process.
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.
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%.
White House EPA nominee grilled over watershed assessment.