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VANCOUVER, BC /ACCESSWIRE/October 4, 2022/ Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) (“Northern Dynasty” or the “Company” or “NDM”) advises that a Binding Letter has been submitted to the Environmental Protection Agency (“EPA”) by the State of Alaska, and a second letter signed by a total of 14 states, was submitted to protest the EPA’s overreach with the revised Pebble Project Determination Proposal in Southwest Alaska.
The State of Alaska has submitted a strongly worded letter to the EPA detailing its deep concerns about the EPA’s actionsfor reasons such as:
“It diminishes the importance of resource development to Alaska and its people. It also ignores the state’s ability – and history – to ensure the protection of its own fisheries resources through of the state permit system&Ensuring Alaska’s ability to develop its resources, was a major concern for the state and Congress during negotiations on statehood&In the unlikely event of its validity, the exercise of this veto would constitute a regulatory grab, for which compensation, in the billions, is due.”
The full letter can be viewed at the following link: https://www.regulations.gov/comment/EPA-R10-OW-2022-0418-0814
Fourteen states (Alaska, Arkansas, Idaho, Indiana, Kansas, Kentucky, Louisiana, Montana, Nebraska, South Carolina, Texas, Utah, West Virginia, and Wyoming) submitted a letter opposing Region 10’s proposed decision. from the EPA, calling it an unprecedented abuse of his perceived authority and warning of its implications for the future. The strongly worded letter noted that,
“If finalized, it would impose a blanket ban on all future similar mining projects over an area of 309 square miles, which is 23 times the size of the proposed project’s footprint and includes land owned by the State of Alaska. This veto sets a dangerous precedent and effectively creates a wildcard 404(c), playable at will to stop projects. Such power introduces deep uncertainty into the 404 authorization process and, by extension, the investment climate; and undermines steps taken by Congress and President Biden to reduce the impact of our nation’s mineral dependence on other countries, like China, in pursuit of our own renewable energy economy.”
The full letter can be viewed at the following link: https://www.regulations.gov/comment/EPA-R10-OW-2022-0418-0810
“If the EPA’s revised ruling proposal is enacted, no permit applications may be submitted, by anyone, to mine in the 309-square-mile area that encompasses the Pebble deposit, essentially transforming the largest deposit in the world much-needed copper, gold, silver, molybdenum and rhenium in another de facto park,” said Ronald Thiessen, President and CEO of Northern Dynasty. another park. He needs full-time jobs, an improved standard of living for his Southwest Alaskans, and tax revenue for the future benefit of his people. And the United States of America desperately needs a domestic supply of its own metal to successfully transition to a green economy. Additionally, this EPA action is in direct opposition to the Alaska National Interest Lands Conservation Act (“ANILCA”) and also sterilizes the lands of Native Village Corporations in the area. The EPA is bad for Alaska, bad for the region, and bad for the country because Pebble’s final environmental impact statement concluded that Pebble’s development is not a choice between mining or rather, fishing is a process that will allow Alaskans to benefit from both the mine and the fishery. »
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mining exploration and development company based in Vancouver, Canada. Northern Dynasty’s principal asset, held through its wholly owned Alaska-based U.S. subsidiary, Pebble Limited Partnership, is a 100% interest in a contiguous block of 1,840 mining claims in southwestern Alaska, including the Pebble deposit, located 200 miles from Anchorage and 125 miles from Bristol Bay. The Pebble Partnership is the proponent of the Pebble Project, an initiative to develop one of the world’s most important mineral resources.
For further details on Northern Dynasty and the Pebble Project, please visit the company’s website at www.northerndynastyminerals.com or contact Investor Services at (604) 684-6365 or in North America at 1- 800-667-2114. View Canadian public filings at www.sedar.com and US public filings at www.sec.gov.
Ronald W. Thiessen
President and CEO
US Media Contact:
Dan Gagnier, Gagnier Communications (646) 569-5897
Forward-looking information and other cautionary factors
This release contains certain statements that may be deemed “forward-looking statements” under the United States Private Securities Litigation Reform Act of 1995 and under applicable provisions of Canadian provincial securities laws. All statements contained in this release, other than statements of historical fact, that address the licensing, development and production for Project Pebble are forward-looking statements. These include statements regarding (i) the timing of the appeal process and the ability to successfully appeal the Negative Record of Decision (“ROD”) and obtain the issuance of a Positive ROD by the USACE, (ii) political and public support for the permitting process, (iii) the Pebble Project’s ability to ultimately obtain all required federal and state permits, (iv) future metal prices, including the price of copper, (v) proper sizing and derisking of the Pebble project, (vi) design and operating parameters of the mining plan for the Pebble project, including capital and operating costs projects, (vii) the exploration potential of the Pebble project, (viii) the future demand for copper and gold, (ix) the potential addition of partners in the Pebble project, (x) if the license is finally obtained , the ability to demonstrate that the Pebble Project is commercially viable, (xi) the process of determining proposal of EPA under the Clean Water Act and the impact of this process on the ability of the Pebble Partnership to develop the Pebble Project, and (xi) NDM’s ability and timing to develop the Pebble Project . Although NDM believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements should not be construed as guarantees that the Pebble Project will obtain all required governmental and environmental permits, establish the commercial feasibility of the project Pebble Project, obtain the required funding or develop the Pebble Project.
Forward-looking statements are necessarily based on a number of factors and assumptions which, although considered reasonable by NDM as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Assumptions used by NDM in making forward-looking statements include the following assumptions, all of which are subject to risks (i) the Pebble Project will ultimately obtain all required environmental and other permits and land use and other licenses, ( (ii) any feasibility studies prepared for the development of the Pebble Project will be positive, (iii) NDM’s Mineral Resource estimates will not change, and NDM will be successful in converting Mineral Resources into Mineral Reserves, (iv) NDM will be able to to establish the commercial feasibility of the Pebble Project, (v) NDM will be able to obtain the necessary financing to develop the Pebble Project, and (vi) any action taken by the EPA under the proposed decision will ultimately not be successful to restrict or prohibit the development of the Pebble project.
The likelihood of future mining at the Pebble Project is subject to a large number of risks and will require the achievement of a number of technical, economic and legal objectives, including (i) the current mine plan may not reflect the final mining plan for the Pebble Project, (ii) obtaining all necessary mining and construction permits, licenses and approvals without undue delay, including without delay due to third party opposition or changes in government policies, (iii) the finalization of the mining plan for the Pebble Project, (iv) the completion of feasibility studies demonstrating that all mineral resources of the Pebble Project can be mined economically, ( (v) the completion of all necessary engineering studies for the mining and processing facilities, (vi) the ability of NDM to secure a development partner for the Pebble project, and (vii) the r NDM’s disappointment of significant additional funding to fund these objectives as well as mine construction funding, which funding may not be available to NDM on a regular basis. acceptable terms or on any terms. NDM is also subject to the specific risks inherent in mining activity as well as general economic and business conditions, such as the current uncertainties regarding COVID-19. Investors should also consider the risk factors identified in its Annual Information Form for the fiscal year ended December 31, 2021, as filed on SEDAR and included in the Company’s Annual Report on Form 40-F filed by the Company with the SEC on EDGAR, and the Company’s MD&A for the fiscal year ended December 31, 2021, as filed on SEDAR and EDGAR, for a discussion of risks that could affect our forward-looking statements.
The National Environment Policy Act’s Environmental Impact Assessment process requires that a comprehensive “Alternatives Assessment” be undertaken to consider a wide range of development alternatives, the final project design and operating parameters of the Pebble project and associated infrastructure may vary significantly from those currently contemplated.
For further information about the Company, investors should consult the Company’s filings with the United States Securities and Exchange Commission at www.sec.gov and the filings in its home jurisdiction which are available at www.sedar.com
THE SOURCE: Northern Dynasty Minerals Ltd.
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