Northern Dynasty: Alaska and 13 Other States Strongly Oppose the EPA Proposed Veto of Pebble
Northern Dynasty: Alaska and
13 Other States Strongly
Oppose the EPA Proposed Veto
of Pebble
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 compelling letter was 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 protesting against the EPA's overreach with the revised Proposed
Determination of the Pebble Project in Southwest Alaska.
The State of Alaska has submitted a strongly-worded letter to the EPA
detailing its deep concerns about the EPA's actions, for reasons including:
"It diminishes the importance of resource development to Alaska and its people. It also
disregards the State's ability to - and history of - ensuring protection of its own fishery
resources through the State's permitting system…Ensuring Alaska's ability to develop its
resources, was a key concern to the State and Congress during statehood
negotiations…In the unlikely event of its validity, exercise of this veto would constitute
a regulatory taking, for which compensation, in the billions, is due."
The entire 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 in opposition to the EPA Region 10's
proposed determination, calling it an unprecedented abuse of its perceived
authority and warning about its implications for the future. The strongly-
worded letter noted that,
"If finalized…it would impose a blanket prohibition on all future, similar mining projects
over a 309-square-mile area, which is 23 times the size of the proposed project
footprint and comprises lands owned by the State of Alaska. This veto sets a dangerous
precedent…effectively creating a 404(c) wild card, playable at whim to stop projects.
Such a power introduces profound uncertainty into the 404 permitting process and, by
extension, the investment climate; and undermines steps taken by Congress and
President Biden to lessen our Nation's mineral dependence on other countries, like
China, in pursuit of a renewable energy economy of our own."
The entire letter can be viewed at the following
link: https://www.regulations.gov/comment/EPA-R10-OW-2022-0418-0810
"If the EPA's revised Proposed Determination is enacted, then no permit application can
be submitted, by anyone, to mine in the 309-square mile area which encompasses the
Pebble deposit, basically turning the world's largest deposit of much needed copper,
gold, silver, molybdenum and rhenium into yet another de facto park," said Ronald
Thiessen, Northern Dynasty President and CEO. "Alaska doesn't need another park. It
needs full-time jobs, improved living standards for its residents in southwestern Alaska,
and tax revenues for the future benefit of its people. And the United States of America
desperately needs a domestic supply of its own metal to successfully transition to a
green economy. Further, this action by the EPA is in direct opposition to Alaska National
Interest Lands Conservation Act ("ANILCA") and effectively sterilizes Native Village
Corporations lands in the area as well. This action by the EPA is bad for Alaska, bad for
the region and bad for the country as the Final Pebble Environmental Impact Statement
concluded development of Pebble is not a choice between mining or fishing, rather it's a
process which will allow Alaskans to benefit from both the mine and the fishery."
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development company based in
Vancouver, Canada. Northern Dynasty's principal asset, owned through its wholly
owned Alaska-based U.S. subsidiary, Pebble Limited Partnership, is a 100% interest in a
contiguous block of 1,840 mineral claims in Southwest 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 within North America at 1-800-667-2114. Review Canadian public
filings at www.sedar.com and U.S. public filings at www.sec.gov.
Ronald W. Thiessen
President & CEO
U.S. Media Contact:
Dan Gagnier, Gagnier Communications (646) 569-5897
Forward Looking Information and other Cautionary Factors
This release includes 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 in
this release, other than statements of historical facts, which address permitting,
development and production for the Pebble Project 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 secure the issuance
of a positive ROD by the USACE, (ii) the political and public support for the permitting
process, (iii) the ability of the Pebble Project to ultimately secure all required federal
and state permits, (iv) future metals prices, including the price of copper, (v) the right-
sizing and de-risking of the Pebble Project, (vi) the design and operating parameters for
the Pebble Project mine plan, including projected capital and operating costs, (vii)
exploration potential of the Pebble Project, (viii) future demand for copper and gold,
(ix) the potential addition of partners in the Pebble Project, (x) if permitting is ultimately
secured, the ability to demonstrate that the Pebble Project is commercially viable, (xi)
the EPA's Proposed Determination process 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) the ability and timetable of NDM to develop the Pebble Project. Although NDM
believes the expectations expressed in these forward-looking statements are based on
reasonable assumptions, such statements should not be in any way be construed as
guarantees that the Pebble Project will secure all required government and
environmental permits, establish the commercial feasibility of the Pebble Project,
achieve the required financing or develop the Pebble Project.
Forward-looking statements are necessarily based upon a number of factors and
assumptions that, while 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 to develop 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
all land use and other licenses, (ii) any feasibility studies prepared for the development
of the Pebble Project will be positive, (iii) NDM's estimates of mineral resources will not
change, and NDM will be successful in converting mineral resources to mineral reserves,
(iv) NDM will be able to establish the commercial feasibility of the Pebble Project, (v)
NDM will be able to secure the financing required to develop the Pebble Project, and
(vi) any action taken by the EPA in connection with the Proposed Determination will
ultimately not be successfully in restricting or prohibiting 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 achievement of a number of technical, economic and legal
objectives, including (i) the current mine plan may not reflect the ultimate mine plan for
the Pebble Project, (ii) obtaining 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) finalization of the mine plan for the
Pebble Project, (iv) the completion of feasibility studies demonstrating that any Pebble
Project mineral resources that can be economically mined, (v) completion of all
necessary engineering for mining and processing facilities, (vi) the ability of NDM to
secure a partner for the development of the Pebble Project, and (vii) receipt by NDM of
significant additional financing to fund these objectives as well as funding mine
construction, which financing may not be available to NDM on acceptable terms or on
any terms at all. NDM is also subject to the specific risks inherent in the mining
business as well as general economic and business conditions, such as the current
uncertainties with regard to COVID-19. Investors should also consider the risk factors
identified in its Annual Information Form for the 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 Management Discussion and
Analysis for the year ended December 31, 2021, as filed on SEDAR and EDGAR, for a
discussion of the risks that may impact our forward-looking statements.
The National Environment Policy Act Environmental Impact Statement process requires
a comprehensive "alternatives assessment" be undertaken to consider a broad range of
development alternatives, the final project design and operating parameters for the
Pebble Project and associated infrastructure may vary significantly from that currently
contemplated.
For more information on the Company, Investors should review the Company's filings
with the United States Securities and Exchange Commission at www.sec.gov and its
home jurisdiction filings that are available at www.sedar.com
SOURCE: Northern Dynasty Minerals Ltd.