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Be the first with the news that moves the market- Mining company, Northern Dynasty Minerals Ltd. (TSX:NDM), has seen a case brought against its Pebble Project in Alaska dismissed in US federal court
- A collection of activism groups were contesting the Environmental Protection Agency’s decision to drop its preventative action against the proposed copper and gold mine
- However, last Friday, District Judge Sharon L. Gleason upheld the EPA’s decision and said that the activists had failed to state a sufficient claim
- With the case dropped, the company is continuing to produce the site’s final report, which it will then submit for the project’s final record of decision
- Northern Dynasty Minerals Ltd. (NDM) is up 11.11 per cent, with shares trading for C$0.80 and a market cap of $349.31 million
Northern Dynasty Minerals Ltd (TSX:NDM) has seen a case brought against its Pebble Project in Alaska dismissed in US federal court.
In the middle of last year, the US Environmental Protection Agency (EPA) dropped its preventive action against the company’s proposed copper and gold mine.
After the EPA dropped the action, a collection of activist organisations protested the project and brought legal action to appeal the EPA’s decision.
The activists were protesting the proposed mine’s potential impact on local waterways, as well as the fishing operations that rely on them.
However, last Friday District Judge Sharon L. Gleason upheld the EPA’s decision and said that the activists had failed to state a sufficient claim.
CEO of the project, Tom Collier, believes this result brings the project one step closer to reality.
“We see no reason why this schedule will not be met, especially now that this meritless litigation has been dismissed.
“We firmly believe the project will be developed without harm to the Bristol Bay fishery and for the benefit of the region, especially the communities around Iliamna Lake. Preliminary reports from the Corps of Engineers indicate it can be done responsibly and we look forward their final report this summer,” he said.
On its current schedule, the project would complete construction in 2026 and then operate for 20 years. The mine would be a traditional open-pit operation and produce primarily copper and gold, as well as molybdenum and silver.
Once the final report is completed, it will be submitted for National Environmental Policy approval to obtain its final record of decision.
Northern Dynasty Minerals Ltd. (NDM) is up 11.11 per cent, with shares trading for C$0.80 at 1:03am EST.
