Tag Archives: Northern Dynasty Minerals Ltd.
State lawsuit claims federal government owes Alaska $700 billion for quashing Pebble mine
The federal government owes Alaska more than $700 billion in compensation for the 2023 Environmental Protection Agency action that blocked development of the massive and controversial Pebble Mine in Southwest Alaska, Gov. Mike Dunleavy’s administration claims in a lawsuit filed in a federal court. The lawsuit, filed Thursday in the U.S. Court of Federal Claims in the District of Columbia, is part of a flurry of legal actions by the state and the mine’s would-be developer that seek to revive the massive copper and gold project. In its complaint filed Thursday with the U.S. Court of Federal Claims, the state cited an estimate for 100 years of production to support the $700 billion figure. And it said Alaska had been depending on Pebble development for its economic future. more, >>click to read<< 09:26
Biden blocks Pebble copper-gold mine in Alaska
The Biden Administration banned the dumping of mining waste near Bristol Bay, Alaska, issuing a decree that thwarts longstanding plans to extract gold, copper and molybdenum because of potential harm to the region’s thriving sockeye salmon industry. The Environmental Protection Agency’s final determination, announced Tuesday, effectively blocks the mine planned by Pebble Limited Partnership as well as future mining of the same deposit in headwaters of Bristol Bay, home to the world’s largest sockeye harvest. Katherine Carscallen, director of Commercial Fishermen for Bristol Bay, called EPA’s final action “surreal,” because it “will finally put an end to the threat of Pebble.” Critics said the decision conflicts with the Biden administration’s commitment to accelerating the deployment of renewable power and electric vehicles that rely on critical minerals. >click to read< 15:54
Canadian investor backs away from Alaska mine project
A Canadian company that was courted as a potential partner in a proposed copper-and-gold mine near one of the world’s largest salmon fisheries in Alaska has backed away from the project.
Northern Dynasty Minerals Ltd., which is seeking to develop the Pebble Mine project in southwest Alaska, said Friday that it was unable to finalize an agreement with First Quantum Minerals Ltd., the potential investor. It was not immediately clear what happened or what this means for the project, which has a permit application pending with the U.S. Army Corps of Engineers. >click to read<10:55
Kerrisdale Capital Slams Northern Dynasty Minerals Ltd – Pebble Mine shares are ‘worthless’
A New York investment firm tore apart claims by the owners of the Pebble mine project that developing the prospect is economically viable in a no-holds-barred report released Feb. 14. Kerrisdale Capital called Vancouver-based Northern Dynasty Minerals Ltd., “worthless” in its 21-page report, contending sources directly involved in evaluating Pebble before Anglo American walked away from the project in 2013, despite spending roughly $500 million on it, said Pebble would cost close to $13 billion to construct, not the $4.7 billion capital cost Northern Dynasty arrived at in its preliminary project assessment. “In the past decade, Northern Dynasty has hired at least two major engineering firms to prepare preliminary feasibility studies of Pebble laying out its economics in detail, yet it has failed to publish their findings — because they were damning,” Kerrisdale alleges. Continue reading the article here 11:27
Northern Dynasty comments on National Marine Fisheries Service status review of Lake Iliamna Seals
Ultimately, whether the Lake Iliamna seals are considered to be a distinct population segment or not, Northern Dynasty is confident that development of the project by the Pebble Partnership will not affect their habitat or their numbers.” continued
