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Northern Dynasty Minerals Ltd
Symbol NDM
Shares Issued 508,301,665
Close 2020-11-25 C$ 0.51
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FP/wire say permit for Dynasty's Pebble mine denied

2020-11-26 07:10 ET - In the News

The Financial Post reports in its Thursday, Nov. 26, edition that Northern Dynasty Minerals' Pebble gold mine in Alaska was dealt a potentially lethal blow after the U.S. Army Corps of Engineers rejected a permit for the project Wednesday. A Bloomberg dispatch to the Post reports that the proposed mine would tap one of the world's largest undeveloped copper and gold deposits, has been dogged by protests for years, as conservationists warn industrial mining operations near Bristol Bay threaten a flourishing sockeye salmon fishery. The Army Corps issued a record of decision denying Pebble's permit, after determining the project "is contrary to the public interest," said Col. Damon Delarosa, the agency's Alaska district commander. In August, the Army Corps concluded the mining plan from Northern Dynasty "would likely result in significant degradation of the environment," and the agency demanded a mitigation plan to offset the project's effects on nearby wetlands. Northern Dynasty's subsidiary Pebble LP submitted the mitigation plan earlier this month, though the details were not released to the public. Pebble head John Shively laments "the loss of economic opportunities for people living in the area."

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