Welcome to our dedicated page for Northern Dynasty Minerals, Ltd. news (Ticker: NAK), a resource for investors and traders seeking the latest updates and insights on Northern Dynasty Minerals, Ltd. stock.
Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) is a Canadian mineral exploration and development company headquartered in Vancouver, BC. The company's primary asset is the Pebble Project, located in Southwest Alaska. This significant endeavor focuses on developing a vast deposit rich in copper, gold, molybdenum, and silver into a modern mining operation.
The Pebble Project aims to harness these valuable mineral resources, located approximately 200 miles from Anchorage and 125 miles from Bristol Bay, through its wholly-owned Alaska-based subsidiary, the Pebble Limited Partnership (PLP). This project holds 1,840 mineral claims and represents a major opportunity for economic growth, job creation, and securing critical minerals essential for technological advancements and national security.
Northern Dynasty has recently faced legal and regulatory challenges, including an EPA veto and the subsequent denial of a permit application by the U.S. Army Corps of Engineers (USACE). Despite these setbacks, the company remains committed to overturning these decisions through extensive legal actions. The company argues that the EPA's veto and the USACE's denial were politically motivated and contrary to the scientific findings of the Final Environmental Impact Statement (FEIS).
In financial news, Northern Dynasty recently closed a convertible notes offering, raising an aggregate principal amount of US$15,000,000, and a non-brokered private placement, garnering CAD$3,422,000. These funds are earmarked for advancing the Pebble Project responsibly.
For more detailed and up-to-date information, investors can visit the company's website or review public filings available on SEDAR and SEC.
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Northern Dynasty Minerals Ltd. aims to challenge the US Army Corps of Engineers' (USACE) rejection of its Compensatory Mitigation Plan for the Pebble Project. The Pebble Partnership, a subsidiary, plans to submit a request for appeal in January 2021, arguing that the USACE's findings were legally baseless and unprecedented in Alaska. The Pebble Project proposes extensive mitigation measures, including a 112,445-acre conservation area. The company claims that USACE's rejection was procedural and lacked adequate opportunity for response.
Northern Dynasty Minerals Ltd. reported that its subsidiary, Pebble Limited Partnership, is preparing a request for appeal concerning the US Army Corps of Engineers' negative Record of Decision for the Pebble Project. The ROD denied a dredge and fill permit due to non-compliance with the Clean Water Act. The Pebble Partnership has 60 days to appeal, asserting that the decision contradicts the Environmental Impact Statement findings. Key economic forecasts for the project include significant tax revenues and local employment opportunities, which officials believe will benefit the Bristol Bay region and Alaska.
Northern Dynasty Minerals Ltd. announced that its subsidiary Pebble Limited Partnership's application for federal permits under the Clean Water Act was denied by the US Army Corps of Engineers. The Corps found the project's compensatory mitigation plan non-compliant, claiming it is not in the public interest. Northern Dynasty criticized the decision as politically motivated and plans to appeal. They emphasized the project's potential socioeconomic benefits for Bristol Bay and the need for domestic mineral production, especially in light of national security concerns.
Northern Dynasty Minerals Ltd. has submitted a Compensatory Mitigation Plan (CMP) for the Pebble Project to the US Army Corps of Engineers (USACE) ahead of the November 18 deadline. The CMP aims to meet the mitigation requirements outlined by the USACE following a positive Final Environmental Impact Statement (EIS) published in July 2020. The plan is crucial for obtaining a federal Record of Decision necessary for the Pebble Project, which is expected to contribute economically and militarily to the U.S. while adhering to environmental standards.
Northern Dynasty Minerals (NYSE American: NAK) welcomed a recent US government initiative aimed at reducing reliance on foreign critical mineral supplies. The announcement on October 5, 2020, involved a $25 million investment in TechMet Ltd. for nickel and cobalt production, vital to electric vehicle and battery manufacturing. The Executive Order declared a national emergency due to dependence on foreign sources for essential minerals, including rhenium. The Pebble Project in Alaska, which Northern Dynasty owns, is positioned to help address these supply chain vulnerabilities by potentially producing 12,000 kg of rhenium annually, significantly boosting US output.
Northern Dynasty Minerals Ltd. has released a Technical Report on Alaska's Pebble Project, revealing it as the world's largest source of Rhenium. The updated resource estimate shows the Pebble deposit contains 2.6 million kg of Rhenium along with substantial quantities of copper, gold, molybdenum, and silver. Rhenium is crucial for US military and industrial applications, leading to a significant reliance on imports. The project aims to strengthen domestic supply, potentially reducing US import dependence.
Northern Dynasty Minerals Ltd. announced the resignation of Tom Collier, CEO of its subsidiary Pebble Limited Partnership, following controversial comments made about Alaska's elected officials, which were secretly recorded by an environmental group. The company has appointed John Shively, a respected Alaskan leader, as interim CEO during the leadership transition. Northern Dynasty expressed unreserved apologies to Alaskans for the offensive remarks and emphasized its commitment to advancing the Pebble Project through the regulatory process while adhering to high environmental standards.
Northern Dynasty Minerals Ltd. (NYSE American: NAK) will provide updates on its Pebble Project during two upcoming online presentations. The first presentation is on September 15, led by CEO Ron Thiessen, at H.C. Wainwright & Co.’s Global Investment Conference. The second presentation, on September 21, features Tom Collier discussing the Pebble Project at the Gold Forum Americas 2020. The company anticipates receiving a final Record of Decision for the Pebble Project this fall, which aims to coexist with local wildlife while contributing to the economy.
Northern Dynasty Minerals Ltd. (NYSE American: NAK) has responded to a report by short seller J Capital Research, labeling it as misleading and self-serving. The report criticizes the company's Pebble Project in Alaska, claiming it may not be economically viable. CEO Ron Thiessen defended the company, citing previous dismissals of similar accusations and asserting that the project will benefit stakeholders. He highlighted concerns over market manipulation affecting shareholder value, estimated at $500 million, while emphasizing the commitment to secure necessary permits for the Pebble Project's advancement.
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