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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.
Northern Dynasty Minerals Ltd. has submitted a request for appeal to the US Army Corps of Engineers regarding a negative Record of Decision (ROD) on its Pebble Project. The ROD, issued on November 25, 2020, denied a key permit under the Clean Water Act, citing non-compliance with the compensatory mitigation plan. Despite the final Environmental Impact Statement, which reported minor ecological effects, the Pebble Partnership contests the findings of significant degradation and the ROD's conclusions, asserting they are legally unfounded. The appeal process should conclude within 90 days.
Northern Dynasty Minerals Ltd. (NAK) announced that the State of Alaska, led by Governor Mike Dunleavy, will appeal the US Army Corps of Engineers' (USACE) denial of a key permit for the Pebble Project. Governor Dunleavy criticized the USACE's November 25, 2020 decision as flawed and warned of its harmful implications for Alaska's resource development. The appeal aims to challenge the denial based on procedural and substantive grounds, asserting that mitigation requirements are unprecedented and inconsistent with state policy. Northern Dynasty expects the appeal to be filed within two weeks.
MoSys, Inc. (NASDAQ:MOSY) has announced a partnership with Arrow Electronics to distribute its QPR Memory and Bandwidth Engine memory products for use with Intel and Xilinx FPGAs. This collaboration aims to enhance system performance by eliminating device bottlenecks, reducing power consumption, and optimizing board space. MoSys claims its memory solutions can offer up to 8 times the density of traditional QDR memory while significantly lowering costs. A webinar is set for February 3, 2021, to showcase how these products can simplify design processes.
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.
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