Shares of Northern Dynasty Minerals (NYSEMKT:NAK) are currently extremely overvalued due to the regulatory, logistical and economic problems regarding their only mine. The next essential step for Northern Dynasty is to partner with a larger company in order to develop the Pebble mine and if you factor in all of the roadblocks the mine still faces, it is unlikely they will be able to find a partner company.
Once Scott Pruitt was appointed as EPA administrator it was only a matter of time when the agency's lawsuit against the Pebble prospect would get dropped. So when the announcement came two weeks ago that the Trump EPA had settled with Northern Dynasty, I wasn't too surprised. Deeply dismayed, yes. How disappointing that the voice of science is silenced; how profoundly sad that this action in turn muffles the voice of Alaskan Natives, commercial fishermen and local environmentalist and business owners.
As local residents and business owners we are extremely upset about the recent settlement between the Environmental Protection Agency and the Pebble Limited Partnership that began rolling back the proposed Clean Water Act protections for our salmon and jobs in Bristol Bay.
In May, President Trump’s EPA settled the suits, reversing Obama-era efforts to prevent development. Parent company Northern Dynasty Minerals plans to apply for a federal mining permit, a process that will likely take years.
DSC disagrees with the decision by EPA Administrator Scott Pruitt to settle the lawsuit against Northern Dynasty Minerals – a Canadian company that proposed the controversial Pebble Mine project in Bristol Bay, Alaska. The settlement reverses previous efforts to prevent progress of the extrication of a massive undeveloped ore deposit in Bristol Bay and to protect the pristine waters and wildlife of the area.
Sportsmen and business owners throughout the Bristol Bay region and Alaskans remain steadfast in their opposition to the proposed Pebble Mine despite today’s announcement that the U.S. Environmental Protection Agency (EPA) and the Pebble Partnership have reached a settlement agreement.
Bristol Bay leaders are outraged by the Pebble Limited Partnership and Environmental Protection Agency’s (EPA) settlement concerning the proposed Clean Water Act protections for the Bristol Bay watershed.