As commercial fishermen in Bristol Bay were busy landing salmon, the Trump administration on Tuesday moved to cancel the Environmental Protection Agency's 2014 action that would have blocked development at the Pebble gold and copper prospect in Southwest Alaska.
The Trump administration has taken a key step toward paving the way for a controversial gold, copper and molybdenum mine in Alaska’s Bristol Bay watershed, marking a sharp reversal from President Barack Obama’s opposition to the project.
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.
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) proposed to withdraw the July 2014 Clean Water Act Section 404(c) Proposed Determination that, if finalized, would have applied up-front restrictions mining activities that harm salmon in Alaska’s Bristol Bay watershed.
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.