Seeking Alpha

Northern Dynasty -33% as EPA starts process that could restrict Pebble Mine

  • In another blow to Northern Dynasty (NAK) and its Pebble Mine project in Alaska, the EPA says it is taking initial steps toward restricting or even prohibiting development of the proposed mine that could be one of the world's largest copper sources, though no final decision has been made.
  • The EPA says Pebble Mine poses a serious risk to the salmon fisheries and native tribes in the Bristol Bay area, and it plans to use a little-used authority under the Clean Water Act to protect the fisheries, which produces about half the world's wild sockeye salmon.
  • NAK shares fell -33% in regular trading today on word of the EPA announcement.
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Comments (5)
  • satzclock
    , contributor
    Comments (38) | Send Message
     
    I have yet to read someone who explains the politics of this all the way down to the bottom, the real player in the tourism industry and his connections.

     

    I guess some things need to remain behind the scenes.
    1 Mar 2014, 02:58 AM Reply Like
  • beaudelaire70
    , contributor
    Comment (1) | Send Message
     
    it's sad that you posted this important information after the close.You are not very reliable
    1 Mar 2014, 03:23 AM Reply Like
  • Rope a Dope
    , contributor
    Comments (596) | Send Message
     
    You should consider subscribing to the Dow Jones Business Wire or a DOW News Feed; you could have received this 24 minutes earlier.
    1 Mar 2014, 05:08 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    Native tribes would make more money opening a casino.

     

    Worked for all the others.
    2 Mar 2014, 12:05 AM Reply Like
  • Gumby
    , contributor
    Comments (2649) | Send Message
     
    The EPA is going to restrict not prohibit the development of the Pebble deposit, because the eastern underground section of the deposit is richer than the much larger western open pit section.
    Click http://bit.ly/SUWJmK You will understand why the EPA is alarmed about the full proposal which is rather unrealistic even though if the price of copper goes up to $6 or higher a pound or so. The western lower grade open pit method can still be permitted way out in the future possibly 30 years later or so depending on the price of copper high enough to justify far stricter regulations for the open pit method to ensure that nothing goes down to the salmon fishery in Bristol Bay or Cook Inlet either way.
    12 May 2014, 07:11 PM Reply Like
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