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Thu, Jan. 14, 2:59 PM
- The EPA’s independent inspector general finds no evidence of bias or predetermination in the agency’s effort to review the potential impacts of Northern Dynasty Minerals' (NAK -11.9%) proposed Pebble mine in Alaska.
- The inspector general says an EPA employee may have acted inappropriately in helping tribes submit a petition to stop the mine, though the petition was not initially successful.
- The report marks a major step in a years-long fight over the potential mine that has been subject to calls of federal overreach by the company; NAK calls the inspector general report a "whitewash."
Oct. 8, 2015, 6:48 PM
- Northern Dynasty Minerals' (NYSEMKT:NAK) proposed Pebble mine in Alaska never received a fair hearing at the EPA, which vetoed what could have been the largest U.S. copper and gold mine before NAK could file proper permits or the Army Corps of Engineers could evaluate the project, according to a report released this week by former Secretary of Defense William Cohen.
- Cohen says the EPA has authority to issue a pre-emptive veto - although the agency had never done so in the 43-year history of the Clean Water Act - but that the EPA’s decision to ignore regular procedure led to basic flaws in science and procedure, making a fair evaluation impossible.
- The Pebble Partnership is suing the EPA over what it says is an abuse of the agency's regulatory authority.
Sep. 25, 2014, 10:27 AM
- Northern Dynasty Minerals (NAK +3.8%) reports the U.S. federal court in Alaska has said it will not rule on the EPA's attempt to use a regulatory provision to block Pebble Mine from being built until at least Jan. 2, 2015, and that the EPA would not to attempt to advance its regulatory process using the Clean Water Act until the date set by the judge.
- The EPA is trying to protect the area’s salmon fisheries in Bristol Bay from the risks posed by large-scale mining at the Pebble deposit, while the mine's developers say the agency’s study is biased.
Aug. 5, 2014, 7:59 AM
- The EPA is asking a federal judge to dismiss as premature a lawsuit by the Northern Dynasty-led (NYSEMKT:NAK) group behind the proposed Pebble Mine.
- In a court filing, EPA attorneys say the agency has not made a final determination yet on potential restrictions on development on the Pebble deposit.
- The Pebble partnership sued EPA earlier this year, alleging the agency had exceeded its authority by invoking a process through which it could restrict or prohibit development of the Pebble deposit before the project has gone through permitting.
Jul. 18, 2014, 2:44 PM
- The EPA proposes restrictions on mining activity at Northern Dynasty Minerals' (NAK -5.9%) Pebble Mine site in Alaska's Bristol Bay to protect one of the world's largest salmon fisheries.
- The agency's draft rule under the Clean Water Act would limit dredging and filling related to the extraction of copper and gold at the proposed mine, which the EPA has said could have "significant and irreversible negative impacts" on the region.
- Pebble Partnership CEO Tom Collier says the company likely would file for a permit with the Army Corps once it gets another investor on board, but admits the latest EPA proposed restrictions won't help his pursuit.
May 22, 2014, 3:37 PM
- Northern Dynasty Minerals (NAK +3.6%) says it has asked the U.S. District Court in Alaska to stop the EPA from possibly blocking development of the Pebble copper-gold project in Alaska before the company could even apply for a permit.
- NAK maintains that the EPA can veto some permits but cannot act before a company actually seeks a permit, and doing so would violate Alaska's legal right to develop mineral resources.
- An EPA study released in January said the mine could have "significant and irreversible negative impacts" on Alaska's Bristol Bay region, and in February began a rarely used process that could lead to rejection of the proposed mine, which could be one of the world's largest copper mines.
Apr. 7, 2014, 9:53 AM
- Rio Tinto (RIO +0.2%) says it will gift its 19.1% stake in Northern Dynasty Mining (NAK -3.5%), which owns the Pebble mine in Alaska, to two Alaskan charities.
- RIO says it started a strategic review of its stake in NAK last year and has determined the Pebble project, a proposed open-pit copper and gold mine, doesn’t fit with its strategy.
- NAK’s ~$5B project has faced numerous hurdles, most recently in February when the EPA said the project poses a serious risk to the salmon fisheries and native tribes in the area.
Mar. 3, 2014, 12:45 PM
Feb. 28, 2014, 5:54 PM
- 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.
Jan. 15, 2014, 2:26 PM
- An EPA report indicates the Pebble copper and gold mine in Alaska's Bristol Bay region could have devastating effects on the world's largest sockeye salmon fishery and adversely affect Alaska Natives.
- The report says up to 94 miles of streams would be destroyed in just the build-out phase of the project, including losses of 5-22 miles of streams known to provide salmon spawning and rearing habitat; up to 5,350 acres of wetlands, ponds and lakes also would be lost due to the mine footprint.
- The agency says it drew on a preliminary plan published by Northern Dynasty Minerals (NAK), the sole owner of the project after its major partner pulled out last year.
Dec. 23, 2013, 12:46 PM
Dec. 23, 2013, 11:35 AM| Dec. 23, 2013, 11:35 AM
Dec. 13, 2013, 2:52 PM
- Northern Dynasty Minerals (NAK +11.6%) exercises its right to acquire 100% of Anglo American's (AAUKF, AAUKY) interest in the Pebble copper/gold/molybdenum project in Alaska.
- NAK, which has partnered with Anglo for six years, will now go it alone and have the full benefit of the cash spent on the project - $556M so far, NAK says.
- NAK says a final decision on permit filing for the controversial project would be made in 2014.
Oct. 2, 2013, 12:47 PM
Sep. 18, 2013, 11:35 AM
- Alaska officials and Northern Dynasty Minerals (NAK -1%) are putting the best face on the future of the Pebble copper and gold project even without its heavyweight financial backer, Anglo American (AAUKF.PK, AAUKY.PK), which pulled out on Monday.
- Pebble is "a huge, valuable asset" for Alaska, NAK CEO Ron Thiessen says, adding that he remains confident the mine will be built within the next 10 years; " I would suspect there are companies out there that are still prepared to do a transaction with us on Pebble."
- NAK shares have plunged by a third since the Monday announcement.
Sep. 16, 2013, 12:46 PM
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