Northern Dynasty Minerals (TSX: NDM) has entered active talks with the US Environmental Protection Agency that could end—rather than merely pause—the agency’s 2023 veto of the Pebble copper-gold project in southwest Alaska.
Court filings state that “defendants and [Pebble Limited Partnership] are negotiating to explore a potential settlement” and expect to agree within two weeks on the scope of a new Pebble submission that would drive “any agency reconsideration.”
The parties asked the judge to keep the case on hold until a joint status report due July 17.
CEO Ron Thiessen welcomed the opening, calling the EPA veto “egregious and unsubstantiated.”
“A decision to withdraw this veto would help the US secure a domestic supply of metals like copper, critical for electrification, and rhenium, essential to several military applications.”
A veto reversal would not grant a mining permit outright, but it would strip away the most formidable legal barrier facing the project and allow the company to restart the long-stalled federal permitting process.
The Pebble deposit holds a measured and indicated resource of 57 billion pounds of copper, 71 million ounces of gold, 3.4 million pounds of molybdenum, 345 million ounces of silver, and 2.6 million kg of rhenium—volumes that, on paper, would make the site one of North America’s largest polymetallic assets.
The EPA’s 2023 action rested on concerns that dredging would destroy roughly 100 miles of salmon-bearing streams. Pebble Limited Partnership chief John Shively blasted that assessment as “wildly speculative” and “not supported by any defensible data,” accusing the agency of capitulating to political pressure from the White House.
Shively further argued that blocking Pebble “takes significant tax and royalties from the citizens of Alaska” and “sterilizes Native Village Corporation lands” in violation of the Alaska Native Claims Settlement Act.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
