VANCOUVER,
Sept. 26, 2014 /PRNewswire/ -
Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern
Dynasty" or the "Company") reports that U.S. federal court in
Alaska today granted a motion to
dismiss the case by the Pebble Limited Partnership, State of Alaska and Alaska Peninsula
Corporation challenging the U.S. Environmental Protection Agency
("EPA") statutory authority to pre-emptively impose development
restrictions on the Pebble Project prior to the submission of a
proposed development plan. This ruling did not judge the
merits of the statutory authority case, it only deferred that
hearing and judgment until after a final determination has been
made by the EPA.
"The ruling today relates to timing of our
challenge of this pre-emptive authority and in no way decides the
underlying issues," said Pebble Partnership CEO Tom Collier. "We remain very confident in
the merits of this case. Should EPA finalize its proposed
veto restrictions regarding Pebble, we will pursue our claim that
EPA lacks statutory authority to do so at that time."
Northern Dynasty's CEO Ron Thiessen stated, "Today's ruling has nothing
to do with the merits or legality of our position in this case, and
is merely a decision on timing. The court is, in essence, saying
until the EPA makes a final decision you haven't been
affected. As Tom Collier CEO of Pebble Partnership points
out, this decision has simply deferred the case until or if the EPA
makes a negative decision on Pebble Project prior to our filing a
permit under the Clean Water Act."
The Pebble Partnership has a second case pending
in the federal court in Alaska
that charges that EPA has not complied with the Federal Advisory
Committee Act (FACA) in preparing the Bristol Bay Assessment study,
upon which the Section 404(c) regulatory process is largely
based. The FACA case seeks to enjoin EPA from issuing its
final veto. Today's ruling has no bearing on the FACA case.
About the Pebble Project
The Pebble Project is an initiative of the Pebble Limited
Partnership to responsibly develop a globally significant copper,
gold and molybdenum deposit in southwest Alaska into a modern, long-life mine, which
will benefit not only the owner, but the people, culture and
industries of the State of Alaska,
as well as suppliers, consultants and industries in the Lower 48
United States of America.
A 2013 study authored by IHS Global Insight,
entitled The Economic and Employment Contributions of a
Conceptual Pebble Mine to the Alaska and United States Economies found
the Pebble Project has the potential to support 15,000 American
jobs and contribute more than $2.5
billion annually to US GDP over decades of production. The
IHS Global Insight study is available at
www.northerndynasty.com.
The Pebble Project is located 200 miles
southwest of Anchorage on state land designated for mineral
exploration and development. It is situated in a region of rolling
tundra approximately 1,000 feet above sea-level, 65 miles from
tidewater on Cook Inlet and presents favourable conditions for
successful mine site and infrastructure development.
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development company
based in Vancouver, Canada.
Northern Dynasty's principal asset is the Pebble Project in
southwest Alaska, USA, an
advanced-stage initiative to develop one of the world's most
important mineral resources.
Ronald W.
Thiessen
President & CEO
Forward Looking Information and other
Cautionary Factors
This release includes certain statements that
may be deemed "forward-looking statements". All statements in this
release, other than statements of historical facts, that address
exploration drilling, exploitation activities and events or
developments that the Company expects are forward-looking
statements. Although the Company believes the expectations
expressed in its forward-looking statements are based on reasonable
assumptions, such statements should not be in any way construed as
guarantees of the ultimate size, quality or commercial feasibility
of the Pebble Project or of the Company's future performance or the
outcome of litigation. Assumptions used by the Company to develop
forward-looking statements include the following: the Pebble
Project will obtain all required environmental and other permits
and all land use and other licenses, studies and development of the
Pebble Project will continue to be positive, and no geological or
technical problems will occur. The likelihood of future
mining at the Pebble Project is subject to a large number of risks
and will require achievement of a number of technical, economic and
legal objectives, including obtaining necessary mining and
construction permits, approvals, licenses and title on a timely
basis and delays due to third party opposition, changes in
government policies regarding mining and natural resource
exploration and exploitation, the final outcome of any litigation,
completion of pre-feasibility and final feasibility studies,
preparation of all necessary engineering for open pit and
underground workings and processing facilities as well as receipt
of significant additional financing to fund these objectives as
well as funding mine construction. Such funding may not be
available to the Company on acceptable terms or on any terms at
all. There is no known ore at the Pebble Project and there is no
assurance that the mineralization at the Pebble Project will ever
be classified as ore. The need for compliance with extensive
environmental and socio-economic rules and practices and the
requirement for the Company to obtain government permitting can
cause a delay or even abandonment of a mineral project. The Company
is also subject to the specific risks inherent in the mining
business as well as general economic and business conditions. For
more information on the Company, Investors should review the
Company's annual Form 40-F filing with the United States Securities
and Exchange Commission and its home jurisdiction filings that are
available at www.sedar.com.
SOURCE Northern Dynasty Minerals Ltd.