Pebble Project restored to normal course
permitting under Clean Water Act
VANCOUVER, May 12, 2017 /PRNewswire/ - Northern Dynasty
Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the
"Company") announces that its wholly-owned subsidiary, Alaska-based
Pebble Limited Partnership ("Pebble Partnership" or "PLP"), and the
US Environmental Protection Agency ("EPA") have reached a
settlement agreement with respect to the parties' longstanding
legal dispute over the federal agency's pre-emptive regulatory
action under Section 404(c) of the Clean Water Act.
Under the terms of the settlement agreement, EPA has agreed the
Pebble Project can proceed into normal course permitting under the
Clean Water Act and National Environmental Policy
Act. In particular, EPA has agreed it will not file a
Recommended Determination under CWA 404(c) until a final
Environmental Impact Statement ("EIS") for the Pebble Project has
been completed by the US Army Corps of Engineers (the "Corps") – so
long as that occurs within a period of four years following the
settlement agreement and PLP files permit applications within 30
months of the date of the settlement agreement. EPA has
further agreed to initiate a process to propose to withdraw the
Proposed Determination it issued under CWA 404(c) in July
2014. In return, the Pebble Partnership has agreed to
terminate permanently and with prejudice two lawsuits it brought
against EPA: an action under the Federal Advisory Committee
Act and an action under the Freedom of Information
Act.
"From the outset of this unfortunate saga, we've asked for
nothing more than fairness and due process under the law – the
right to propose a development plan for Pebble and have it assessed
against the robust environmental regulations and rigorous
permitting requirements enforced in Alaska and the
United States," said Ron
Thiessen, President & CEO. "Today's settlement gives us
precisely that, the same treatment every developer and investor in
a stable, first world country should expect."
Northern Dynasty and the Pebble Partnership expressed their
gratitude to EPA Administrator Scott
Pruitt and President Trump for their commitment to the rule
of law, and the fair and equal treatment of those who would invest
in job-creating industries in America. The Company also thanked
members of US Congress and the Alaska State Legislature who helped
in achieving the goal of due process for Pebble – in particular,
members of the House Committee on Science, Space & Technology,
House Committee on Oversight & Government Reform and Senate
Committee on Environment & Public Works.
"The Pebble Partnership will advance a progressive mine plan,
including mitigation, to be assessed by objective, expert
regulators at the US Army Corps of Engineers and a raft of other
federal and state agencies – including EPA", Thiessen said.
"Not only are we no longer facing extraordinary development
restrictions at Pebble, we will also be assured a fair and
predictable permitting review of our proposed development plan. The
Corps-led EIS will be prepared by independent, third party experts
to ensure that decisions are based on objective science, and that
public and stakeholder participation is comprehensive and
meaningful."
Thiessen said the Pebble Partnership has been advancing planning
for a smaller project design at Pebble than previously considered,
and one that incorporates significant environmental safeguards.
"It will be a busy and exciting year for Pebble and Alaska," confirmed Pebble Partnership CEO
Tom Collier. "Not only will we be
rolling out a project that is smaller, with demonstrable
environmental protections, we will also be announcing a number of
new initiatives to ensure our project is more responsive to the
priorities and concerns of Alaskans.
"We know the Pebble Project must not only protect the
world-class fisheries of Bristol Bay, it must also benefit the
people of the region and the state in a meaningful way. It is our
intent to demonstrate how we will meet those goals in the period
ahead."
Collier said a return to an objective, science-based and
predictable permitting process at Pebble will bode well for future
resource investment in Alaska and
the US.
"Resource investors do not have an expectation that we will
always receive development permits or always receive them on the
terms we would prefer, but we do have an expectation of fair
treatment under the law, and that science, not politics, should
guide permitting decisions," Collier said.
Investor Conference Call Details
Northern Dynasty will host a conference call today,
May 12, 2017, at 11:00 AM Eastern Time to discuss the EPA
settlement and the Pebble Project.
Investors can participate in the conference call by:
Webcast:
http://event.on24.com/wcc/r/1427716-1/555FD3FD583595BBA5220FB0C9D12EF6
Telephone: (877) 245-7303 in Canada and the USA or (478) 219-0731 international.
Passcode for the call is 22904301.
A presentation will also be available by going to the Northern
Dynasty's corporate website at www.northerndynastyminerals.com.
Please go to the website at least 15 minutes prior to the call
to register, download and install any necessary audio software.
A replay of the webcast will be available on the Investors page
of Northern Dynasty's website beginning at 2:00 PM Eastern Time on May 12, 2017, through 11:59 PM Eastern Time on June 12, 2017.
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development
company based in Vancouver,
Canada. Northern Dynasty's principal asset, owned through
its wholly-owned Alaska-based US
subsidiary Pebble Limited Partnership and other wholly-owned
subsidiaries, is a 100% interest in a contiguous block of 2,402
mineral claims in southwest Alaska, including the Pebble deposit. The
Pebble Partnership is the proponent of the Pebble Project, an
initiative to develop one of the world's most important mineral
resources.
For further details on Northern Dynasty and the Pebble Project,
please visit the Company's website at www.northerndynasty.com or
contact Investor services at (604) 684-6365 or within North America at 1-800-667-2114. Review
Canadian public filings at www.sedar.com and US public filings at
www.sec.gov.
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 surface or underground mining 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 filings 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.