Northern Dynasty to Initiate Federal and State Permitting for Pebble

Northern Dynasty Minerals Ltd. (TSX:NDM,NYSEAMERICAN:NAK) announced that Pebble Limited Partnership, its wholly owned subsidiary, will file for a US Clean Water Act 404 permit on December 22. Filing for the permit will initiate federal and state permitting for the company’s Pebble project.
As quoted in the press release:

On May 12, 2017, Northern Dynasty announced a settlement agreement with EPA, whereby the federal agency agreed to initiate a process to withdraw its Proposed Determination under Section 404(c) of the Clean Water Act, thereby clearing the way for Pebble to apply for a CWA 404 permit with the US Army Corps of Engineers. On December 18, 2017, Northern Dynasty announced a framework agreement with First Quantum Minerals Ltd. (“First Quantum”) (TSX: FM), which contemplates that an affiliate of First Quantum will subsequently execute a US$150 million option agreement with Northern Dynasty, which provides for a future right to acquire a 50% interest in the Pebble Partnership for a further investment of US$1.35 billion. Northern Dynasty has now received an initial US$37.5 million Early Option Installment Payment from First Quantum.

Ron Thiessen, president and CEO of Northern Dynasty, commented:

At the outset of 2017, we established three ambitious corporate objectives for Northern Dynasty and the Pebble Project. We committed to reaching a resolution with the US Environmental Protection Agency (“EPA”) to restore the Pebble Project to normal course permitting, to re-partnering on the Pebble Project and to initiating permitting under NEPA. As we approach the end of the year, I’m proud to report that we will hit our mark on all three important milestones.

Click here to read the full Northern Dynasty Minerals Ltd. (TSX:NDM,NYSEAMERICAN:NAK) press release.