ndm_ex991
Exhibit 99.1
Northern Dynasty comments on Environmental Protection
Agency’s statement on future actions
regarding Alaska’s Pebble Project
December 1, 2021 Vancouver – Northern Dynasty Minerals
Ltd. (TSX: NDM; NYSE American: NAK) ("Northern Dynasty" or the
"Company") comments on the November 17, 2021 press release by the
U.S. Environmental Protection Agency (“EPA”) in which
the EPA extended the deadline to either withdraw the 2014 Proposed
Determination or to prepare a Recommended Determination regarding
the Pebble Project in Southwest Alaska.
“While
it is not yet known what action, if any, the EPA will finally take,
we are cautiously optimistic about their commitment to consider new
information that has become available since the 2014 Proposed
Determination and to make science-based decisions,” said Ron
Thiessen, President and CEO of Northern Dynasty. “We do not
know which new information they may use in their decision, but we
believe that the strong administrative record of the overwhelmingly
positive Final Environmental Impact Statement of 2020 that was
prepared by the U.S. Army Corps of Engineers should be an important
part of it.”
“We
are also pleased that the EPA has established a timetable for their
review, with the recent extension through the end of May of 2022.
This action suggests their intention is to comply with the
regulations and not let the Proposed Determination languish,
therefore attempting to regulate by inaction. We do caution,
however, that we understand that the deadline can be extended
further at the EPA’s option.” Mr. Thiessen
added.
In a
statement communicated with media, the Pebble Limited Partnership
wrote:
“The EPA’s announcement that it wants to
“consider new information available” essentially
recognizes the fact that we submitted an actual detailed mine plan
and initiated the NEPA review process with the U.S. Army Corps of
Engineers. This resulted in the publication of an EIS for the
Pebble Project that shows it can be developed without harm to the
Bristol Bay fishery while providing substantial benefits to the
communities closest to the project. It is also worth noting that
the EPA did not have this significant volume of detailed technical
information when it took unprecedented preemptive action against
the project. We will work to ensure this is fully understood
by the EPA especially at a time when the nation will need the
minerals Pebble could provide to help the country utilize more
sources of renewable energy and is in line with the
administration’s climate change agenda.“
“We
echo recent comments from BHP and others that the global markets
will need double the amount of copper in the next 30 years than it
did in the past 30 years to facilitate a decarbonized economy. The
U.S. has significant copper resources within its borders, all it
needs to do is develop them.” said Mr. Thiessen.
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 U.S. subsidiary, Pebble
Limited Partnership, is a 100% interest in a contiguous block of
1,840 mineral claims in Southwest Alaska, including the Pebble
deposit, located 200 miles from Anchorage and 125 miles from
Bristol Bay. 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.northerndynastyminerals.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 U.S. public filings at www.sec.gov.
Ronald
W. Thiessen
President
& CEO
U.S.
Media Contact:
Dan
Gagnier, Gagnier Communications (646) 569-5897
Forward Looking Information and other Cautionary
Factors
This release includes certain statements that may be deemed
"forward-looking statements" under the United States Private
Securities Litigation Reform Act of 1995 and under applicable
provisions of Canadian provincial securities laws. All statements
in this release, other than statements of historical facts, which
address permitting, development and production for the Pebble
Project are forward-looking statements. These include statements
regarding (i) the mine plan for the Pebble Project, (ii) the social
integration of the Pebble Project into the Bristol Bay region and
benefits for Alaska, (iii) the political and public support for the
permitting process, (iv) the ability to successfully appeal the
negative Record of Decision and secure the issuance of a positive
Record of Decision by the U.S. Army Corps of Engineers and the
ability of the Pebble Project to secure all required federal and
state permits, (v) the right-sizing and de-risking of the Pebble
Project, (vi) the design and operating parameters for the Pebble
Project mine plan, including projected capital and operating costs,
(vii) exploration potential of the Pebble Project, (viii) future
demand for copper and gold, (ix) the potential addition of partners
in the Pebble Project, (x) the EPA’s Proposed Determination
process under the CWA and the impact of this process on the ability
of the Pebble Partnership to develop the Pebble Project and (xi)
the ability and timetable of NDM to develop the Pebble Project.
Although NDM believes the expectations expressed in these
forward-looking statements are based on reasonable assumptions,
such statements should not be in any way be construed as guarantees
that the Pebble Project will secure all required government
permits, establish the commercial feasibility of the Pebble
Project, achieve the required financing or develop the Pebble
Project.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, while considered reasonable by NDM as
of the date of such statements, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Assumptions used by NDM to develop forward-looking
statements include the assumptions that (i) the Pebble Project will
obtain all required environmental and other permits and all land
use and other licenses without undue delay, (ii) any feasibility
studies prepared for the development of the Pebble Project will be
positive, (iii) NDM’s estimates of mineral resources will not
change, and NDM will be successful in converting mineral resources
to mineral reserves, (iv) NDM will be able to establish the
commercial feasibility of the Pebble Project, (v) NDM will be able
to secure the financing required to develop the Pebble Project, and
(vi) any action taken by the EPA in connection with the Proposed
Determination will ultimately not be successfully in restricting or
prohibiting development of the Pebble Project. 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 (i) obtaining necessary
mining and construction permits, licenses and approvals without
undue delay, including without delay due to third party opposition
or changes in government policies, (ii) finalization of the mine
plan for the Pebble Project, (iii) the completion of feasibility
studies demonstrating that any Pebble Project mineral resources
that can be economically mined, (iv) completion of all necessary
engineering for mining and processing facilities, (v) the ability
of NDM to secure a partner for the development of the Pebble
Project, and (vi) receipt by NDM of significant additional
financing to fund these objectives as well as funding mine
construction, which financing may not be available to NDM on
acceptable terms or on any terms at all. NDM is also subject to the
specific risks inherent in the mining business as well as general
economic and business conditions, such as the current uncertainties
with regard to COVID-19. Investors should also consider the risk
factors identified in its Annual Information Form for the year
ended December 31, 2020, as filed on SEDAR and included in the
Company’s annual report on Form 40-F filed by the Company
with the SEC on EDGAR.
The National Environment Policy Act Environmental Impact Statement
process requires a comprehensive “alternatives
assessment” be undertaken to consider a broad range of
development alternatives, the final project design and operating
parameters for the Pebble Project and associated infrastructure may
vary significantly from that currently contemplated.
For more information on the Company, Investors should review the
Company's filings with the United States Securities and Exchange
Commission at www.sec.gov and its home jurisdiction filings that
are available at www.sedar.com.
