sherman106
2日前
MAGA........ "To MAKE ALASKA GREAT AGAIN".......... Right from the White House on Jan. 20, 2025............. "RECIND" the Biden Regulations that hindered Alaska from growing its Energy and Resource production,............... Maybe now the window of FRESH air is flowing, and will be OPEN for Production......................... Go Nak..................
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:
Section 1. Background. The State of Alaska holds an abundant and largely untapped supply of natural resources including, among others, energy, mineral, timber, and seafood. Unlocking this bounty of natural wealth will raise the prosperity of our citizens while helping to enhance our Nation’s economic and national security for generations to come. By developing these resources to the fullest extent possible, we can help deliver price relief for Americans, create high-quality jobs for our citizens, ameliorate our trade imbalances, augment the Nation’s exercise of global energy dominance, and guard against foreign powers weaponizing energy supplies in theaters of geopolitical conflict.
Unleashing this opportunity, however, requires an immediate end to the assault on Alaska’s sovereignty and its ability to responsibly develop these resources for the benefit of the Nation. It is, therefore, imperative to immediately reverse the punitive restrictions implemented by the previous administration that specifically target resource development on both State and Federal lands in Alaska.
Sec. 2. Policy. It is the policy of the United States to:
(a) fully avail itself of Alaska’s vast lands and resources for the benefit of the Nation and the American citizens who call Alaska home;
(b) efficiently and effectively maximize the development and production of the natural resources located on both Federal and State lands within Alaska;
(c) expedite the permitting and leasing of energy and natural resource projects in Alaska; and
(d) prioritize the development of Alaska’s liquified natural gas (LNG) potential, including the sale and transportation of Alaskan LNG to other regions of the United States and allied nations within the Pacific region.
Sec. 3. Specific Agency Actions. (a) The heads of all executive departments and agencies, including but not limited to the Secretary of the Interior; the Secretary of Commerce, acting through the Under Secretary of Commerce for Oceans and Atmosphere; and the Secretary of the Army acting through the Assistant Secretary of the Army for Public Works, shall exercise all lawful authority and discretion available to them and take all necessary steps to:
(i) rescind, revoke, revise, amend, defer, or grant exemptions from any and all regulations, orders, guidance documents, policies, and any other similar agency actions that are inconsistent with the policy set forth in section 2 of this order, including but not limited to agency actions promulgated, issued, or adopted between January 20, 2021, and January 20, 2025; and
(ii) prioritize the development of Alaska’s LNG potential, including the permitting of all necessary pipeline and export infrastructure related to the Alaska LNG Project, giving due consideration to the economic and national security benefits associated with such development.
(b) In addition to the actions outlined in subsection (a) of this section, the Secretary of the Interior shall exercise all lawful authority and discretion available to him and take all necessary steps to:
(i) withdraw Secretarial Order 3401 dated June 1, 2021 (Comprehensive Analysis and Temporary Halt on All Activities in the Arctic National Wildlife Refuge Relating to the Coastal Plain Oil and Gas Leasing Program);
(ii) rescind the cancellation of any leases within the Arctic National Wildlife Refuge, other than such lease cancellations as the Secretary of the Interior determines are consistent with the policy interests described in section 2 of this order, initiate additional leasing through the Coastal Plain Oil and Gas Leasing Program, and issue all permits, right-of-way permits, and easements necessary for the exploration, development, and production of oil and gas from leases within the Arctic National Wildlife Refuge;
(iii) rescind the final supplemental environmental impact statement entitled “Coastal Plain Oil and Gas Leasing Program Supplemental Environmental Impact Statement,” which is referred to in “Notice of Availability of the Final Coastal Plain Oil and Gas Leasing Program Supplemental Environmental Impact Statement, Alaska” 89 Fed. Reg. 88805 (November 8, 2024);
(iv) place a temporary moratorium on all activities and privileges granted to any party pursuant to the record of decision signed on December 8, 2024, entitled “Coastal Plain Oil and Gas Leasing Program Record of Decision,” which is referred to in “Notice of Availability of the Record of Decision for the Final Supplemental Environmental Impact Statement for the Coastal Plain Oil and Gas Leasing Program, Alaska,” 89 Fed. Reg. 101042 (December 13, 2024), in order to review such record of decision in light of alleged legal deficiencies and for consideration of relevant public interests, and, as appropriate, conduct a new, comprehensive analysis of such deficiencies, interests, and environmental impacts;
(v) reinstate the final environmental impact statement entitled “Final Environmental Impact Statement for the Coastal Plain Oil and Gas Leasing Program,” which is referred to in “Notice of Availability,” 84 Fed. Reg. 50472 (September 25, 2019);
(vi) reinstate the record of decision signed on August 21, 2020, entitled “Coastal Plain Oil and Gas Leasing Program Record of Decision,” which is referred to in “Notice of 2021 Coastal Plain Alaska Oil and Gas Lease Sale and Notice of Availability of the Detailed Statement of Sale,” 85 Fed. Reg. 78865 (December 7, 2020);
(vii) evaluate changes to, including the potential recission of, Public Land Order 5150, signed by the Assistant Secretary of the Interior on December 28, 1971, and any subsequent amendments, modifications, or corrections to it;
(viii) place a temporary moratorium on all activities and privileges granted to any party pursuant to the record of decision signed on June 27, 2024, entitled “Ambler Road Supplemental Environmental Impact Statement Record of Decision,” which is referred to in “Notice of Availability of the Ambler Road Final Supplemental Environmental Impact Statement, Alaska,” 89 Fed. Reg. 32458 (April 26, 2024), in order to review such record of decision in light of alleged legal deficiencies and for consideration of relevant public interests and, as appropriate, conduct a new, comprehensive analysis of such deficiencies, interests, and environmental impacts; and reinstate the record of decision signed on July 23, 2020, by the Bureau of Land Management and United States Army Corps of Engineers entitled “Ambler Road Environmental Impact Statement Joint Record of Decision,” which is referred to in “Notice of Availability of the Record of Decision for the Ambler Mining District Industrial Access Road Environmental Impact Statement,” 85 Fed. Reg. 45440 (July 28, 2020);
(ix) rescind the Bureau of Land Management final rule entitled “Management and Protection of the National Petroleum Reserve in Alaska,” 89 Fed. Reg. 38712 (May 7, 2024);
(x) rescind any guidance issued by the Bureau of Land Management related to implementation of protection of subsistence resource values in the existing special areas and proposed new and modified special areas in the National Petroleum Reserve in Alaska, as published on their website on January 16, 2025;
(xi) facilitate the expedited development of a road corridor between the community of King Cove and the all-weather airport located in Cold Bay;
(xii) place a temporary moratorium on all activities and privileges granted to any party pursuant to the record of decision signed on April 25, 2022, entitled “National Petroleum Reserve in Alaska Integrated Activity Plan Record of Decision,” (NEPA No. DOI-BLM-AK-R000-2019-0001-EIS), in order to review such record of decision in light of alleged legal deficiencies and for consideration of relevant public interests and, as appropriate, conduct a new, comprehensive analysis of such deficiencies, interests, and environmental impacts;
(xiii) rescind the Bureau of Land Management final rule entitled “Management and Protection of the National Petroleum Reserve in Alaska,” 89 Fed. Reg. 38712 (May 7, 2024), and rescind the Bureau of Land Management notice entitled “Special Areas Within the National Petroleum Reserve in Alaska,” 89 Fed. Reg. 58181 (July 17, 2024);
(xiv) reinstate Secretarial Order 3352 dated May 17, 2017 (National Petroleum Reserve – Alaska), which is referred to in “Final Report: Review of the Department of the Interior Actions that Potentially Burden Domestic Energy,” 82 Fed. Reg. 50532 (November 1, 2017), and the record of decision signed on December 31, 2020, entitled “National Petroleum Reserve in Alaska Integrated Activity Plan Record of Decision,” which is referred to in “Notice of Availability of the National Petroleum Reserve in Alaska Integrated Activity Plan Final Environmental Impact Statement,” 85 Fed. Reg. 38388 (June 26, 2020);
(xv) reinstate the following Public Land Orders in their original form:
Public Land Order No. 7899, signed by the Secretary of the Interior on January 11, 2021;
Public Land Order No. 7900, signed by the Secretary of the Interior on January 16, 2021;
Public Land Order No. 7901, signed by the Secretary of the Interior on January 16, 2021;
Public Land Order No. 7902, signed by the Secretary of the Interior on January 15, 2021;
Public Land Order No. 7903, signed by the Secretary of the Interior on January 16, 2021; and
any other such Public Land Order that the Secretary of the Interior determines would further the policy interests described in section 2 of this order.
(xvi) immediately review all Department of the Interior guidance regarding the taking of Alaska Native lands into trust and all Public Land Orders withdrawing lands for selection by Alaska Native Corporations to determine if any such agency action should be revoked to ensure the Department of the Interior’s actions are consistent with the Alaska Statehood Act of 1958 (Public Law 85-508), the Alaska National Interest Lands Conservation Act (ANILCA) (16 U.S.C. 3101 et seq.), the Alaska Native Claims Settlement Act of 1971 (43 U.S.C. 1601, et seq.), the Alaska Land Transfer Acceleration Act (Public Law 108-452), and the Alaska Native Vietnam-era Veterans Land Allotment Program under section 1629g-1 of title 43, United States Code.
(xvii) rescind the record of decision “Central Yukon Record of Decision and Approved Resource Management Plan,” signed on November 12, 2024, which is referred to in “Notice of Availability of the Record of Decision and Approved Resource Management Plan for the Central Yukon Resource Management Plan/Environmental Impact Statement, Alaska,” 89 Fed. Reg. 92716 (November 22, 2024);
(xviii) reimplement the draft resource management plan and environmental impact statement referenced in the National Park Service notice entitled “Notice of Availability for the Central Yukon Draft Resource Management Plan/Environmental Impact Statement, Alaska,” 85 Fed. Reg. 80143 (December 11, 2020);
(xix) rescind the National Park Service final rule entitled “Alaska; Hunting and Trapping in National Preserves,” 89 Fed. Reg. 55059 (July 3, 2024), and reinstate the National Park Service final rule entitled “Alaska; Hunting and Trapping in National Preserves,” 85 Fed. Reg. 35181 (June 9, 2020), in its original form;
(xx) deny the pending request to the United States Fish and Wildlife Service to an establish indigenous sacred site in the Coastal Plain of the Arctic National Wildlife Refuge;
(xxi) immediately conduct a review of waterways in the State of Alaska and direct the Bureau of Land Management, in consultation with the State of Alaska, to provide recommendations of navigable waterways subject to the equal footing doctrine and the Submerged Lands Act of 1953, as amended, 43 U.S.C. 1301 et seq., and prepare Recordable Disclaimers of Interest pursuant to section 315 of the Federal Land Policy and Management Act of 1976, 43 U.S.C. 1745, to restore ownership of said waterways to the State as appropriate;
(xxii) direct all bureaus of the Department of the Interior to consider the Alaskan cultural significance of hunting and fishing and the statutory priority of subsistence management required by the ANILCA, to conduct meaningful consultation with the State fish and wildlife management agencies prior to enacting land management plans or other regulations that affect the ability of Alaskans to hunt and fish on public lands, and to ensure to the greatest extent possible that hunting and fishing opportunities on Federal lands are consistent with similar opportunities on State lands; and
(xxiii) identify and assess, in collaboration with the Secretary of Defense, the authorities and public and private resources necessary to immediately achieve the development and export of energy resources from Alaska — including but not limited to the long-term viability of the Trans-Alaska Pipeline System and the associated Federal right-of-way as an energy corridor of critical national importance — to advance the Nation’s domestic and regional energy dominance, and submit that assessment to the President.
(c) In addition to the actions outlined in subsection (a) of this section, the Secretary of Agriculture shall place a temporary moratorium on all activities and privileges authorized by the final rule and record of decision entitled “Special Areas; Roadless Area Conservation; National Forest System Lands in Alaska,” 88 Fed. Reg. 5252 (January 27, 2023), in order to review such rule and record of decision in light of alleged legal deficiencies and for consideration of relevant public interests and, as appropriate, conduct a new, comprehensive analysis of such deficiencies, interests, and environmental impacts. Further, the Secretary of Agriculture shall reinstate the final rule entitled “Special Areas; Roadless Area Conservation; National Forest System Lands in Alaska,” 85 Fed. Reg. 68688 (October 29, 2020).
(d) In addition to the actions outlined in subsection (a) of this section, the Secretary of the Army, acting through the Assistant Secretary of the Army for Civil Works, shall render all assistance requested by the Governor of Alaska to facilitate the clearing and maintenance of transportation infrastructure, consistent with applicable law. All such requests for assistance shall be transmitted to the Secretary of Defense, Secretary of the Interior, and Assistant to the President for Economic Policy for approval prior to initiation.
(e) The Assistant Secretary of the Army for Civil Works, under the direction of the Secretary of the Army, shall immediately review, revise, or rescind any agency action that may in any way hinder, slow or otherwise delay any critical project in the State of Alaska.
(f) The Secretary of Commerce, in coordination with the Secretary of the Interior, shall immediately review, revise or rescind any agency action that may in any way hinder, slow or otherwise delay any critical project in the State of Alaska.
Sec. 4. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department or agency, or the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
THE WHITE HOUSE,
January 20, 2025.
News
Administration
Issues
THE WHITE HOUSE
1600 Pennsylvania Ave NW
Washington, DC 20500
heizenburg
3月前
Thanks but I'll take the opinion of David Lowell.
Got this off a Canadian chat site: A great read if you can spare a minute.
(From the National Mining Hall of Fame and Museum)
Dave Lowell, an outstanding exploration geologist and mine finder, discovered and contributed to the discovery of a number of major producing mines, including La Escondida in Chile, which was developed into the world’s largest copper mine, and the nearby Zaldivar-Escondida Norte orebody. Dave Lowell is recognized as one of the world’s foremost authorities on porphyry copper deposits. Among more than 50 published articles, the most notable, co-authored with John Guilbert, defines the Lowell and Guilbert Porphyry Copper Model. This article became a standard reference for exploration geologists worldwide. In 2009, Dave Lowell contributed heavily to the endowment for the Lowell Institute of Mineral Resources at the University of Arizona, and in total, his contributions to the University of Arizona are in the range of many millions of dollars.
Dave Lowell became an independent consultant in 1961. Between 1961 and 1990, he worked for 110 companies in 26 countries, largely in porphyry copper exploration. In 1965, his work contributed to two discoveries in Arizona: the Kalamazoo orebody for Quintana Petroleum Co. and the Vekol Hills deposit for Newmont. A similar project for Newmont, Hanna, and Getty found the Casa Grande West deposit in 1975. At about the same time, he made contributions to discoveries of the JA orebody in Canada by Bethlehem Copper, the Dizon deposit in the Philippines by Benguet, and the Far Southeast orebody in the Philippines by Lepanto.
In 1974, Dave Lowell began to focus on Chile and, starting in 1979, he planned and managed a contract grassroots program financed by Utah International and Getty Oil. This work led to the Escondida discovery. In 1987, a small Chilean syndicate managed by Lowell found the 1-million-ounce San Cristobal gold mine. In 1990, the Leonore orebody (now the core of the Luksic Tesoro Mine) was optioned and drilled by Lowell for Niugini Mining Co. In early 1991, Dave Lowell initiated a personally-financed exploration program in Peru. This evolved in 1993 into a Canadian junior company, Arequipa Resources. Late in 1995, Arequipa discovered the 8-million-ounce Pierina gold orebody, which it sold in 1996 to Barrick Gold. Subsequent work by a Lowell company, Peru Copper, developed the Toromocho copper-silver-molybdenum deposit in Peru, which Chinalco purchased for $900 million in 2007 and is now developing as a $2.7-billion project. Another Lowell company, CIC Resources, is currently developing a very large titanium resource in Paraguay.
Dave Lowell received a B.S. degree in mining engineering from the University of Arizona in 1949 and an M.S. in geology from Stanford University in 1957. He obtained a Professional Engineer degree from the University of Arizona in 1959 and received honorary degrees from Universidad Nacional de San Marcos in Peru in 1998 and the University of Arizona in 2000.
Dave Lowell was elected to the National Academy of Engineering in 1999. He received the SME Daniel C. Jackling and Robert Dreyer Awards, the AIME Earl McConnell Award, the SEG Silver Medal and Penrose Gold Medal, the MMSA Gold Medal, the Australian Academy of Science Haddon Forrester King Silver Medal, and the Chilean Centro de Estudios de Cobre y la Mineria CESCO Award.
(From Interview)
David Lowell is one of the greatest geologists of all time. He discovered the Escondida project, which became the world’s biggest copper mine. He’s discovered more than a dozen world-class economic mineral deposits as well. It’s an incredible achievement when you consider that the top tier geologists are lucky to discover one world class deposit in their career. David’s discoveries have given him the title of “world’s greatest mineral exploration geologist.” He’s forgotten more about finding deposits and building mines than most people will ever know.
David is also a mining engineer, which gives him unique insight on the costs involved in building a mine. I got to know David a lot better when he traveled to the Pebble project with me last year. As the debate over Northern Dynasty got louder and louder, I knew David would be a great source of insight on the topic.
The transcript of our discussion is below.
________________________________________
MK: David it’s a pleasure to sit here with you. I’d like to get your professional opinion about Pebble on the record.
Today there is a lot of controversy going on in the market between the shorts and the longs and I thought it would be an incredible resource tool for the whole market to get the opinion of the greatest porphyry geologist that I know of which is David Lowell and ask his opinion.
What are your thoughts on the Pebble project after actually walking on site, looking at the core samples, looking all the publicly available information on the Pebble deposit which is owned by Northern Dynasty?
DL: Well it was a unique opportunity, all the work that has been done to date is a very large amount of diamond drilling, which all we know about the ore body are the cores obtained by the diamond drill operation, and I examined some of these, hopefully a representative sample of the core and looked around at the surface and read the very comprehensive reports on engineering and geology that had been made, including long-term environmental studies which include a fisheries study which suggested in almost all cases I am aware of, the habitat increases. And I read the engineering reports recommending the project be carried out.
A kind of a horrible statistic is that because of interference by environmental clubs, and a wealthy fisherman that has a cabin within 100km radius of the project and by the American EPA bureau, the project has never been possible to move into the next stage. But something on the order of $700 million dollars has been spent thanks to interference by environmentalists and government agencies.
MK: Majors such as Anglo have invested a significant amount of dollars into it. How would you rank the Pebble project relative to other porphyry copper projects in the world that you are familiar with?
DL: It is the biggest deposit that I know of, that is ready to be put into production at this time and when it is in production, eventually, it will very likely be become the largest copper-gold mine in the world.
MK: So you do believe this is an economic deposit and the Pebble project will be in production one day?
DL: I am certain of that. And it’s possible to design a pit and concentrator assuming average grade which includes the higher grade and the lower grade, which will produce an optimum tonnage from the mine.
MK: And you believe there will be an open pit and underground portion to the project?
DL: Yes. And I believe there will be 2 or 3 different open pits. In the mining business, it’s common to begin to build the mill and begin on a high grade near surface part of the ore body.
MK: Wasn’t that how Escondida was originally started?
DL: Yes. Escondida and probably 20 other large scale mining operations.
MK: For open disclosure David, are you a shareholder of Northern
Dynasty?
DL: Yes I am.
MK: What would you say to all of the critics and shorts out there and all of the so called geologic ”experts” who are saying the project is worthless? I’ve read and heard some people state including professional geologists, claim that the project is not economically viable or there’s nothing of value at Pebble What would you say to those individuals?
DL: I would say try to get back in a mining college and learn more.
MK: That’s exactly the response another Mining Hall of Famer, Bob Dickinson said on stage at my investment conference in Vancouver in January when I asked the same question.
DL: I totally agree, I think that it’s such a ridiculous statement it hardly bears arguing with, but I don’t know all the background of what they stated.
MK: Other than cyclicality of our business or the commodity price do you see any other fatal flaws to the Pebble project?
DL: No.
MK: I want to discuss the social aspects of a mine such as Pebble being brought into production and the effects to the community. We drove around the communities around the Pebble project such as Iliamna and other areas in the region where a gallon of milk is $15, a case of beer is $60 because everything is chartered in.
I truly believe that not only will there be 15,000 jobs created by the development of the Pebble deposit, but the community will benefit as a whole. Schools, hospitals the municipalities will have more money from the wealth generated from the mine and that will improve the standards of living for all. You’ve seen the social effects of mining more than anyone, what is your opinion?
DL: Well there almost all helpful, productive, higher standards of living, increased security, especially a mine like Pebble, which will probably span several generations. And in Alaska, the Alaskan government is in favor of the development, the district government is in favor of the development and most of the indigenous communities are in favor of development. So it’s surprising that they have been able to stop this development. Money from mines is new wealth. The money that comes out of a large high-grade mine benefits all.
MK: What do you see as the final outcome with respect to the Pebble project? You’ve worked with many majors, developing the deposits, finding deposits, selling them to the majors, what do you see as a shareholder yourself in Northern Dynasty as the eventual outcome for Northern Dynasty shareholders?
DL: I think the best outcome would be for a large company already experienced in producing copper and gold or a consortium of producers to take the project over.
MK: Like what took place with Escondida for example?
DL: Escondida was a consortium. A lot of additional money will have to be put into the development
MK: So you believe this project will warrant and attract billions of dollars in capital for infrastructure?
DL: Absolutely, I have, no question whatsoever. Pebble’s published ore grade of the deposit is higher than the ore grade in many of the Arizona, New Mexico mines, and higher than the number of big mines in production today like Highland Valley.
MK: And it will also be a clean concentrate?
DL: Yes
MK: Whereas Escondida is more of a dirty concentrate now
DL: Yes, that’s right.
MK: Do you want to explain why clean concentrate is so important to my subscribers?
DL: Well there a number of minerals that typically occur with the copper minerals, and minerals that contain gold and some of these minerals like enargite, which contains arsenic, and minerals that contain mercury produce a dirty concentrate.
MK: And Mother Nature blessed Pebble because none of those ‘nasties’ are an issue in the Pebble concentrate?
DL: That’s right.
MK: So to conclude this Q&A; I just want to make sure we’re absolutely clear here, you’re a shareholder and you believe this is a world class deposit, you believe its economically viable, you believe it will be developed and put into production and it will be a multi-generational asset, am I correct on all fronts there?
DL: You are.
Oleblue
5月前
Northern Dynasty: Second Tranche of Amended Royalty Agreement Completed with Receipt of US $10 Million
Thu, Jul 25, 2024
VANCOUVER, BC / ACCESSWIRE / July 25, 2024 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company") reports it has received the remaining $10 million royalty payment under the second tranche of the Company's royalty agreement dated July 26, 2022 (the "Royalty Agreement') and the amended Royalty Agreement (the "Amendment") dated November 13, 2023. All currency figures are U.S. dollars.
Under the Amendment, the royalty investor (the "Royalty Holder") received the right to fund the second $12 million tranche in six equal installments of $2 million in exchange for the right to receive approximately 0.33% of the payable gold production and 1% of the payable silver production from the Pebble Project per each additional payment installment made (representing 1/6 of the aggregate royalty under the second tranche). Northern Dynasty received the first $2 million upon execution of the Amendment, as reported in the Company's November 13, 2023 news release.
As the Royalty Holder has now completed all six installments (for a total of $12 million) of the second tranche on or before July 26, 2024, the balance of the completion of the Royalty Agreement has been extended until July 26, 2025 as agreed to under the Amendment. The remaining three tranches of $12 million each, as described in the Company's July 27, 2022 news release and its recent Q1 2024 MD&A, have not been similarly subdivided, and the aggregate total purchase price of $60 million and maximum royalty rates (10% of payable gold production and 30% of payable silver production) remain unchanged from the original Royalty Agreement.
"We are pleased that the investor has completed the second of five $12 million tranches," said Ron Thiessen, President and CEO of Northern Dynasty Minerals. "As a result, the expiration date has been extended for one year, by which time we could receive the additional $36 million investment from the remaining three tranches contemplated in the original royalty agreement. Meanwhile we will continue to advance responsibly and reasonably the Pebble Project, one of the most important minerals and metals deposits in the world, with standards that assure the environment and regional fisheries are safeguarded as detailed in the USACE's Final Environmental Impact Statement and Remand Order."
The Company received the first tranche of $12 million in return for the right of the Royalty Holder to receive 2% of the payable gold production and 6% of the payable silver production from the Pebble Project, after accounting for a notional payment by the Royalty Holder of $1,500 per ounce of gold and $10 per ounce of silver, respectively, for the life of the mine (see Northern Dynasty news release July 27, 2022). Completion of the second tranche of $12 million increases the investor's right to an aggregate of 4% of the payable gold production and 12% of the aggregate silver production. If, in the future, spot prices exceed $4,000 per ounce of gold or $50 per ounce of silver, then the Company will share 20% of the excess price for either metal. Additionally, the Company will retain a portion of the metal produced at recovery rates in excess of 60% for gold and 65% for silver, and so is incentivized to continually improve operations over the life of the mine.
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.
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 public filings, which include forward looking information cautionary language and risk factor disclosure regarding the Company and the Pebble Project in Canada at www.sedarplus.ca and in the United States 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 and the ability of the Company to successfully complete the full financing transaction discussed above (the "Royalty Financing") are forward-looking statements. These include statements regarding: (i) the ability of the Pebble Project to ultimately secure all required federal and state permits, (ii) if permitting is ultimately secured, the ability to demonstrate that the Pebble Project is commercially viable, (iii) the ability of the Company and/or the State of Alaska to challenge the EPA's Final Determination process under the Clean Water Act through legal actions; and (iv) the full payment of the balance of the payments under the final three tranches and the future determinations of the Royalty Holder to increase its investment and the successful completion of the full Royalty Financing.
Although Northern Dynasty ("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 and environmental permits or regarding the ability of NDM to develop the Pebble Projects in light of the USACE remand decision and EPA's Final Determination.
Assumptions used by NDM to develop forward-looking statements include the following assumptions: (i) the Pebble Project will ultimately obtain all required environmental and other permits and all land use and other licenses and (ii) NDM will be successful in its legal action against the EPA and any action taken by the EPA in connection with the Final Determination will ultimately not be successful in restricting or prohibiting development of the Pebble Project; (iii) the full amounts under the remaining tranches of the Royalty Financing will be advanced by the investor by July 26, 2025 of which there is no assurance, and (iv) NDM will be able to secure the financing required to develop the Pebble Project, including the full Royalty Financing.
NDM is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. Investors should also consider the risk factors identified in the Company's Annual Information Form for the year ended December 31, 2023, as filed on SEDAR plus and included in the Company's annual report on Form 40-F filed by the Company with the SEC on EDGAR, and the Company's Management Discussion and Analysis for the year ended December 31, 2023 and for the three months ended March 31, 2024 as filed on SEDAR plus and EDGAR, for a discussion of the risks that may impact our forward-looking statements.
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. As a result, the Company will continue to consider various development options and no final project design has been selected at this time.
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.sedarplus.ca.
SOURCE: Northern Dynasty Minerals Ltd.
https://finance.yahoo.com/news/northern-dynasty-second-tranche-amended-153000894.html
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