" The biggest uncertainty/variability in the evaluation of a hypothetical project is associated with the potential range of design features, waste management options and operational details that could be included," said Dr. Dirk van Zyl, University of British Columbia professor of mine engineering and noted expert on sustainable mineral development. " This was completely overlooked in the analysis by assuming a specific design for the hypothetical mine. The failure likelihoods and consequences on salmonid fish are very dependent on the assumptions for the hypothetical mine. These uncertainties are neither clearly identified nor included in the evaluations. This is a major shortcoming of the present analysis."
Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (TSX: NDM; NYSE MKT: NAK) President & CEO Ron Thiessen noted that the summary portions of the Peer Review report actually understate the criticisms of the 12 individual scientists who were on the Peer Review Panel. He said it is clear that EPA has a significant amount of revision to do if the Bristol Bay Watershed Assessment is to provide a meaningful analysis of the potential effects of hard rock mining in Southwest Alaska. With the Pebble Partnership expected to finalize its development plans for Pebble next year, and to initiate federal and state permitting under the National Environmental Policy Act (NEPA), Thiessen suggested that EPA should shelve the draft BBWA report, not expend the many millions of dollars and possibly years necessary to complete it, and prepare to participate in the NEPA review of Pebble.
"The Pebble Project has the potential to triple America's strategic reserves of copper and more than double her strategic reserves of gold," Thiessen said. "It could also nearly double American reserves of molybdenum, allowing the US to rival China as a worldwide leader in the production of this critical metal used to harden steel for US manufacturing and construction industries.
"So this is an important project for Alaska and for the country, in terms of its ability to generate massive capital investment, job creation, government revenue and the raw materials to support America's manufacturing industries. It should be reviewed and assessed through the NEPA permitting process like every other major project development in the United States. The EPA's flawed and rushed Bristol Bay Watershed Assessment process should be shelved now."To view the Peer Review Panel report, or a summary of comments from individual Peer Reviewers prepared by Northern Dynasty, visit www.northerndynasty.com. About the Pebble Project The Pebble Project is an initiative of PLP to responsibly develop a globally significant copper, gold and molybdenum deposit in southwest Alaska into a modern, long-life mine. The project is located 200 miles southwest of Anchorage on state land designated for mineral exploration and development. It is situated 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. The Pebble Project consists of the Pebble deposit, surrounding mineral claims and a stream of financing being provided by Northern Dynasty's project partner Anglo American US (Pebble) LLC. The Pebble Partnership was established in July 2007 as a 50:50 partnership between a wholly-owned affiliate of Northern Dynasty and a wholly-owned subsidiary of Anglo American plc. Both Northern Dynasty and Anglo American have equal ownership and direction of the Pebble Partnership. Under the terms of the Pebble Limited Partnership Agreement, Anglo American is required to elect to commit $1.5 billion in staged investments in order to retain its 50% interest in the Pebble Project. Funds provided by Anglo American are currently being invested in comprehensive exploration, engineering, environmental and socioeconomic programs toward the future development of the Pebble Project. About Northern Dynasty Minerals Ltd. Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada, which holds indirect interests in over 600 sq. miles of mineral claims in southwest Alaska, USA. Northern Dynasty's principal asset is a 50% interest in the Pebble Partnership, owner of the Pebble Project. The Pebble Project is an advanced-stage initiative to develop one of the world's most important mineral resources. Review Canadian public filings at www.sedar.com and US public filings at www.sec.gov. Ronald W. Thiessen President & CEO Sole Responsibility No regulatory authority accepts responsibility for the adequacy or accuracy of this release. Northern Dynasty is solely and entirely responsible for the contents of this news release. No other party, including any parties which have an interest in the project, are in any way responsible for the contents hereof.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV