VANCOUVER, Dec. 23, 2013 /PRNewswire/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) ("Northern Dynasty" or the "Company") reports Rio Tinto has advised management that it intends to undertake a strategic review, including a possible divestment, of its shareholding in Northern Dynasty. Rio Tinto's December 23, 2013 news release sets out the strategic review. Rio Tinto, through QIT-Fer et Titane Inc., an indirect wholly-owned subsidiary of Rio Tinto plc, owns 18,145,845 common shares of Northern Dynasty, representing approximately 19.1% of Northern Dynasty's issued and outstanding shares.
Northern Dynasty will hold a conference call to discuss this development on Monday December 23, 2013 at 11 am Eastern/ 8 am Pacific. To participate in the call, the toll free number to dial in North America is 1-800-381-7839, international participants should dial 1-212-231-2901. Please call several minutes prior to the start time if you wish to participate.
About the Pebble Project
The Pebble Project is an initiative to responsibly develop a globally significant copper, gold and molybdenum deposit in southwest Alaska into a modern, long-life mine, which will benefit not only Northern Dynasty, but the people, culture and industries of the State of Alaska, as well as suppliers, consultants and industries in the Lower 48 United States of America.A recent study authored by IHS Global Insight, entitled The Economic and Employment Contributions of a Conceptual Pebble Mine to the Alaska and United States Economies found the Pebble Project has the potential to support 15,000 American jobs and contribute more than $2.5 billion annually to US GDP over decades of production. A copy the study is available at www.northerndynasty.com. The Pebble Project is located 200 miles southwest of Anchorage on state land designated for mineral exploration and development. It is situated in a region of rolling tundra 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.