Northern Dynasty Minerals Ltd (NYSEMKT:NAK)
Northern Dynasty Minerals Ltd (NYSEMKT:NAK) has announced that Pebble Limited Partnership, the company’s fully owned U.S subsidiary, has received approval for a Miscellaneous Land Use Permit from the state Department of Natural Resources in Alaska.
Pebble Partnership CEO Tom Collier said the Department of Natural Resources in Alaska have been actively involved in supervising work at the Pebble Project site for over a decade and have confirmed that the site is managed well. He adds that the company will continue with work at the site while fully complying with the permit conditions in a way that will protect public interest in the resources and land surrounding the site.
Pebble Partnership says it is currently reviewing all the details in the land use permit it was awarded. Collier however confirmed that they will be carrying on a working program in Alaska during this year so as to prepare the site to start permitting in compliance with the Clean Water Act and National Environmental Policy Act.
Due to the extensive work done at the Pebble Project in the last ten years, and projected future activities at the site, the 2017 Miscellaneous Land Use Permit requires the company have a performance guaranty of $2 million to cover any potential liability that many arise.
The Pebble Partnership has operations in Iliamna, Alaska with full time employees dedicated to the care and maintenance of Pebble Project facilities, equipment as well as installations. Every year, the company’s staffs carry out a program of inspection and make repairs where necessary initiate repairs to guarantee the safety of the public in addition to enhancing reclamation at the site.
Northern Dynasty is a development company engaged in exploration of minerals and located in Vancouver, Canada. The company’s main asset is its 100% owned subsidiary Pebble Limited Partnership as well as other subsidiaries is a wholly owned interest in blocks of 2,402 mineral claims located in southwest Alaska which include Pebble deposit. The Pebble Partnership is the main proprietor of the Pebble Project.
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About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.