Alaska mine developer Northern Dynasty wins EPA reprieve, shares soar

Northern Dynasty Minerals

30/07/2019 22:11

TORONTO, July 30 (Reuters) - The U.S. Environmental
Protection Agency said on Tuesday it would scrap a proposed
Obama-era restriction that would have blocked a Northern Dynasty
Minerals Ltd  NDM.TO  mining project in Alaska, sending the
company's shares soaring. 
    Under former U.S. President Barack Obama, the EPA in 2014
proposed limits on large-scale mining in the Alaska's Bristol
Bay area, citing environmental concerns.
    Shares of Vancouver-based Northern Dynasty, which touts the
project as the world's largest undeveloped
copper-gold-molybdenum-silver resource, closed up 67% at C$1.20,
their highest level since March.

 (Reporting By Nichola Saminather
Editing by Bill Berkrot)
 ((Nichola.Saminather@thomsonreuters.com; +1-416-687-7604;))