U.S. EPA to block Pebble Mine copper/gold mine project in Alaska (updated)

Northern Dynasty Minerals

30/01/2023 23:18

(Adds details)
       Jan 30 (Reuters) - 
    The U.S. Environmental Protection Agency plans to take steps
on Tuesday to block Northern Dynasty Minerals Ltd's  NDM.TO 
proposed Pebble copper and gold mining project in Alaska by
preventing the company from storing mine waste in the state's
vast watershed. 
    The move, which had been expected, would be the second in
less than a week by President Joe Biden's administration against
a proposed domestic source of copper, with officials
increasingly calling for the protection of sensitive ecologies
even if they contain metals needed for the green energy
transition.
    The proposed Pebble mine, which would tap one of the world's
largest copper and gold deposits, would have "unacceptable and
adverse effects on certain salmon fishery areas" in Alaska's
Bristol Bay, the agency plans to announce on Tuesday in a step
known as a final determination under the U.S. Clean Water Act.  
 
    Vancouver, British Colombia-based Northern Dynasty said it
will comment after it has seen the EPA's final determination.
        The EPA's move also would prevent future development of
the Pebble deposit if this would cause the same or more harm to
the environment as the existing mine plan.
  
        The project has been through a roller coaster of
regulations for the past 15 years. Former U.S. President 
    Barack Obama
     opposed the project, and his successor 
    Donald Trump
     ultimately did, too, after deciding it was too risky. Biden
has long opposed the project and took steps upon 
    taking office
     in 2021 to permanently protect Bristol Bay. 
  
        Environmentalists cheered the news. "We're thrilled to
see the EPA fulfill it's commitment to the people of Alaska and
to provide enduring protection for Bristol Bay, its economy, its
salmon and its people from the dangerous and destructive Pebble
Mine," said Bonnie Gestring of Earthworks, a conservation group.
  
        Shares of Northern Dynasty fell 1.5% to close at C$0.32
($0.2391) in Toronto.
  
    ($1 = 1.3384 Canadian dollars)
  
 (Reporting by Ernest Scheyder, Valerie Volcovici and Nichola
Groom; Editing by Jonathan Oatis and David Gregorio)
 ((ernest.scheyder@thomsonreuters.com; Twitter: @ErnestScheyder;
+1-713-210-8512; Reuters Messaging:
ernest.scheyder.thomsonreuters.com@reuters.net))