Pebble Partnership Appoints Vice President of Environment
Northern Dynasty Minerals Ltd. (TSX:NDM)
Historical Stock Chart
5 Years : From Aug 2011 to Aug 2016
VANCOUVER, Nov. 20, 2012 /PRNewswire/ - Northern Dynasty Minerals Ltd.
("Northern Dynasty" or the "Company") (TSX: NDM; NYSE MKT: NAK)
announces that the Pebble Limited Partnership (the "Pebble Partnership"
or "PLP") has appointed Dan Easton as Vice President of Environment to
lead the Pebble Project's environmental program, including permitting
and environmental studies.
Dan Easton is a civil engineer with 30 years of experience working on
environmental compliance and regulatory oversight in Alaska. His
background includes 13 years at the Alaska Department of Environmental
Conservation (DEC) permitting agency, where he supervised four major
operating divisions implementing waste water discharge and air quality
permitting, as well as all state environmental programs, including
spill prevention and response, drinking water, solid waste management
and environmental health. Mr. Easton also founded Easton Environmental,
a successful consulting environmental engineering company where he
worked on projects including remediation of Prince William Sound
shorelines after the Exxon Valdez oil spill. For several years, he
owned and operated a commercial fishing vessel and participated in
Southern Alaska's longline groundfish fishery.
Most recently, Mr. Easton served as Environmental and Regulatory Affairs
Manager on the early design phase of a major multi-billion dollar
Liquefied Natural Gas project in Western Australia.
President and CEO Ron Thiessen commented, "Dan's extensive involvement
in state-wide permitting programs and understanding of Alaskan
environments make him the natural choice for Vice President of
Environment. As the Pebble Partnership continues to methodically
advance a development plan that will protect fisheries and water
quality, Dan's leadership and expertise will help ensure that
mitigation strategies for the Pebble Project are scientifically sound
and sufficient before going through the rigorous environmental
permitting and regulatory requirements of state and federal agencies."
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
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.
Ronald W. Thiessen
President & CEO
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.
Forward Looking Information and other Cautionary Factors
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, especially those that address
estimated resource quantities, grades and contained metals, are
forward-looking statements because they are generally made on the basis
of estimation and extrapolation from a limited number of drill holes
and metallurgical studies. Although diamond drill hole core provides
valuable information about the size, shape and geology of an
exploration project, there will always remain a significant degree of
uncertainty in connection with these valuation factors until a deposit
has been extensively drilled on closely spaced centers, which has
occurred only in specific areas on the Pebble Project. Although the
Company believes the expectations expressed in its forward-looking
statements are based on reasonable assumptions, such statements should
not be in any way construed as guarantees of the ultimate size, quality
or commercial feasibility of the Pebble Project or of the Company's
future performance. The likelihood of future mining at the Pebble
Project is subject to a large number of risks and will require
achievement of a number of technical, economic and legal objectives,
including obtaining necessary mining and construction permits,
completion of pre-feasibility and final feasibility studies,
preparation of all necessary engineering for underground workings and
processing facilities as well as receipt of significant additional
financing to fund these objectives as well as funding mine
construction. Such funding may not be available to the Company on
acceptable terms or on any terms at all. There is no known ore at the
Pebble Project and there is no assurance that the mineralization at the
Pebble Project will ever be classified as ore. The need for compliance
with extensive environmental and socio-economic rules and practices and
the requirement for the Company to obtain government permitting can
cause a delay or even abandonment of a mineral project. The Company is
also subject to the specific risks inherent in the mining business as
well as general economic and business conditions. For more information
on the Company, Investors should review the Company's annual Form 40-F
filing with the United States Securities and Exchange Commission and
its home jurisdiction filings that are available at www.sedar.com.
Information Concerning Estimates of Measured, Indicated and Inferred
This news release uses the terms "measured resources", "indicated
resources" and "inferred resources". Northern Dynasty Minerals Ltd.
advises investors that although these terms are recognized and required
by Canadian regulations (under National Instrument 43-101 Standards of
Disclosure for Mineral Projects), the U.S. Securities and Exchange
Commission does not recognize them. Investors are cautioned not to
assume that any part or all of the mineral deposits in these categories
will ever be converted into reserves. In addition, "inferred
resources" have a great amount of uncertainty as to their existence,
and economic and legal feasibility. It cannot be assumed that all or
any part of an Inferred Mineral Resource will ever be upgraded to a
higher category. Under Canadian rules, estimates of Inferred Mineral
Resources may not form the basis of feasibility or pre-feasibility
studies, or economic studies except for Preliminary Assessment as
defined under 43-101. Investors are cautioned not to assume that part
or all of an inferred resource exists, or is economically or legally
SOURCE Northern Dynasty Minerals Ltd.