Alaska Native Corporation signs partnership
agreement with Pebble
VANCOUVER, Nov. 20, 2018 /PRNewswire/ - Northern Dynasty
Minerals Ltd. (TSX: NDM; NYSE American: NAK) ("Northern Dynasty" or
the "Company") reports the Pebble Limited Partnership ("Pebble
Partnership" or "PLP") has finalized a Right-of-Way Agreement with
Alaska Peninsula Corporation ("APC"), securing the right to use
defined portions of APC lands for the construction and operation of
transportation infrastructure associated with the Pebble
Project.
The Pebble Partnership is wholly owned by Northern Dynasty and
proponent of southwest Alaska's
Pebble Project. APC is an Alaska Native village corporation with
extensive land holdings proximal to the Pebble site, and more than
900 shareholders – many of whom live in the nearby villages of
Newhalen and Kokhanok.
"Today's agreement not only secures access to the Pebble Project
site for construction and operation of the proposed mine," said
Northern Dynasty President & CEO Ron
Thiessen. "It also represents a significant milestone in the
developing relationship between Pebble and the Alaska Native people
of the region.
"We have always said Pebble must be developed in partnership
with the local people and institutions of southwest Alaska. We have more work to do in that
regard, but a Right-of-Way Agreement with one of the largest Alaska
Native landowners in the region goes a long way to bringing our
commitment to life."
The APC lands addressed in the Right-of-Way Agreement mirror the
transportation corridor identified in PLP's Project Description, as
submitted to the US Army Corps of Engineers late last year to
initiate the federal Environmental Impact Statement (EIS)
permitting process. It includes land south of Lake Iliamna to link
a port site on Cook Inlet to a ferry landing site west of the APC
village of Kohkanok, as well as land north of Lake Iliamna to link
a ferry landing site west of the APC village of Newhalen to the
site of the proposed Pebble mine.
PLP transportation infrastructure is expected to benefit APC,
its shareholders and villages through access to lower cost power,
equipment and supplies, as well as enhanced economic activity in
the region. Spur roads connecting to the villages of Newhalen and
Kokhanok will allow local
residents to access jobs at the Pebble mine site, port site and
ferry landing sites.
"Among our leading priorities as an Alaska Native corporation is
to manage and develop our lands responsibly, in a manner that
creates employment opportunities for our shareholders but also
respects our subsistence values and culture," said Brad Angasan, APC Vice President of Corporate
Affairs. "That's exactly what this deal represents for APC, as well
as securing us an important seat at the table as the Pebble Project
advances."
To secure its right to use defined portions of APC land for the
construction and operation of transportation infrastructure, PLP
will make annual toll payments to APC, and pay other fees prior to
and during project construction and operation. In addition, APC
will be granted 'Preferred Contractor' status at Pebble, which
provides a preferential opportunity to bid on Pebble-related
contracts located on APC lands.
Finally, the two parties have agreed to negotiate a profit
sharing agreement that will ensure APC and its shareholders benefit
directly from the profits generated by mining activity in the
region.
"APC has been an important stakeholder and business partner in
the Pebble enterprise for some time, and we're pleased to formalize
that partnership today," Thiessen said. "We expect to secure
additional mutually beneficial partnership agreements with other
local and Alaska Native institutions as the project moves
forward."
About Northern Dynasty Minerals Ltd.
Northern Dynasty is a mineral exploration and development
company based in Vancouver,
Canada. Northern Dynasty's principal asset, owned through
its wholly-owned Alaska-based US
subsidiary Pebble Limited Partnership, is a 100% interest in a
contiguous block of 2,402 mineral claims in southwest Alaska, including the Pebble deposit. The
Pebble Partnership is the proponent of the Pebble Project, an
initiative to develop one of the world's most important mineral
resources.
For further details on Northern Dynasty and the Pebble Project,
please visit the Company's website at
www.northerndynastyminerals.com or contact Investor services at
(604) 684-6365 or within North
America at 1-800-667-2114. Review Canadian public filings at
www.sedar.com and US public filings at www.sec.gov.
Ronald W. Thiessen
President & CEO
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, that address exploration
drilling, exploitation activities and events or developments that
the Company expects are forward-looking statements. 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 or the outcome of litigation.
Assumptions used by the Company to develop forward-looking
statements include the following: the Pebble Project will obtain
all required environmental and other permits and all land use and
other licenses, studies and development of the Pebble Project will
continue to be positive, and no geological or technical problems
will occur. 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, approvals,
licenses and title on a timely basis and delays due to third party
opposition, changes in government policies regarding mining and
natural resource exploration and exploitation, the final outcome of
any litigation, completion of pre-feasibility and final feasibility
studies, preparation of all necessary engineering for surface or
underground mining 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.
The NEPA EIS process requires a comprehensive "alternatives
assessment" be undertaken to consider a broad range of development
alternatives, the final project design and operating parameters for
the Pebble Project and associated infrastructure may vary
significantly from that currently being advanced. As a result, the
Company will continue to consider various development options and
no final project design has been selected at this time.
For more information on the Company, Investors should review the
Company's filings with the United States Securities and Exchange
Commission and its home jurisdiction filings that are available at
www.sedar.com
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SOURCE Northern Dynasty Minerals Ltd.