Alaska Native Village Corporation enters
partnership agreement with Pebble
VANCOUVER,
May 15, 2019 /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 Iliamna Natives Limited ("INL"),
securing the right to use defined portions of INL lands for the
construction and operation of transportation infrastructure
associated with the Pebble Project.
The Pebble Partnership is a wholly owned US subsidiary of
Northern Dynasty and proponent of southwest Alaska's Pebble Project. INL is an Alaska
Native village corporation with extensive land holdings proximal to
the Pebble site, and represents more than 150 Alaska Native
shareholders, many of whom live in the nearby village of
Iliamna.
"We're very pleased to have reached an agreement with
Iliamna that will involve them and
their shareholders in a meaningful way in the future development of
the Pebble Project," said Northern Dynasty President & CEO
Ron Thiessen.
"Not only does today's announcement demonstrate that the
Alaska Native landowners and those who live in closest proximity to
the project support the work we are doing to advance Pebble in an
environmentally sound and socially responsible manner, it also
ensures they will benefit in a meaningful way from the jobs and
other economic opportunities associated with the
project."
The Right-of-Way Agreement reached with INL this month is
the second such agreement the Pebble Partnership has reached with
Alaska Native landowners to secure access to the project site for
construction and operation of the proposed mine. A similar
agreement was reached with Alaska Peninsula Corporation ("APC"), a
village corporation with land holdings both north and south of Lake
Iliamna, last November.
The INL agreement provides the Pebble Partnership with an
important alternative ferry landing site and road/utility corridor
on the north side of Lake Iliamna, and greater flexibility as the
project advances toward a final Record of Decision on the federal
Environmental Impact Statement ("EIS") permitting process next
year.
"INL and PLP have been working together for over 15
years," said INL President Lorene
Anelon. "INL sees the opportunities that Pebble could
provide for Iliamna, and we want
our community to grow and prosper with responsible development. INL
will work with Pebble to make sure it is done responsibly, and we
are looking forward to working together to make our shareholders
and community a healthy place to aspire our dreams."
In February 2019, the US
Army Corps of Engineers released the Draft EIS for the Pebble
Project, confirming there are no data gaps or other outstanding
information requirements with potential to block or delay
regulatory approval for the project. The Draft EIS also indicates
that development of the Pebble resource can proceed without harm to
the salmon fisheries of western Alaska or other significant
impacts.
The INL lands addressed in the Right-of-Way Agreement
reflect one of the transportation corridors identified in Draft
EIS. Specifically, it includes a ferry landing site east of the
village of Iliamna at Eagle Bay,
as well as road and pipeline corridors and associated material
borrow sites to link the Pebble mine site to the Iliamna airport, and to the Eagle Bay ferry
landing site.
To secure its right to use defined portions of INL land
for the construction and operation of transportation
infrastructure, PLP will make annual toll payments to INL, and pay
other fees prior to and during project construction and operations.
In addition, INL will be granted 'Preferred Contractor' status at
Pebble, which provides a preferential opportunity to bid on
Pebble-related contracts located on INL lands.
PLP transportation infrastructure is expected to benefit
INL, its shareholders and local residents of Iliamna through access to lower costs for
power, equipment and supplies, as well as enhanced economic
activity in the region. Roads connecting to the villages of
Iliamna and Newhalen will allow
local residents to access jobs at the Pebble mine site and
associated infrastructure sites.
Finally, the two parties have agreed to negotiate a profit
sharing agreement that will ensure INL and its shareholders benefit
directly from the profits generated by mining activity in the
region.
"INL has been an important stakeholder and business
partner in the Pebble enterprise for some time, and we're pleased
to formalize that partnership today," said Tom Collier, Pebble Partnership President &
CEO.
Collier said the Pebble Partnership continues to negotiate
with Alaska Native corporations, and expects to make additional
partner announcements this year.
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 U.S.
subsidiary, Pebble Limited Partnership ("PLP"), is a 100% interest
in a contiguous block of 2,402 mineral claims in southwest
Alaska, including the Pebble
deposit. PLP 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 National Environment Policy Act 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.