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Alaska News

Northern Dynasty raises funds for Pebble Mine operations, legal fight

  • Author: ociated Press
  • Updated: May 31, 2016
  • Published January 14, 2015

JUNEAU -- Northern Dynasty Minerals Ltd. has raised about $13 million from the sale of shares to help fund operations and an ongoing legal fight in support of the proposed Pebble Mine.

Northern Dynasty is the project's sole owner.

Operations were scaled back in 2013 after a subsidiary of Anglo American PLC withdrew. Northern Dynasty has been looking for a new partner since.

It also has been fighting the U.S. Environmental Protection Agency over a process that could halt or restrict development of the massive gold-and-copper prospect, which is near the headwaters of a world-premier salmon fishery.

Sean Magee, a Northern Dynasty vice president, said he doesn't expect a ramp-up of field operations for the Pebble project. He said the project won't enter into permitting until Northern Dynasty has a new partner.

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