Northern Dynasty Minerals (NAK) Stock Heads Up On Positive EIS

Northern Dynasty Minerals NAK Stock News

Northern Dynasty Minerals Ltd (NYSEAMERICAN: NAK) stock is making a run for the top early on in the market this morning, and for good reason. The company announced that it received the final Environmental Impact Statement for the Pebble Project from the United States Army Corps of Engineers. Here’s what’s going on:

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NAK Stock Heads Up On Final EIS

In the press release, Northern Dynasty Minerals announced the findings from the EIS Executive Summary. The news proved to be overwhelmingly positive.

The company published several quotes from the EIS in a press release, showing that the surrounding environment would see no meaningful differences from the project. In fact, with regard to fish and wildlife resources, the United States Army Corps of Engineers says that it does not expect to see any impact to harvest levels.

In particular, the United States Army Corps of Engineers pointed to the fact that neither subsistance fisherman, nor commercial fisherman, would notice a change in the amount of fish in the area. Moreover, the Army Corps of Engineers do not expect there to be any measurable effect on fish numbers nor result in any long-term changes to the health of commercial fisheries in the area.

Moreover, the Corps said that a system to ensure that pollutants did not make it into the waters would ensure that the discharged water from the mine would meet applicable water quality criteria.

Finally, the United States Army Corps of Engineers took  look at the socioeconomic impact on surrounding communities, which was positive. In fact, the report showed that increased job opportunities, year round and seasonal employments, steady income, and lower cost of living will be key benefits of the Pebble Project, should it come to fruition.

In a statement, Ron Thiessen, President and  CEO at NAK, had the following to offer:

We’re ecstatic to reach this major milestone in the advancement of the Pebble Project – a modern mineral development proposal that has the potential to become one of the most significant metals producers in the United States, and a major source of jobs, investment, economic activity and government revenues in Alaska.

This News Is Huge

The news surrounding the Environmental Impact Statement is huge for Northern Dynasty Minerals. After all, it is a major step in the process to submit permit applications for one of the world’s largest mines.

With the EIS being positive, the company is likely to move forward with permitting relatively shortly, making this a very exciting play. While the company will likely need partnerships to bring the Project to fruition, the final EIS is what NAK needed to get partners interested. At this point, there’s a lot to be excited about with regard to NAK stock ahead.

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