Northern Dynasty Minerals Ltd (NAK)

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One region's story: Bristol Bay.
For the past decade, I’ve been involved in the battle to protect the Bristol Bay region of Alaska, which is under threat from the proposed Pebble Mine project. The watershed in the southwestern corner of the state is home to the largest remaining sockeye salmon fishery in the world, large mineral resources and numerous species of fish, birds and mammals. Alaska Native tribes have maintained a salmon-based culture here for at least 4,000 years.

The Canada-based mining company Northern Dynasty Minerals has been trying to put a copper mine in Bristol Bay for more than 15 years, despite widespread local and national opposition. In 2014, the Environmental Protection Agency (EPA) released the results of a three-year study of the region. The report revealed the watershed generated nearly $480 million in direct economic expenditures and sales in 2009 and provided more than 14,000 full- and part-time jobs. Over 11,500 of those jobs during peak season stem from commercial salmon fishery, valued at approximately $300 million annually. The region produces half the world's sockeye salmon, with annual runs of greater than 37.5 million fish.

The same year the EPA released its study, a subsidiary of Northern Dynasty filed documents with the Securities and Exchange Commission. In the filing, Pebble Limited Partnership estimated the total copper-mine site could be larger than Manhattan and almost as deep as the Grand Canyon. Based on the available information, the EPA in 2014 determined the mine would result in a complete and irreversible loss of fish habitats in some areas of the bay. The agency applied a provision of the Clean Water Act to protect the area from certain mining activities, including the Pebble Mine project.

https://www.entrepreneur.com/article/311151

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