Northern Dynasty Minerals Ltd (NYSEMKT:NAK) reported that its subsidiary Pebble Limited Partnership and the U.S. Environmental Protection Agency have submitted a joint Notice in federal court expressing their plan to enter into mediation in an attempt to resolve ongoing case under the “FACA”.
The highlights
In 2014, the Pebble Partnership commenced a measure in Alaska’s Federal District court, asserting that EPA dishonored FACA by its close dealings with, and the undue impact of, ENGOs and anti-mine activists in advancing the Bristol Bay Watershed evaluation, and its exceptional, pre-emptive regulatory act under Section 404(c). A couple of years ago, a federal court attorney approved PLP’s request for an initial sanction in the FACA case, barring EPA from taking additional measures toward finalizing 404(c) regulatory initiative, and indicating that PLP’s case had a probability of succeeding on its virtues.
While discovery along with other arrangements for court events in the FACA lawsuit will continue, the joint Notice submitted in federal court highlights the readiness of both parties to get a negotiated resolution to the existing impasse.
Ron Thiessen, the CEO and President of Northern Dynasty, said that EPA and the company share a robust conviction that any mine advanced at Pebble must fulfill the highest environmental standards, and safeguard the fisheries assets of southwest Alaska, else it should not be allowed. They are confident that a resolution can be found through facilitation that will permit Pebble to propose a growth plan for the venture, and progress into the state and federal permitting procedure.
Selection of an intermediary will be assumed jointly by the Pebble and EPA association, with mediation talks anticipated to commence in Washington DC this fall.
Earlier to this update, Northern Dynasty stated that its subsidiary has capped its legal fee exposure to close lawsuit with the U.S. EPA under the FACA. Should PLP succeed in its FACA lawsuit, the company projects that EPA would not be able to continue with any planned veto of the Pebble assignment that depends upon the BBWA as an organizational record. Thiessen said that the significance of this announcement is that they now have certainty that company will own the professional and financial resources required to pursue its legal lawsuit against EPA to a final verdict.
