Northern Dynasty Minerals (NAK, Financials) shares gained 37.8% to $1.23 at 1:49:14 p.m. EDT on Monday after President Donald Trump issued an executive order to speed up mineral production project approvals.
Signed on March 20, the directive orders government authorities to hasten approval of domestic mining projects supporting national security, technology, and infrastructure.
Owning the Pebble Project in Alaska via its U.S. subsidiary Pebble Limited Partnership, Northern Dynasty said the order will support its efforts to forward site development. With further supplies of gold, silver, and molybdenum, a rare metal vital to military-grade aerospace uses, the business identified Pebble as the greatest undeveloped copper deposit in the world.
The corporation highlighted a 2020 environmental impact analysis showing possible tax income and high-paying employment as well as possible economic gains for local Alaskan towns and the larger American economy.
Northern Dynasty's project is delayed among legal and regulatory obstacles despite executive backing. Under the Clean Water Act, the U.S. Environmental Protection Agency has rendered a Final Determination limiting local development. Furthermore, a previous decision taken by the U.S. Army Corps of Engineers has been overturned, therefore casting doubt on the future of the project.
According to Northern Dynasty, resolving legal difficulties, verifying the financial feasibility of the project, and obtaining federal and state approvals will determine further development. To advance with engineering and feasibility studies, the business is also looking for strategic partners and more capital.
