Boston, MA 09/30/2014 (wallstreetpr) – Northern Dynasty Minerals Ltd. (USA)(NYSEMKT:NAK) recently announced that US federal court granted it a motion to dismiss the case that was filed by Pebble Limited Partnership and Alaska Peninsula Corporation. Both the organizations challenged U.S. Environmental Protection Agency statutory authority against its decision of imposing developmental restrictions on Pebble Project. Reportedly, EPA levied restrictions on Pebble Project even before it submitted the proposed development plan. As per the reports, the decision did not judge the positives of the statutory authority case, it only deferred a judgment until EPA announced final decision.
Management Call:
Tom Collier, CEO at Pebble Partnership told reporters that the decision taken by the court was not related to underlying issues, but it was about timing of the challenges to pre-emptive authority. He further added that Northern Dynasty Minerals Ltd. (USA)(NYSEMKT:NAK) was very confident about positive outcomes of the case. In the case EPA would finalize its proposed veto restrictions on the company then the management would once again claim saying that EPA lacked statutory authority.
Ron Thiessen, CEO at Northern Dynasty Minerals Ltd. (USA)(NYSEMKT:NAK) told that the decision was about the timing of the case, it had nothing to do with legality of NAK’s position in the case. Court said that unless EPA came with any final decision, neither of the parties would have to worry about the results. All the parties had differences while giving statements about the case. Tom Collier said that Pebble Partnership had simply deferred the decision of the case unless EPA took a negative decision. It is not the only case that Pebble Partnership has filed against EPA in court; there is one more case pending in the court about Bristol Bay Assessment study. The case regarding Federal Advisory Committee Act would affect EPA at the time of giving its final decision. The most recent hearing was not related to this case in any way.
