July 30, 2019 / 9:14 PM / 4 months ago

Alaska mine developer Northern Dynasty wins EPA reprieve, shares soar

TORONTO, July 30 (Reuters) - The U.S. Environmental Protection Agency said on Tuesday it would scrap a proposed Obama-era restriction that would have blocked a Northern Dynasty Minerals Ltd mining project in Alaska, sending the company’s shares soaring.

Under former U.S. President Barack Obama, the EPA in 2014 proposed limits on large-scale mining in the Alaska’s Bristol Bay area, citing environmental concerns.

Shares of Vancouver-based Northern Dynasty, which touts the project as the world’s largest undeveloped copper-gold-molybdenum-silver resource, closed up 67% at C$1.20, their highest level since March. (Reporting By Nichola Saminather Editing by Bill Berkrot)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below