NAK - Army Corps denies Pebble Mine proposal on environmental concerns

Shares of Northern Dynasty Minerals ([[NAK]] -53.5%) are chopped in half after the Army Corps of Engineers rejects the controversial Pebble Mine, likely marking an end to the proposed giant copper and gold mine in Bristol Bay Alaska that opponents say threatened the world's largest and most valuable wild salmon fishery.The agency says the plan submitted by the Pebble Partnership to deal with the project's waste "does not comply with Clean Water Act guidelines and concluded that the proposed project is contrary to the public interest."The mine was planned to produce 70M tons/year of gold, molybdenum and copper ore and create a pit 1,970 ft. deep in the Bristol Bay watershed.

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Army Corps denies Pebble Mine proposal on environmental concerns