NAK - Why Northern Dynasty Minerals Is Up Almost 20% Today
Shares of Canadian miner Northern Dynasty Minerals (NYSEMKT: NAK) advanced 20% earlier today and remained up 16% as of 2 p.m. EDT. Shares have jumped almost 80% since last week, after sinking more than 60% prior to that in August.
The share price turbulence is related to the company's Pebble Mine project in Alaska and the politics that have become involved. The Pebble Limited Partnership is the U.S.-based subsidiary that owns the potentially lucrative mine. The partnership put out a statement on Aug. 22, 2020, denying a Politico report saying the Trump administration was planning to block the mine project. The report sent Northern Dynasty shares tanking almost 40% at the time.