Trump's Administration Drives 'Renewed Optimism' For Pebble Project

The Pebble Mine project in Alaska has entered 2025 with a "renewed sense of optimism. "After being blocked by the Biden administration due to environmental concerns, a change of administration has reignited hopes for its advancement.

In a letter to shareholders, Ron Thiessen, CEO of Northern Dynasty Minerals NAK, the project's owner, noted the shifting political landscape and legislative progress.

"Knowing how important copper is to our way of life, and that Pebble is host to such a significant deposit of this critical metal, ensures that I remain enthusiastic moving this project forward," Thiessen said, citing the new administration's policies.

The Pebble project, located in southwest Alaska's Bristol Bay watershed, is one of the world's largest undeveloped copper and gold deposits. With an estimated 80.6 billion pounds of copper, 107.4 million ounces of gold, and 5.6 billion pounds of molybdenum, the project represents a $400 billion resource.

Proponents argue it could provide critical minerals essential for clean energy technologies, national security, and economic growth. However, the project has faced fierce opposition due to its potential environmental risks, particularly in the area supporting the world's largest sockeye salmon fishery.

Biden administration blocked the project in 2023, while the U.S. Supreme Court rejected the motion against the Environmental Protection Agency (EPA), despite Governor Mike Dunleavy's (R-Alaska) appeal that "the science is there to be able to develop the mine responsibly."

However, the project's fortunes shifted with Donald Trump's re-election. The new administration has prioritized domestic mining and resource development as cornerstones of self-sustainability regarding valuable critical minerals.

Trump has issued multiple executive orders to reverse Biden-era restrictions, such as "Unleashing Alaska's Extraordinary Resource Potential," which directs federal agencies to review and revise actions hindering the state's resource development.

"Executive orders like this give us and the rest of the mining industry comfort that this is an administration with which our industry can do business for the benefit of all," Thiessen noted.

Furthermore, the Critical Minerals Consistency Act – which recently passed the U.S. House of Representatives with bipartisan support – recognizes copper as a critical mineral, helping the recognition of the world's largest undeveloped copper deposit further.

Finally, the Federal District Court of Alaska allowed the Northern Dynasty to add the U.S. Army Corps of Engineers to its lawsuit against the EPA. The Northern Dynasty challenged the agency's handling of the permitting process and argued that its veto was unjustified. If the veto is lifted, Northern Dynasty believes the project could move forward based on its Final Environmental Impact Statement (FEIS) findings, which outlines mitigation measures and environmental safeguards.

"Removal of the veto would clear the path for a reconsideration of the 404 application and allow for a fair and impartial decision supported by the comprehensive, transparent, and positive FEIS," Thiessen explained.

Northern Dynasty Minerals stock is up 8,09% year-to-date.

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