NAK · Northern Dynasty Minerals Ltd.

Northern Dynasty Minerals Ltd. and its subsidiary Pebble Limited Partnership have escalated their legal battle against the U.S. Environmental Protection Agency's veto of the Pebble Project. On April 14, 2026, the companies filed a response brief in Alaska Federal Court addressing the Department of Justice's arguments from February 17, 2026. The core of the Company's argument is that the EPA's veto determination is 'arbitrary and capricious' because it relies on conclusions that directly contradict the Final Environmental Impact Statement (FEIS), which was prepared by independent consultant AECOM under the National Environmental Policy Act (NEPA). The Company emphasizes that the FEIS is the 'gold standard' for resolving complex scientific issues and that the EPA failed to explain why its conclusions differ from the FEIS findings.

Beyond the scientific and procedural arguments, the Company contends that the EPA's economic analysis was legally deficient. Specifically, the brief argues that the EPA did not calculate the positive economic impacts of the proposed mine, such as capital investments and tax revenues, while exaggerating negative impact costs. Ron Thiessen, President and CEO, stated that the veto sets a dangerous legal precedent that could be used by future administrations to unwind progress on energy and mining projects, potentially putting at risk the 60,000 to 75,000 Clean Water Act 404 permits issued annually in the U.S. The State of Alaska, Iliamna Natives Ltd., and Alaska Peninsula Corp. filed similar response briefs, indicating broader stakeholder opposition to the EPA's action. The Company maintains high confidence that the court will vacate the veto.