Northern Dynasty sinks along with financing deal with First Quantum
Friday, May 25, 2018
Northern Dynasty Minerals Ltd. plummeted Friday after the collapse of a pact with First Quantum Minerals Ltd. to finance the controversial Pebble mining project in Alaska.
The two companies were unable to reach an agreement on a proposed deal disclosed in December, Northern Dynasty said in a statement. The arrangement would have given a unit of First Quantum an option to earn a 50 percent interest in Pebble in return for $150 million paid over four years to fund permitting.
The project at one of the largest copper and gold deposits has been fraught for years. ...
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