January 4, 2020 — The company behind a proposed copper and gold mine in Alaska faces lawsuits from investors claiming it misled shareholders who have seen an 85% drop in stock value since the summer.
Two lawsuits filed in U.S. District Court in New York claim Northern Dynasty Minerals violated federal securities law when project executives did not fully provide information about the project, The Anchorage Daily News reported Friday.
Developer The Pebble Limited Partnership and parent company Northern Dynasty Minerals Ltd. sought to build a mine about 200 miles (320 kilometers) southwest of Anchorage and near the headwaters of the world’s largest sockeye salmon fishery in Bristol Bay.
The project was criticized by environment groups and also condemned by Alaska Republican U.S. Sens. Dan Sullivan and Lisa Murkowski.
Read the full story from the Associated Press at The Seattle Times