Latest news with #PebbleMine
E&E News
a day ago
- Business
- E&E News
Pebble legal battle rages with EPA agreement elusive
A legal battle over the Pebble mine in Alaska is slated to continue after project developers and the Trump administration failed to reach an agreement over the 2023 federal veto that killed the project. Companies pushing to build the copper, gold and molybdenum mine in the Bristol Bay watershed revealed in documents submitted to a district court in Alaska that they have failed to reach an agreement with EPA on how to move the project forward. The Department of Justice said in court documents last week that EPA was 'open' to reconsidering the veto that essentially killed the project. EPA is talking to Pebble Partnership, a company wholly owned by Northern Dynasty Minerals, about a possible settlement, DOJ said. Advertisement 'Those discussions were productive but the parties did not reach a negotiated resolution,' Pebble lawyers wrote in a status update filed with the court Thursday. '[Pebble] believes it is now appropriate to proceed to summary judgment briefing regarding EPA's Final Determination.'
Bloomberg
2 days ago
- Business
- Bloomberg
Shares of Pebble Mine Owner Fall 55% in Biggest Drop Since 2020
Shares of Northern Dynasty Minerals Ltd., the owner of Alaska's Pebble mine project, plunged as much as 55% Thursday before paring losses. Trading was briefly halted after Northern Dynasty's stock had its biggest drop since late November 2020. Shares trimmed losses after trading in Toronto resumed, with a decline of 30% to C$2.21 apiece as of 12:03 p.m.
Business Upturn
7 days ago
- Business
- Business Upturn
Could Trump's 'Big Beautiful Bill' Be Quietly Backed by This Long-Ignored U.S. Asset?
Washington, D.C., July 13, 2025 (GLOBE NEWSWIRE) — As the political world awaits details of President Trump's 'Big Beautiful Bill,' a presentation from former CIA advisor and White House insider Jim Rickards is stirring quiet speculation about a lesser-known asset already under government control. Rickards outlines a forgotten resource—massive in size, critical to national security, and potentially aligned with the goals of the president's next major legislative move. 'It's Been There All Along' In his presentation, Rickards describes an untapped network of mineral wealth sitting beneath federally managed land—including rare earths, copper, lithium, and uranium. '$516 billion is here in the Salton Sea area of California… $3.1 trillion is held in Nome, Alaska. And $7.35 trillion is here, in Midland, Texas…'. 'The nature of this 'trust' as I call it, is such that politicians haven't been able to raid it… which has allowed it to grow untouched… for decades' . A New Approach from the Top? Trump recently stated, 'There are certain areas where we have great, raw earth… and we're not allowed to use it because of the environment. I'm going to open them up' . Rickards believes this statement marks more than rhetoric. 'Trump is re-opening our mineral-rich Federal Lands. And fast-tracking companies that could recover trillions of dollars' worth of resources, right here in America' . Whether this is part of the 'Big Beautiful Bill' or simply part of a broader policy shift, the signals are aligning. No Payout. No Program. 'This isn't some kind of government program like those COVID relief checks a few years back,' he writes. 'But it is a chance for the average American to become richer than they ever imagined'. 'It's not earmarked for any specific individual,' he clarifies. 'I'm just trying to use terminology that will make the most sense to viewers'. Dormant for Decades. Now in Play? Rickards points to long-stalled projects—Resolution Copper, Pebble Mine, and Thacker Pass—that have sat in limbo for years. 'Resolution Copper Mine… 29 years. Pebble Mine… since 1990. Thacker Pass Lithium Mine… since 1978' . 'We know exactly where these minerals are. We know they're worth trillions of dollars. And now—for the first time in half a century—we can go get them'. About Jim Rickards Jim Rickards is a former advisor to the CIA, U.S. Treasury, and Pentagon. He played a key role in the original Petrodollar Accord and has advised multiple U.S. administrations on global finance, security, and strategy. He is a bestselling author and widely respected for his insights into America's untapped potential. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
New Straits Times
09-07-2025
- Business
- New Straits Times
Trump says US to impose 50pct tariff on copper imports, copper futures jump
WASHINGTON: President Donald Trump said he will announce a 50 per cent tariff on copper on Tuesday, hoping to boost US production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods. US Comex copper futures jumped more than 12 per cent to a record high after Trump announced the planned tariffs, which came earlier than the industry had expected, and the rate was steeper. Trump told reporters at a White House cabinet meeting that he planned to make the copper tariff announcement later in the day but he did not say when the tariff would take effect. "I believe the tariff on copper, we're going to make 50 per cent," Trump said. After Trump spoke, US Commerce Secretary Howard Lutnick said in an interview on CNBC that the copper tariffs would likely be put in place by the end of July or August 1. He said Trump would post details on his Truth Social media account sometime on Tuesday. Trump had yet to formally announce the tariffs by Wednesday evening and several countries, mining companies and trade groups said they were awaiting firm details. Analysts with RBC Capital Markets said they expect short-term volatility in copper prices and shares of copper companies should the tariff be implemented. In February, the administration announced a so-called Section 232 investigation into US imports of the red metal. The deadline for the investigation to conclude was November, but Lutnick said the review was already complete. "The idea is to bring copper home, bring copper production home, bring the ability to make copper, which is key to the industrial sector, back home to America," Lutnick said. The National Mining Association declined to comment, saying it preferred to wait until details were released. The American Critical Minerals Association did not immediately respond to requests for comment. Copper is used in construction, transportation, electronics and many other industries. The US imports roughly half of its copper needs each year and only has three copper smelters. Major copper mining projects across the US have faced strong opposition in recent years due to a variety of reasons, including Rio Tinto and BHP's Resolution Copper project in Arizona and Northern Dynasty Minerals' Pebble Mine project in Alaska. Shares of the world's largest copper producer, Phoenix-based Freeport-McMoRan, shot up more than five per cent at one point in Tuesday trading. The company, which produced 1.26 billion pounds (571,530 metric tonnes) of copper in the US last year, did not immediately respond to a request for comment. Freeport, which would benefit from US copper tariffs but worries that the duties would hurt the global economy, has advised Trump to focus on boosting US copper production. Countries set to be most affected by any new US copper tariff would be Chile, Canada and Mexico, which were the top suppliers to the US of refined copper, copper alloys and copper products in 2024, according to US Census Bureau data. Chile, Canada and Peru – three of the largest copper suppliers to the US – have told the administration that imports from their countries do not threaten US interests and should not face tariffs. All three have free trade deals with the US. Mexico's Economy Ministry and Canada's Finance Ministry did not immediately respond to requests for comment, while Chile's Foreign Ministry said it had not received any formal communication about the tariffs. Chile's Mining Ministry declined to comment. Chairman Maximo Pacheco of Codelco, the country's top copper miner, told Reuters the company wanted to know which copper products would be included and if the tariff would hit all countries. Pierre Gratton, president of the Mining Association of Canada, said the tariff is concerning for copper smelters such as Glencore's Horne facility in Quebec. Gratton added he was waiting for the 232 report from Trump officials. A 50 per cent tariff on copper imports would hit US companies that use the metal because the country is years away from meeting its needs, said Ole Hansen, head of commodity strategy at Saxo Bank. "The US has imported a whole year of demand over the past six months, so the local storage levels are ample," Hansen said. "I see a correction in copper prices following the initial jump."
Korea Herald
09-07-2025
- Business
- Korea Herald
Trump: US to impose 50% tariff on copper imports
WASHINGTON (Reuters) -- President Donald Trump said he will announce a 50 percent tariff on copper on Tuesday, hoping to boost US production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods. US Comex copper futures jumped more than 12 percent to a record high after Trump announced the planned tariffs, which came earlier than the industry had expected, and the rate was steeper. Trump told reporters at a White House cabinet meeting that he planned to make the copper tariff announcement later in the day but he did not say when the tariff would take effect. "I believe the tariff on copper, we're going to make 50 percent," Trump said. After Trump spoke, US Commerce Secretary Howard Lutnick said in an interview on CNBC that the copper tariffs would likely be put in place by the end of July or August 1. He said Trump would post details on his Truth Social media account sometime on Tuesday. Trump had yet to formally announce the tariffs by Wednesday evening and several countries, mining companies and trade groups said they were awaiting firm details. Analysts with RBC Capital Markets said they expect short-term volatility in copper prices and shares of copper companies should the tariff be implemented. In February, the administration announced a so-called Section 232 investigation into US imports of the red metal. The deadline for the investigation to conclude was November, but Lutnick said the review was already complete. "The idea is to bring copper home, bring copper production home, bring the ability to make copper, which is key to the industrial sector, back home to America," Lutnick said. The National Mining Association declined to comment, saying it preferred to wait until details were released. The American Critical Minerals Association did not immediately respond to requests for comment. Copper is used in construction, transportation, electronics and many other industries. The US imports roughly half of its copper needs each year and only has three copper smelters. Major copper mining projects across the US have faced strong opposition in recent years due to a variety of reasons, including Rio Tinto and BHP's Resolution Copper project in Arizona and Northern Dynasty Minerals' Pebble Mine project in Alaska. Shares of the world's largest copper producer, Phoenix-based Freeport-McMoRan, shot up more than 5 percent at one point in Tuesday trading. The company, which produced 1.26 billion pounds (571,530 metric tons) of copper in the US last year, did not immediately respond to a request for comment. Freeport, which would benefit from US copper tariffs but worries that the duties would hurt the global economy, has advised Trump to focus on boosting US copper production. Countries set to be most affected by any new US copper tariff would be Chile, Canada and Mexico, which were the top suppliers to the US of refined copper, copper alloys and copper products in 2024, according to US Census Bureau data. Chile, Canada and Peru -- three of the largest copper suppliers to the US -- have told the administration that imports from their countries do not threaten US interests and should not face tariffs. All three have free trade deals with the US. Mexico's Economy Ministry and Canada's Finance Ministry did not immediately respond to requests for comment, while Chile's Foreign Ministry said it had not received any formal communication about the tariffs. Chile's Mining Ministry declined to comment. Chairman Maximo Pacheco of Codelco, the country's top copper miner, told Reuters the company wanted to know which copper products would be included and if the tariff would hit all countries. Pierre Gratton, president of the Mining Association of Canada, said the tariff is concerning for copper smelters such as Glencore's Horne facility in Quebec. Gratton added he was waiting for the 232 report from Trump officials. A 50 percent tariff on copper imports would hit US companies that use the metal because the country is years away from meeting its needs, said Ole Hansen, head of commodity strategy at Saxo Bank. "The US has imported a whole year of demand over the past six months, so the local storage levels are ample," Hansen said.
