The stalled Pebble project has entered 2025 with a "renewed sense of optimism" as its legal battles continue and the political landscape in the US shifts in its favour, according to Ron Thiessen, CEO of project owner Northern Dynasty.

The renewed optimism is being driven by actions and statements from the Trump Administration, the passing of the Critical Minerals Consistency Act in the US House of Representatives, and the company's legal case against the Environmental Protection Agency (EPA) and the US Army Corps of Engineers (USACE).

"Knowing how important copper is to our way of life, and that Pebble is host to such a significant deposit of this critical metal (notwithstanding other contained, recoverable critical metals), ensures that I remain enthusiastic moving this project forwards," Thiessen said in an open letter to Northern Dynasty shareholders.

NEW ADMINISTRATION
The re-election of Donald Trump in November has bolstered the company’s hopes, with key appointments in the new administration showing a focus on domestic mining and mineral security.

Several of Trump's executive orders, including one titled "Unleashing Alaska's Extraordinary Resource Potential”, are seen as potential catalysts for reviving stalled projects like Pebble.

"Executive orders like this from President Trump 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 remarked. “What these orders will mean for the Pebble project, which is not specifically named in the order, remains to be seen, but it is a good start.”

Further, the newly confirmed EPA administrator, Lee Zeldin, has stated his commitment to ensuring agency actions are based on process and legal durability.

NEW LAWS
The passage of the Critical Minerals Consistency Act in the US House of Representatives has further strengthened the case for Pebble, as the Bill formally recognises copper as a critical mineral. The company expects bipartisan support to push the Bill through the Senate and into law.

"Copper is undeniably critical to the US economy... More electricity requires more copper. So, it is important that the US has access to a reliable, secure, and responsible supply of the metal. Fortunately, the US has the Pebble project, the world's largest undeveloped copper deposit,” said Thiessen.

LEGAL DEVELOPMENTS
Further, he said Northern Dynasty remained engaged in legal proceedings against the EPA and USACE, arguing that their actions had unfairly hindered the permitting process. In late 2024, the Federal District Court of Alaska allowed the company to add USACE to the EPA lawsuit.

"Each case is somewhat different, but all seek a similar result – the fair treatment of the Pebble project by the federal government and its agencies," Thiessen stated, adding that progress was expected this year.

A key development the company is expecting is the potential withdrawal of the EPA’s veto on the project, either voluntarily or through court action. "The removal of the veto is an important step for the project as it clears the way for the USACE to do the work that they were ordered to do by their own Administrative Appeal Review Officer and Regional Commander," the CEO explained.

If the veto is removed, the company believes a reconsideration of its Clean Water Act Section 404 permit application could result in a favourable decision, putting the project back on track.

"Pebble is in a good position at this time. Removal of the veto would clear the path for a reconsideration of the 404 application as required by the remand order and allow for a fair and impartial decision supported by the comprehensive, transparent and positive final environmental impact statement (FEIS),” said Thiessen.

Northern Dynasty is hopeful that the combination of a favourable political climate, legislative support, and judicial proceedings will pave the way for the project’s long-awaited development.

Thiessen stressed that the US had environmental and labour laws and regulations “second to none in the world”. “It can ensure that mine developments and ancillary operations are done in a safe, secure and beneficial manner and that ultimate reclamation plans and obligations are done so in a manner to support a positive outcome for all. The Pebble Project's FEIS and ultimate Compensatory Mitigation Plan demonstrates a commitment in law, physically and financially, to these objectives.