Northern Dynasty Comments on One Year Anniversary of Appeal Submission and Recent Predictions of Significant Increases in the Price Of Copper Coming in Light of Supply/Demand Imbalances

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[{"type":"text","content":"Northern Dynasty Comments on One Year Anniversary of Appeal Submission and Recent Predictions of Significant Increases in the Price Of Copper Coming in Light of Supply/Demand ImbalancesVANCOUVER, BC / ACCESSWIRE / January 19, 2022 / Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) (\"Northern Dynasty\" or the \"Company\") comments on passing the one year anniversary of submitting the Administrative appeal to the U.S. Army Corps of Engineers (\"USACE\") on January 19, 2021 regarding the Pebble Project in Southwest Alaska, and on recent increases in copper price estimates by several large U.S. banking institutions.\"We continue to approach the USACE to see if they require additional information or have a decision on whether a site visit is needed, and while we are being told that the USACE is working diligently on our file, it has now been a year without discernable progress in terms of a decision. We would take significantly more comfort if we could actually see signs of progress,\" said Ron Thiessen, President and CEO of Northern Dynasty. \"In the meantime, we are not idle. While awaiting a decision from the USACE, we continue to assess legal options to address the many possible outcomes from their decision. We are also studying the positive economic benefits of our project for Alaska and the U.S. The Pebble project is too important to be stifled by regulatory inaction.\"Significantly higher copper prices predicted by major banksNorthern Dynasty is heartened by the growing calls for increasing copper production from leaders in the industry. Goldman Sachs recently increased the Bank's forecast for copper to US$12,000/mt (approx. US$5.40/lb), seeing 20%+ upside this year, as the metal is forecast to reach all-time highs over the coming 12 months. Bank of America expects copper to reach US$20,000/mt by 2025 due to an expected supply/demand imbalance1.\"We echo recent comments from Goldman Sachs, Bank of America and BlackRock that higher prices in the near term are the likely outcome of the looming supply deficit for copper at a time of growing demand. The reality is that without copper you cannot create electricity, transport it, or convert the electric energy into usable kinetic energy in end-use applications. The amount of copper required to enable a successful global energy transition to a zero-carbon economy is enorm...

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