Northern Dynasty Comments on Recent S&P Global Report: Urgent Need for Massive New Copper Supply To Come Online in the Near Future if There Is To Be Any Hope of Achieving the Goal of Net-Zero Emissions by 2050

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Northern Dynasty Comments on Recent S&P Global Report: Urgent Need for Massive New Copper Supply To Come Online in the Near Future if There Is To Be Any Hope of Achieving the Goal of Net-Zero Emissions by 2050VANCOUVER, BC / ACCESSWIRE / July 18, 2022 / Northern Dynasty Minerals Ltd. (TSX:NDM); (NYSE American:NAK) ("Northern Dynasty" or the "Company") comments on a recent report from world-renowned industry intelligence experts, S&P Global ("S&P"), entitled The Future of Copper: Will the looming supply gap short-circuit the energy transition? published on July 14, 2022. All currency numbers are USD unless otherwise specified.The independent report (and a corresponding webinar), which is available at S&P's website[1], was authored in response to the growing concern expressed by global authorities and governments that there are insufficient resources of copper - the "metal of electrification" - to support the global goal of Net-Zero Emissions by 2050. In its report, S&P concludes, "unless massive new supply [of copper] comes online in a timely way, the goal of Net-Zero Emissions by 2050 will be short-circuited and remain out of reach." This is consistent with comments and concerns that have been raised by Northern Dynasty and other key mining industry companies and organizations.S&P further states that the demand for copper is forecast to double from 25 million metric tons (MMt) per annum, today, to nearly 50 MMt by 2035 and higher still by 2050. In its report, S&P evaluates two potential scenarios: the "Rocky Road Scenario" is predicated on flat capacity utilization and recycling rates, resulting in peak supply of 39 MMt; and the "High Ambition Scenario" assumes that production increases because of mined output and capacity utilization, resulting in peak supply of 47.3 MMt. In both scenarios the supply of copper is insufficient to meet the expected demand."It is clear to us that the U.S., and frankly the world, are not adequately planning to deliver the raw materials that are necessary to fuel policy initiatives. This is supported by the S&P conclusions that expected copper supply cannot meet copper demand, even if permitting and construction could be accelerated. Politicians, environmental activists and the general public should pay attention to the stark conclusions raised in this report," noted Ron Thiessen, President and CEO...

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