09:19 AM EDT, 07/04/2025 (MT Newswires) -- Northern Dynasty Minerals ( NAK ) said Friday that it is in talks with the U.S. Environmental Protection Agency (EPA) to explore a potential settlement regarding the Pebble project in Alaska.

Northern Dynasty said the settlement is the "fastest path forward for withdrawal of the veto" on the project. In March 2024, the company filed legal action seeking to vacate EPA's veto and allow permitting of the Pebble project to resume.

The veto "violated the law and was arbitrary and capricious," the company said at the time.

"A decision to withdraw this egregious and unsubstantiated veto would help the U.S. to secure a domestic supply of metals like copper, which is critical for the economy because of its fundamental use in electrification, and rhenium, which is a key component in several military applications," said Ron Thiessen, president and CEO of Northern Dynasty. "It also provides the opportunity for significant economic benefits over generations in this region of Alaska, the state and the country and would be consistent with the stated pledge of this administration to remove impediments to permitting."

Northern Dynasty and the EPA are expected to reach an agreement within the next two weeks, the company said, citing an EPA court filing dated July 3.

Northern Dynasty's share price closed 2% lower on Thursday to $1.92 on the TSX.