The Latest News
December 30, 2014
Brooks Range Council has put up a new petition requesting that the new Alaskan Governor (Governor Walker) put an end to the proposed road immediately. Please sign by clicking here!
December 29, 2014
On December 27th, 2014 Governor Bill Walker announced that he was giving an executive order to stop all funding for the proposed Ambler road as well as five other megaprojects (Juneau Access Road, Susitna-Watana Dam, Kodiak Launch Complex, Knik Arm Crossing and Alaska Stand Alone Pipeline Project) .
Governor Walker stated in a press release “Our budget deficit grows deeper as oil prices go lower,” Governor Walker said. “These are large projects that require significantly more state investment to complete. I’ve requested that state agencies not enter into any new contracts until we’ve had a chance to look at the various projects.”
More information on Walker’s decision and AIDEA’s response can be found below:
As recently as October, NovaCopper (the company that has been promoting the proposed road to Ambler) raised concerns over their own ability to progress with mining activity in the Northwest Arctic region due to the economic stability of the company. NovaCopper stated that “substantial doubts exists as to our ability to continue” because it is dependent “on our ability to obtain additional financing.” These statements were confirmed by the documents NovaCopper filed with regulators. NovaCopper’s share price has fluctuated and has most recently dropped, putting it only 9 cents above the 52 week low. NovaCopper stated that international market conditions and investor perceptions, as well as other factors could affect the availability of financing. Read the full article here.