NovaGold Resources (NG-T) will pay nearly US$900,000 to settle water-pollution charges in Alaska.
The charges are connected to its Rock Creek Mine near Nome, Alaska where the violations happened between April of 2007 and September 2008.
The problem stemmed from storm-water carrying sediment-laden water into three area creeks while the mine was under construction.
The EPA said two of the three streams contained salmon, but didn’t report damage to fish or wildlife
The company says it wasn’t able to complete a storm-water treatment facility in time because of delays caused by poor weather and litigation.
The mine was only in operation from September to November of last year. It was shut down when mechanical problems hit production and the company couldn’t afford the upgrades it would have had to make to meet environmental regulations.
The storm-water problem, however, is under control now, as a facility is being maintained even with the mine remaining inactive.
In Toronto on May 12, the market shrugged off the news and sent the company’s shares 12% higher to $3.99 on 1.2 million shares traded.
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