The US Army Corps of Engineers has just published the project's final Environmental Impact Statement, which NovaGold president and CEO Greg Lang described as "a major step forward in unlocking the enormous value of our uniquely attractive gold asset".

The project partners said the next step was for the Corps to prepare a Record of Decision, expected in the second half of 2018, which would include whether to issue a wetlands permit.

They expected other key federal and state permits and approvals to be finalised throughout the year.

Meanwhile, the partners' company Donlin Gold would continue optimisation efforts to reduce initial capex from the US$6.7 billion flagged in a 2011 updated feasibility study.  

Donlin has a 39 million ounce resource and is expected to produce about 1.1Moz of gold annually over a 27-year mine life.

"Donlin Gold is encouraged by the prospect of advancing a mining project of generational and foundational significance for the YK (Yukon Kuskokwim) region in a fiscally-disciplined manner on a timely basis," NovaGold said.

It said it had been working with mineral rights owner Calista Corp and surface rights owner The Kuskokwim Corp to ensure the safe and responsible development of the project.

Barrick president Kelvin Dushnisky said the project partners shared common values that included technical innovation, financial discipline, a deep commitment to safety and environmental stewardship and respect for the traditional way of life in the region.

Barrick shares closed down 2.43% yesterday to C$17.28, down 4.95% year-to-date; while NovaGold rose 1.32% to $6.16, a 24.7% gain year-to-date.