1. Environmental concerns - Northern Dynasty Minerals Ltd. faces significant environmental challenges due to its involvement in mining activities, particularly in the Bristol Bay region of Alaska. The company's proposed Pebble Mine project has been criticized for its potential impact on the local ecosystem and salmon population.

2. Regulatory hurdles - The company has faced numerous regulatory hurdles and legal battles in its efforts to develop the Pebble Mine project. This has resulted in delays and uncertainties, which can hinder the company's growth and profitability compared to its peers.

3. Lack of diversification - Northern Dynasty Minerals Ltd. primarily focuses on the development of the Pebble Mine project, which means it has limited diversification in terms of its revenue streams. This lack of diversification can make the company more vulnerable to market fluctuations and changes in commodity prices.

4. Financial risks - The company's financial position may be more precarious compared to its peers due to the uncertainties surrounding the Pebble Mine project. If the project faces further delays or regulatory setbacks, it could strain the company's financial resources and ability to fund its operations.

5. Reputation and stakeholder concerns - Northern Dynasty Minerals Ltd. has faced criticism and opposition from various stakeholders, including environmental groups, local communities, and indigenous groups. This negative reputation can impact the company's relationships with key stakeholders and potentially affect its ability to secure partnerships or financing.

6. Market competition - The company operates in a highly competitive industry, and it may face challenges in terms of market share and pricing compared to its peers. The presence of other mining companies with similar projects or resources can limit Northern Dynasty Minerals Ltd.'s ability to differentiate itself and attract investors or customers.