What happened After an initial drop of over 20%, shares of Northern Dynasty Minerals (NYSEMKT: NAK) were down 12% as of 12:30 p.m. EST today. The fortune of the Canadian mining company hinges on its Alaska Pebble Mine project. Some investors are betting the final election outcome won't be friendly toward the federal permitting of the project. So what The Pebble Mine project is the world's largest undeveloped copper, gold, molybdenum, and silver resource, according to the company. President Trump has previously signaled his support of the project. Image source: Getty Images. The president signed an executive order on Sept. 30 declaring a national emergency in the mining industry, saying it was "particularly concerning" that the United States imports 80% of its rare-earth elements directly from China. Now what After the executive order, the U.S. government announced it would direct the U.S. International Development Finance Corporation, a federally funded lender and investor created under President Trump, to invest $25 million in a U.K.-based miner to help it develop a nickel and cobalt mine in Brazil. Both metals are crucial for electric vehicle, cellphone, and battery production. Northern Dynasty hailed that as "the first tangible step the U.S. government has taken" to address the supply of crucial minerals and metals. With the votes from yesterday's election still being counted, the race is going down to the wire. Investors in Northern Dynasty seem to believe a Joe Biden presidency won't be as accommodating toward supporting the Pebble Mine project, or securing a crucial supply of metals. 10 stocks we like better than Northern Dynasty MineralsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Northern Dynasty Minerals wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source